Post Reply
15021-15040 of 23260
Agreed.
machineoperator ( Date: 14-May-2010 15:18) Posted:
who ever it is the one that get this really wrong is the one with C@#Bank..... coz they have been saying genting SP only worth 77ct of something like that .... 
rickyw ( Date: 14-May-2010 11:23) Posted:
some broker said TP$1.20, another broker said fair price $0.88
which one is correct? haiyoh...i just said...trend is ur friend, when it must be down then it should be down, if otherwise must be some trick or better dont touch..... |
|
|
|
who ever it is the one that get this really wrong is the one with C@#Bank..... coz they have been saying genting SP only worth 77ct of something like that ....
rickyw ( Date: 14-May-2010 11:23) Posted:
some broker said TP$1.20, another broker said fair price $0.88
which one is correct? haiyoh...i just said...trend is ur friend, when it must be down then it should be down, if otherwise must be some trick or better dont touch..... |
|
Not all players are accounting inclined like yourself Mr. Loyfam88. And not all investors are astute businessman like Cheongwee. If investor is an accountant and player is a businessman, both their views will be different from the ordinary retail players. so that is why there are people buying and people selling shares.
ya no money n no skill not like I punter them to play this counter haha.
freshmind ( Date: 14-May-2010 15:04) Posted:
I have a same feeling that I have when the time the price hit above 1.20, there is still many ppl keep buying up to 1.30. If you look at the current situation, it is surprising some ppl still keep calling ppl to buy this shares after the report issued out. It's weird and i decided to stop here and leave this counter in short term. That's so many choice in the share market, don't play with the BBs when they try to make their big money from poor retail buyers or we may end up the big losers.
yummygd ( Date: 14-May-2010 14:59) Posted:
| i think it is so obvious the one lotter buying up is Big dogs offloading to unknown retaliers. haiz. I am seriously thinking that no position now since i sold all my shares away. |
|
|
|
Normally, that won't last for very long...
Because people simply can't leave the market alone...
Their hearts are always itching to
make money!..
Especially when they are "
pok!", that itch is even
greater than before...
This is the law of the stock market...
hehehe...
I have a same feeling that I have when the time the price hit above 1.20, there is still many ppl keep buying up to 1.30. If you look at the current situation, it is surprising some ppl still keep calling ppl to buy this shares after the report issued out. It's weird and i decided to stop here and leave this counter in short term. That's so many choice in the share market, don't play with the BBs when they try to make their big money from poor retail buyers or we may end up the big losers.
yummygd ( Date: 14-May-2010 14:59) Posted:
i think it is so obvious the one lotter buying up is Big dogs offloading to unknown retaliers. haiz. I am seriously thinking that no position now since i sold all my shares away.
freshmind ( Date: 14-May-2010 14:55) Posted:
Agreed with you. Loss of casino in UK is considered as part of loss in Genting sp as well and we should be misleading by only the profit from RWS. Our any single share of Genting sp bear the cost in both operation.
|
|
|
|
Impairment is as a result of market valuation. I've not seen the detailed report. But basically, eg. they could have bought a property that was $100 but now it's only worth $60. So from accounting perspective, they need to value it at $60 and take the hit of impairment loss. But if you were to evaluate the result from a operational profit perspective, yes it's looking positive. In this case, the impairment hopefully is one off.
I am no expert and a genting investor like everyone else with most holding at 70 cents and alittle at 1.055. I am using my accounting knowledge to evaluate the situation.
yummygd ( Date: 14-May-2010 14:48) Posted:
but the company is not making money n is losing so much. even if RWS is making 109mil its still not enough to cover UK loss. so why is it still good??This counter not only reflecting RWS. its reflecting the whole operations units right???At first i thought Genting Singapore is only RWS i didn't think its the whole group. Unless the UK one they do something about it...very hard of company to make money..
loyfam88 ( Date: 14-May-2010 13:22) Posted:
| From a accounting perspective, their loss is due to impairment loss in UK operations. Impairment arises out of accounting treatment. Excluding this, they are making profit. To me, this is actually a good sign if you know how to read financial statement. |
|
|
|
i think it is so obvious the one lotter buying up is Big dogs offloading to unknown retaliers. haiz. I am seriously thinking that no position now since i sold all my shares away.
freshmind ( Date: 14-May-2010 14:55) Posted:
Agreed with you. Loss of casino in UK is considered as part of loss in Genting sp as well and we should be misleading by only the profit from RWS. Our any single share of Genting sp bear the cost in both operation.
|
|
Agreed with you. Loss of casino in UK is considered as part of loss in Genting sp as well and we should be misleading by only the profit from RWS. Our any single share of Genting sp bear the cost in both operation.
i agree. i dun see how even reporting such a huge loss this is still a good stock. n how the sercurities can still call buy...i am still learning so maybe i am not seeing something e experts do. but one thing i have learnt...their calls can kill so must chose wisely. do what i am comfortable with make or lose so be it
freshmind ( Date: 14-May-2010 14:43) Posted:
| From all these info and Buy Calls, that's only one strong feeling, somebody or BBs got stuck there already and plan to clear their stocks in fast & short term... scaring and worrying...
|
|
but the company is not making money n is losing so much. even if RWS is making 109mil its still not enough to cover UK loss. so why is it still good??This counter not only reflecting RWS. its reflecting the whole operations units right???At first i thought Genting Singapore is only RWS i didn't think its the whole group. Unless the UK one they do something about it...very hard of company to make money..
loyfam88 ( Date: 14-May-2010 13:22) Posted:
| From a accounting perspective, their loss is due to impairment loss in UK operations. Impairment arises out of accounting treatment. Excluding this, they are making profit. To me, this is actually a good sign if you know how to read financial statement. |
|
Bullishness has arrived for this baobei. Most securities firms are upgrading this share based on one quarter performance. I see it is for real. Next quarter results beyond imagination. Buy some and keep.
one lotter still active haha lot up maybe i wait later n try shorting again after bb finish selling.
