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Genting Sing
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Something going on
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zhuge_liang
Supreme |
27-Oct-2007 00:31
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Genting International, a unit of Asia's biggest casino operator by market value, is seeking to borrow a record $3.2 billion to fund the IR, 3 people with knowledge of the transaction said. The overseas unit of Kuala Lumpur-based Genting Bhd is adding to $2.17 billion raised in a rights offer in Aug, and $450 million of convertible bonds it sold in Apr to partly fund the resort. Genting International's loan will push lending to Asia's casino industry to about US$9.1 billion, more than double the total for last year, according to data compiled by Bloomberg. Lending to the region's industry is set to grow as countries including Japan consider joining S'pore in lifting bans on casinos. "There are quite a few countries in Asia where gambling is banned," said Harsh Agarwal, a credit analyst with Lehman Brothers. "If more countries legalise gambling, we should see an increase in bank lending for casinos." Las Vegas Sands, the world's largest casino operator by market value, hired 8 banks last month to arrange a loan of about $5 billion for its S'pore gaming resort. |
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adgjmp
Member |
24-Oct-2007 12:23
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Gen Int has a negative net asset per share?! How do we interpret it? Sell or hold? | |
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loyfam88
Senior |
24-Oct-2007 09:19
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Makes me wonder if the bb are busy attending the funeral that's why Genting seems weak. | |
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idesa168
Elite |
23-Oct-2007 22:58
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Lim Goh Tong, the founder of Genting Highland, and a self-made Billionaire, passed away today at 89. | |
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KiLrOy
Master |
23-Oct-2007 22:57
Yells: "I buy only what I can see." |
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In line with FTSE?s international methodology, these companies have been included based on the following criteria: 1. Free Float. The free float of a listed company must be greater than 15%. The definition of ?free float? includes portfolio investments, nominee holdings and holdings by investment companies. 2. Liquidity. A stock must trade with a median daily turnover value of at least 0.05% of the value of its free float-adjusted shares in issue for at least 10 out of the last 12 months. .... http://info.sgx.com/webnewscentre.nsf/b9c790d0d5ba5d2548256dcf0049ce28/48256838002f07b14825736b003f8d7c?OpenDocument |
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EastonBay
Master |
23-Oct-2007 20:49
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trading volume is one of the considerations.. | |
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sarahlkh
Senior |
23-Oct-2007 17:02
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sure got funny biz... wonder y STI included it as part of the index. |
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sean68
Member |
23-Oct-2007 16:41
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Maybe those who have lost $ in Genting Casino sold off the shares to pay the debts 
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loyfam88
Senior |
23-Oct-2007 16:38
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I think it is those people with no foresight that is selling down. | |
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eblim77
Member |
23-Oct-2007 16:36
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It seems there are numbers of good news for this counter. Who is the chicken out and sell away the shares? No way to remain at this low price for long |
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clownfish75
Senior |
23-Oct-2007 15:44
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who who who push down the price???????? Dare those not to pay last respect to uncle lim??? let's us all show a little support in genting by not selling down | |
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clownfish75
Senior |
23-Oct-2007 13:57
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Genting founder dies
The tycoon, who turned 90 in April this year, was renowned for his vision in transforming Genting Highlands from an unexplored hilltop to one of the world's most successful casino resorts. The fifth child in a family of seven children, Lim migrated from China's Fujian province in 1937 at the age of 19 with only a small suitcase and US$175. The idea of a hill resort was chanced upon by Lim amidst the crisp air of Cameron Highlands in 1964. Lim was then working on a hydro-electric power project at the popular hill resort, patronised mostly by British colonials seeking cool refuge from the tropical heat, when he foresaw a prosperous Malaysia of the future desiring a cool mountain holiday resort within the reach of all Malaysians. To date, Genting Highlands Resort has five hotels and two apartment blocks at the hilltop and Awana Genting Highlands Golf and Country Resort. The company, founded in 1965, has since expanded and diversified from its initial hotel and resort activities to plantations, properties, paper manufacturing, power generation, oil and gas, electronic commerce and information technology development under Genting Group. According to Forbes Asia, the Genting Group founder was third richest in the country with a net worth of US$4.3bil (RM14.6bil). Lim is survived by wife Puan Sri Lee Kim Hua, and their six children and 19 grandchildren. |
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suilianglee
Member |
23-Oct-2007 13:39
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Will the price drop??????????????????????
Hope not.
