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Johngenting Veteran	22-Jun-2017 21:52        Johngenting About Contact  Quote this Post!
x 0   x 0  Alert Admin	Thanks Bro Johngenting      ( Date: 22-Jun-2017 21:51) Posted: Thanks BRO Trader130      ( Date: 22-Jun-2017 21:45) Posted: All the factors that underpinned our initial Buy thesis on Genting Singapore (GENS) seems to have materialized. Its share price has appreciated 1x (STI +11% YTD) the post-opening all-time low in Feb-2016, driven by a (1) 250% profit growth recovery, driven by cost cuts, (2) clear dividend policy and (3) perpetual redemption. Further upside requires revenue growth, but this lacks near-term potential. We thus downgrade GENS to Hold and cut our target price by 11% to S$1.20.    At 12/13x FY17/18E EV/EBITDA (> 20% discount to Macau, we believe the market has priced in a 85% fall in FY17E bad debt impairment and S$118mn of perpetual interest cost savings. Moreover, we see no other cost-saving avenues. An S$3c annual DPS, in our view, is optimal and limits yield attractions to the stock. GENS&rsquo s new dividend policy was solely to meet parentco Genting Berhad&rsquo s (GENT) US$1bn bond requirements and its existing cash flow needs.      Prospects for Singapore gross gaming revenue (GGR) growth are limited as both casino operators are unwilling to expand credit to VIPs and have failed to convert growing visitation to mass GGR. The upcoming Fox Studio theme park at the Malaysia casino will also cap Singapore&rsquo s growth. A GENS market share recovery would require capex to reconfigure its property outlay, thus spelling out near-term cost escalation, and it would require time to realize its strategy.      Our target price is based on FY17E 12x EV/EBITDA, 12% below mean and 20% lower than Macau&rsquo s (our standard valuation for Singapore casinos), implying 25x FY17E PE. Unexciting growth prospects relative to peers justifies the discount. Upside risk: the event catalyst of winning the Japan Integrated Resort. Downside risk: if GENS fails to win Japan, concern over its assuming of Resort World Vegas from GENT could resurface. Note we have lifted FY17-19E by c.20-30% to account for interest savings from perpetual redemption.
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Johngenting Veteran	22-Jun-2017 21:51        Johngenting About Contact  Quote this Post!
x 0   x 0  Alert Admin	Thanks BRO Trader130      ( Date: 22-Jun-2017 21:45) Posted: All the factors that underpinned our initial Buy thesis on Genting Singapore (GENS) seems to have materialized. Its share price has appreciated 1x (STI +11% YTD) the post-opening all-time low in Feb-2016, driven by a (1) 250% profit growth recovery, driven by cost cuts, (2) clear dividend policy and (3) perpetual redemption. Further upside requires revenue growth, but this lacks near-term potential. We thus downgrade GENS to Hold and cut our target price by 11% to S$1.20.    At 12/13x FY17/18E EV/EBITDA (> 20% discount to Macau, we believe the market has priced in a 85% fall in FY17E bad debt impairment and S$118mn of perpetual interest cost savings. Moreover, we see no other cost-saving avenues. An S$3c annual DPS, in our view, is optimal and limits yield attractions to the stock. GENS&rsquo s new dividend policy was solely to meet parentco Genting Berhad&rsquo s (GENT) US$1bn bond requirements and its existing cash flow needs.      Prospects for Singapore gross gaming revenue (GGR) growth are limited as both casino operators are unwilling to expand credit to VIPs and have failed to convert growing visitation to mass GGR. The upcoming Fox Studio theme park at the Malaysia casino will also cap Singapore&rsquo s growth. A GENS market share recovery would require capex to reconfigure its property outlay, thus spelling out near-term cost escalation, and it would require time to realize its strategy.      Our target price is based on FY17E 12x EV/EBITDA, 12% below mean and 20% lower than Macau&rsquo s (our standard valuation for Singapore casinos), implying 25x FY17E PE. Unexciting growth prospects relative to peers justifies the discount. Upside risk: the event catalyst of winning the Japan Integrated Resort. Downside risk: if GENS fails to win Japan, concern over its assuming of Resort World Vegas from GENT could resurface. Note we have lifted FY17-19E by c.20-30% to account for interest savings from perpetual redemption.    Johngenting      ( Date: 22-Jun-2017 21:26) Posted: Please updates latest info Here
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Trader130 Supreme	22-Jun-2017 21:49        Trader130 About Contact  Quote this Post!