From all these info and Buy Calls, that's only one strong feeling, somebody or BBs got stuck there already and plan to clear their stocks in fast & short term... scaring and worrying...
Warrants Highlight
| Genting Singapore - Top & Bottom Line Looking Strong |
| 14 May 10 |
Call GentingSMBLeCW100802 (KR2W) exercise price $0.950.*
Call GentingSMBLeCW100702 (KH8W) exercise price $1.05.*
Long-datedGentingSMBLeCW120402 (J2UW) exercise price $1.15.*
In an after-market announcement yesterday evening, Genting Singapore reported a first quarter loss of S$396.3mn versus the loss of S$31.9mn last year. Macquarie Research Equities (MRE) examined the company’s results and had the following to say according to excepts from a note published yesterday…
|
Singapore 1Q10 top and bottom line look strong
1Q10 Singapore revenue was S$335m over 45 days, or S$7.44m/day. MRE’s full year revenue forecast for Singapore is S$2.06bn. Universal Studios made up less than 10% of the top line. EBIT in Singapore was S$109m for just 45 days, compared to MRE’s full year forecast of S$478m. Of course, Marina Bay Sands (MBS) opened in late April, and GENS did not disclose what the change in revenue was since the MBS opening, so these numbers have not stabilised by any means.
UK had S$478m impairment loss
This was for the uncertainty in the UK as well as the movement in the GBP rate. The book value of the UK operations after this write-down is just over GBP400m.
Tables being ramped up post MBS opening
The company said they had 300 tables open of which a third are VIP and 1200 slots operating. What was interesting was their comment that they had opened more tables post the MBS opening, suggesting a smaller cannibalisation than the market may expect. Of course, this may not account for movements in average win per table, which they said was "comparable" to Macau on a "blended" basis. The VIP mass mix was 50:50 as defined by Genting (VIP includes mass premium), and there was no significant deviation from the theoretical win rate.
Risk on the upside
It is early days yet and the numbers are still subject to shift changes like MBS' opening. However, if MRE assumes that 95% of the revenue was from the casino, they are looking at a S$7.1m/day revenue, which would give a total annualised revenue of S$2.6bn pa. If as the company suggests it has been opening more tables post the MBS opening, then MRE is looking at fairly significant upward revisions, because MRE was only looking at annual gaming revenue of S$1.8-1.9bn for Sentosa. However, because the company has declined to give any sort of guidance on their May revenue, MRE rather suspects the market will also hold off till 2Q10 before looking to up their numbers.
Macquarie Genting Warrants
Trading Call Warrants (Short term bullish view)
GentingSMBLeCW100802 (KR2W) exercise price $0.950.*
GentingSMBLeCW100702 (KH8W) exercise price $1.05.*
GentingSMBLeCW100903 (K1TW) exercise price $1.10.*
GentingSMBLeCW100621 (J2NW) exercise price $1.20.*
Long Dated Warrants (Long term bullish view)
GentingSMBLeCW120402 (J2UW) exercise price $1.15.*
|
Thursday: 13 MAY 2010
Roaring Start to 2010
OCBC Securities Pte Ltd
14 May 2010
Maintain
BUY
Previous Rating: BUY
Current Price: S$0.975
Fair Value: S$1.29
Summary: Genting Singapore (GS) reported a very strong set of 1Q10 results, with revenue jumping 337.0% YoY and 268.4% QoQ to S$460.4m, meeting 24.2% of our FY10 forecast. Underlying net profit came in at S$54.1m, marking a sharp turnaround from losses of S$23.3m in 1Q09 and S$82.3m in 4Q09. The strong outperformance came from the start of the Resorts World Sentosa (RWS) integrated resort where the operations were not only immediately profitable but also achieved an impressive adjusted EBITDA margin of 32.6%. While we are keeping our revenue estimates intact, we are drastically revising up our earnings estimates for FY10 to an underlying profit of S$187.9m from a net loss of S$15.1m; we are also raising our FY11 profit forecast by 192.5%. As a result, our DCF-based fair value jumps from S$1.04 to S$1.29. Maintain BUY.
Frankly,too risky to enter this counter at the moment,you won't know when the music will stop and ends up being the last person holding the ball.
dbs upgrade to buy , expecting casino good earning.Buy more earn more don't miss this boat....
From a accounting perspective, their loss is due to impairment loss in UK operations. Impairment arises out of accounting treatment. Excluding this, they are making profit. To me, this is actually a good sign if you know how to read financial statement.
