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Genting Sing
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Nostradamus
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10-Oct-2006 18:33
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Genting is to spend over $5b (US$3.1b) to develop Sentosa IR. Eighth Wonder to invest US$3.5b. This is more than Genting. "We will invest over $5b to develop Resorts World at Sentosa into Singapore's most successful tourist destination," Genting International chairman Lim Kok Thay said. "Besides an investment of more than $1.6b for (the develoment of) Universal Studios Singapore, we are also committing significant resources to develop other outstanding attractions at the resort," he said. Universal Studios is a partner in the project plan. The consortium said that the resort will have six hotels and is expected to create some 45,000 new jobs. |
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allantanhc
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10-Oct-2006 16:05
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I can't tell it from the chart. I can only fall back on the experience of the first IR. There were more interest and public discussions after the proposals were submitted and more details were given by the respective parties. This will generate trading interests. My feeling is that unless there are surprises coming from the other two contenders, such speculations will further favour Genting Intl. I expect Genting share price to go up to the range of $0.42 to $0.45 towards the result announcement date. Hence, breaking the $0.40 price level should happen within the next 5 to 8 trading days. This is coffee shop talk. Just my personal view and gut feel. |
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YongJiu
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10-Oct-2006 16:01
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sorry shouldn't ask such a question =) any thx for your info so far allan!! |
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YongJiu
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10-Oct-2006 15:36
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by when? |
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allantanhc
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10-Oct-2006 15:33
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Should have no problem hitting $0.40. |
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YongJiu
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10-Oct-2006 15:26
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allantan, gonna cross $0.4 soon? think I'm gonna que at 0.39 now |
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allantanhc
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10-Oct-2006 14:45
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Gent Intl has hit $0.39. Very heavy volume. Cheong Ah. |
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Nostradamus
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10-Oct-2006 00:26
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Past talks of a similar theme park coming up in Johor which if it comes true one day will rival Sentosa may limit its upside trading potential. It is likely that in coming years a similar Universal Studios type theme park will come up in Johor, which will rival Sentosa IR. The winner must be one that can come up with ideas that will make Sentosa unique and evergreen as a few rival IRs are likely to come up in Johor and the Rhio islands surrounding Singapore in the next 5 to 10 years. |
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Nostradamus
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09-Oct-2006 16:50
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Merrill Lynch said it has cut its target price to $0.42 from $0.43 to factor in the reduction in its estimated NAV to $0.27 from $0.28. The brokerage said it reduced its NAV estimate for the stock due to the change in the mark-to-market valuation of Genting's 29.8% holding in London Clubs, after London Clubs' share price fell from 1.36 stg to 1.28 last week on concerns that the planned takeover by Harrah's Entertainment announced in September might not proceed. However, Merrill Lynch said it is keeping its "buy" call on the stock on the view that Genting International could win the bid to build the proposed Sentosa integrated resort. "Our top pick remains Genting International, which we believe will not only submit the most comprehensive bid but will likely commit the largest financial investment of more than US$2.5b," the brokerage said in a note. |
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allantanhc
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09-Oct-2006 16:23
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Jessie, I agree with you. |
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jessie
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09-Oct-2006 13:01
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Yes, it is best to sell prior to the result. Otherwise, can consider selling some before the result and hold some. If they dont win the IR, price will definitely drop immediately (and drastically ? ) and it will be too late to sell liao..... Just like Capitaland and Keppel Land shares plunge when Sands won the IR... This is just my personal opinion. |
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YongJiu
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09-Oct-2006 12:58
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bidding for the Sentosa project will close by tomorrow, will wait for a good price to let go =) |
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allantanhc
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09-Oct-2006 12:22
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Hi, YongJiu, I will hold until after 10 Oct. But I probably will not wait for the announcement of results which will happen in Nov/Dec. |
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YongJiu
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09-Oct-2006 09:23
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Hi allan, would you hold until 10 Oct and wait for the result? |
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allantanhc
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09-Oct-2006 09:22
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GIL has moved. This morning done $0.385. Will move up some more. |
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YongJiu
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09-Oct-2006 09:17
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9 October 2006 Genting International (GIL SP / GENS.SI, OUTPERFORM - Maintained - S$0.365, Target: S$0.45) Company update - Leading into the home stretch by Steven Tan The withdrawal of Harrah's/Keppel Land leaves three bidders in the Sentosa IR race, with GIL/SCL and Kerzner/CapitaLand remaining the outright favourites. The submission deadline is tomorrow at 4pm and we expect the winner to be announced by end-Nov or early-Dec 06. We reiterate our belief that GIL stands the best chance of success with its impressive Universal Studios proposal and gaming know-how. Separately, GIL's takeover of Stanley Leisure has become unconditional now that it has 69.4% effective control. We raise our CY06 RNAV-based target price to S$0.45 from S$0.43, principally on the higher prices of Stanley Leisure and London Clubs. Winning the Sentosa bid would propel GIL's target price to S$0.51. Maintain OUTPERFORM. Here's the Full Report [ Click here ] or the link below http://www.gohdirect.com |
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YongJiu
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09-Oct-2006 09:09
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of course this come with some risk.... any one dare to play "big" or "small" on this? What would a Sentosa win mean for GIL? We estimate a win on Sentosa Island would likely send the stock to S$0.47/share and a loss would likely send the stock lower to around the NAV of S$0.27/share. A win on Sentosa would also make GIL?s operations very diverse with a major position in Singapore and the largest network of casinos in the UK. |
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YongJiu
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09-Oct-2006 09:04
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Genting Int'l - 091006 - Merrill Lynch Submission Tuesday 10 October The bids for Singapore's second casino (to be located on Sentosa Island) are due Tuesday 10 October 2006. We expect only 3 companies to now submit bids given Harrah's & Keppel Land announced their withdrawal on Friday 6 October. Our top pick remains Genting International (GIL) which we give a 75% chance of success. |
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allantanhc
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07-Oct-2006 11:40
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This announcement is positive for Gent Intl. |
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YongJiu
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06-Oct-2006 17:42
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SINGAPORE (XFN-ASIA) - The consortium of
Keppel Land Ltd and US-based Harrah's Entertainment, Inc said it has
decided to drop out of the race to secure the second casino/resort
project in Singapore. "We determined it would not be possible to deliver a development on the scale we envisioned for Sentosa Island while meeting our objectives for this projects. Accordingly, we decided not to submit a response to the request for a proposal," their joint statement read. This came after Harrah's received a 15 bln usd buyout offer from two private US funds -- Apollo Management and Texas Pacific Group. The number of contenders for the Sentosa project is now down to three - CapitaLand, in partnership with Kerzner International; Genting International's team-up with Star Cruises and Universal Studios; and Eighth Wonder Asia. The bidding for the Sentosa project will close on Oct 10. |
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