x 0   x 0  Alert Admin	One of reason- Deutsche Bank  Downgrade GS from buy to Hold ....WTF Trader130      ( Date: 22-Jun-2017 21:45) Posted: All the factors that underpinned our initial Buy thesis on Genting Singapore (GENS) seems to have materialized. Its share price has appreciated 1x (STI +11% YTD) the post-opening all-time low in Feb-2016, driven by a (1) 250% profit growth recovery, driven by cost cuts, (2) clear dividend policy and (3) perpetual redemption. Further upside requires revenue growth, but this lacks near-term potential. We thus downgrade GENS to Hold and cut our target price by 11% to S$1.20.    At 12/13x FY17/18E EV/EBITDA (> 20% discount to Macau, we believe the market has priced in a 85% fall in FY17E bad debt impairment and S$118mn of perpetual interest cost savings. Moreover, we see no other cost-saving avenues. An S$3c annual DPS, in our view, is optimal and limits yield attractions to the stock. GENS&rsquo s new dividend policy was solely to meet parentco Genting Berhad&rsquo s (GENT) US$1bn bond requirements and its existing cash flow needs.      Prospects for Singapore gross gaming revenue (GGR) growth are limited as both casino operators are unwilling to expand credit to VIPs and have failed to convert growing visitation to mass GGR. The upcoming Fox Studio theme park at the Malaysia casino will also cap Singapore&rsquo s growth. A GENS market share recovery would require capex to reconfigure its property outlay, thus spelling out near-term cost escalation, and it would require time to realize its strategy.      Our target price is based on FY17E 12x EV/EBITDA, 12% below mean and 20% lower than Macau&rsquo s (our standard valuation for Singapore casinos), implying 25x FY17E PE. Unexciting growth prospects relative to peers justifies the discount. Upside risk: the event catalyst of winning the Japan Integrated Resort. Downside risk: if GENS fails to win Japan, concern over its assuming of Resort World Vegas from GENT could resurface. Note we have lifted FY17-19E by c.20-30% to account for interest savings from perpetual redemption.    Johngenting      ( Date: 22-Jun-2017 21:26) Posted: Please updates latest info Here
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Trader130 Supreme	22-Jun-2017 21:45        Trader130 About Contact  Quote this Post!
x 0   x 0  Alert Admin	All the factors that underpinned our initial Buy thesis on Genting Singapore (GENS) seems to have materialized. Its share price has appreciated 1x (STI +11% YTD) the post-opening all-time low in Feb-2016, driven by a (1) 250% profit growth recovery, driven by cost cuts, (2) clear dividend policy and (3) perpetual redemption. Further upside requires revenue growth, but this lacks near-term potential. We thus downgrade GENS to Hold and cut our target price by 11% to S$1.20.    At 12/13x FY17/18E EV/EBITDA (> 20% discount to Macau, we believe the market has priced in a 85% fall in FY17E bad debt impairment and S$118mn of perpetual interest cost savings. Moreover, we see no other cost-saving avenues. An S$3c annual DPS, in our view, is optimal and limits yield attractions to the stock. GENS&rsquo s new dividend policy was solely to meet parentco Genting Berhad&rsquo s (GENT) US$1bn bond requirements and its existing cash flow needs.      Prospects for Singapore gross gaming revenue (GGR) growth are limited as both casino operators are unwilling to expand credit to VIPs and have failed to convert growing visitation to mass GGR. The upcoming Fox Studio theme park at the Malaysia casino will also cap Singapore&rsquo s growth. A GENS market share recovery would require capex to reconfigure its property outlay, thus spelling out near-term cost escalation, and it would require time to realize its strategy.      Our target price is based on FY17E 12x EV/EBITDA, 12% below mean and 20% lower than Macau&rsquo s (our standard valuation for Singapore casinos), implying 25x FY17E PE. Unexciting growth prospects relative to peers justifies the discount. Upside risk: the event catalyst of winning the Japan Integrated Resort. Downside risk: if GENS fails to win Japan, concern over its assuming of Resort World Vegas from GENT could resurface. Note we have lifted FY17-19E by c.20-30% to account for interest savings from perpetual redemption.    Johngenting      ( Date: 22-Jun-2017 21:26) Posted: Please updates latest info Here Trader130      ( Date: 22-Jun-2017 19:36) Posted: All runours bullshit one... Wait it drop and collect more before july suka suka downgrade TP funny hoh...