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arowana1
Member |
23-Oct-2007 13:33
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passed away 11am this morning. | |
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suilianglee
Member |
23-Oct-2007 13:24
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Heard that Genting founder Lim passed away this morning. - hear say onli
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clownfish75
Senior |
22-Oct-2007 14:29
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GENTING BIDDING??????????????????????????????????????????????? UPDATE 2-NZ's Sky City notes second potential bidder Wednesday October 17, 2007, 1:09 pm
(Recasts, adding analyst comment, updates shares) WELLINGTON, Oct 17 (Reuters) - Sky City Entertainment Group Ltd, New Zealand's leading casino operator, said it expected a second company to examine its books, raising the prospect of a bidding war that analysts said could top US$2 billion. Sky City (NZX: SKC.nz) is already being scrutinised by one unnamed potential bidder, with a decision on a bid expected by the end of this month. The emergence of another interested party pointed to at least one firm offer being made soon, analysts said. "Any party that decides to go down the route of doing due diligence would suggest they're serious about it," said Craig Brown, principal at Walker Capital Management, adding Sky City's share price rise to near record levels indicated the market was waiting for the bidding to start. On Oct. 5, Sky City executive director Elmar Toime told Reuters he saw the potential for more than one bid to be made. Shares in Sky City, which has a virtual monopoly on casinos in New Zealand and also operates in Australia, were up 1.1 percent at NZ$5.39 by 0245 GMT. The stock has jumped more than a quarter since Sept. 21 when the company said it had received an approach about a possible takeover. Sky City said on Wednesday it had received fresh expressions of interest and expected at least one of those to result in financial and commercial due diligence. Private equity or global gambling operators have been touted as the most likely suitors. Analysts say a private equity bidder could offer up to NZ$5.75 a share, while a trade bidder may go as high as NZ$6.40, valuing the company at NZ$2.9 billion ($2.2 billion). FUTURE EARNINGS Walker Capital's Brown said Sky City was a good monopoly asset that shareholders would value on future earnings potential rather than past performance. In May, Sky City unveiled a programme of cost cutting and possible asset sales after posting disappointing results. Its chief executive quit in June. The first approach, tipped by local media as likely to be from private equity firm TPG [TPG.UL], came late last month, with an expression of interest in buying Sky City for cash at a significant premium to its then market price of NZ$4.33. Australian rivals include Tabcorp Holdings Ltd (ASX: TAH.ax) , Tattersall's Ltd TTS.AX and Publishing and Broadcasting Ltd (ASX: PBL.ax) . Tabcorp and Tattersall's have said they are not interested. Sky City has an enterprise value-to-earnings before interest, tax, depreciation and amortisation (EV/EBITDA) of 11.7, compared to a ratio of 10 for Tabcorp and Tattersall's 13.7. Citigroup has said in a report that recent Australasian casino deals had an average EV/EBITDA ratio of around 10 times. Sky City said on Tuesday it would probably return cash to shareholders if it sells its casino in the Australian city of Adelaide. It is also looking at selling its cinemas business. Goldman Sachs JBWere has said the Adelaide casino could fetch US$342 million and the cinemas about US$91 million. (NZ$1=$1.34 |
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clownfish75
Senior |
22-Oct-2007 11:19
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0.68.......will be eaten up ...i think there is something going on ...perhaps an announcement soon.... | |
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clownfish75
Senior |
22-Oct-2007 10:54
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this one penny blue chip stocks...like m'sia listed genting berhad in Msia ipo 50 cents shoot up to 44.00 ringgit highest in APRIL this year until they have to split 5 to 1 .... GOOD for long term investment....even if it only went up to 3.00 good enough for me.... | |
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clownfish75
Senior |
22-Oct-2007 10:49
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REBOUNDING NICELY............... strong support at 0.67 = 5 mil.......... BB now nibling | |
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clownfish75
Senior |
21-Oct-2007 21:24
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Shareholders of Genting International yesterday, approved a plan to buy 25% stake in its sister firm Star Cruises, meaning that Genting will take over control of the newly planned casino resort called Resorts World at Sentosa. Genting is listed on the Singapore Exchange and a statement released by them said the proposal was "duly passes" at a meeting. The amount of the Star Cruise stake purchased is $255 million, and the money assures that Genting will be in control of the whole project. The resort project will include gaming facilities, the world's largest oceanarium, and a Universal Studios theme park. The target opening date is sometime in 2010. Genting Bhd, which contains the both Genting and Star Cruises won a bid in December to create Singapore's second casino, which is to be located in Sentosa Island. A problem came in when Macau gambling mogul Stanley Ho would have had an indirect stake in the Sentosa project. Genting has since pulled out of the partnership with Ho, and when Star Cruises remained part of a deal with Ho, they were forced to sell it's 25% stake to Genting. Now, without Ho involved, Genting has regained control of the project, and plans are proceeding for the resort. Las Vegas Sands is building the first casino in Singapore on the downtown Marina Bay waterfront. |
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