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Johngenting Veteran	22-Jun-2017 21:26        Johngenting About Contact  Quote this Post!
x 0   x 0  Alert Admin	Please updates latest info Here Trader130      ( Date: 22-Jun-2017 19:36) Posted: All runours bullshit one... Wait it drop and collect more before july suka suka downgrade TP funny hoh...  tormater      ( Date: 22-Jun-2017 18:51) Posted: Yes transforned in one way or another. Lol. Shocked to see 6 cents drop. What's the rumour
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Trader130 Supreme	22-Jun-2017 19:36        Trader130 About Contact  Quote this Post!
x 0   x 0  Alert Admin	All runours bullshit one... Wait it drop and collect more before july suka suka downgrade TP funny hoh...  tormater      ( Date: 22-Jun-2017 18:51) Posted: Yes transforned in one way or another. Lol. Shocked to see 6 cents drop. What's the rumour? Trader130      ( Date: 22-Jun-2017 15:39) Posted: Go watch transformer movie later 🤗 😁 Hope when i come back Share price can transform💊 💊 💊
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tormater Senior	22-Jun-2017 18:51        tormater About Contact  Quote this Post! Style: Fundamental
x 0   x 0  Alert Admin	Yes transforned in one way or another. Lol. Shocked to see 6 cents drop. What's the rumour? Trader130      ( Date: 22-Jun-2017 15:39) Posted: Go watch transformer movie later 🤗 😁 Hope when i come back Share price can transform💊 💊 💊
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Trader130 Supreme	22-Jun-2017 18:50        Trader130 About Contact  Quote this Post!
x 0   x 0  Alert Admin	May i know who is the market maker? I guess SGX Hahaha chanbs      ( Date: 22-Jun-2017 17:08) Posted: Without BB, there is NO market here ... Simple ... Can' t rely on retailers to generate Volume ... Really pathetic  sunter      ( Date: 22-Jun-2017 17:07) Posted: why is singapore securities commision allowed market maker to manipulate  noble and genting sp   share so much , those company market makers must be call to answer
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Trader130 Supreme	22-Jun-2017 17:35        Trader130 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Too over rely on TA liao ... luckily my backup funds are here to support .. now cannot play play liao 😂 Must wait till it go up🤣 😅 wishbone      ( Date: 22-Jun-2017 17:02) Posted: As if it is fighting with Noble to see who is the biggest loser today. One day can drop more than 5% for Gent Sing. WTF
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Trader130 Supreme	22-Jun-2017 17:28        Trader130 About Contact  Quote this Post!
x 0   x 0  Alert Admin	LAN LAN liao have to buy it.. Go mid term liao😔 😔 😔
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TenPips Veteran	22-Jun-2017 17:21        TenPips About Contact  Quote this Post!
x 0   x 0  Alert Admin	Surprisingly, Genting HK went up. *Scratch head* Perhaps, funds have earned enough and moving to another counter, or simply stay around by shorting it.  Luckily sold mine 2 weeks ago. Was still complaining didn' t manage to sell at 1.19. Today, i feel thankful liao. That' s trading...always " regret" and " heng ah" back and forth. Upz123      ( Date: 22-Jun-2017 14:10) Posted: This affects Genting HK.. but it seems the impact has spread to here as well :( *Genting Hong Kong - 44.9% associate Travellers Int' l ordered to suspend gaming operations at Resorts World Manila. - This is pending investigation into its alleged liability in a recent deadly attack at its hotel-casino complex. - Travellers contributed US$32.7m share of profit to GENHK' s core pretax loss of US$195.6m in FY16. - Trades at 0.54x P/B. TenPips      ( Date: 22-Jun-2017 13:36) Posted: I meant Philippines casino not being able to operate...not Genting HK.
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chanbs Elite	22-Jun-2017 17:08        chanbs About Contact  Quote this Post!
x 0   x 0  Alert Admin	Without BB, there is NO market here ... Simple ... Can' t rely on retailers to generate Volume ... Really pathetic  sunter      ( Date: 22-Jun-2017 17:07) Posted: why is singapore securities commision allowed market maker to manipulate  noble and genting sp   share so much , those company market makers must be call to answer . sunter      ( Date: 22-Jun-2017 16:34) Posted: genting sp ,for years hasn' t go up 5 cts per day ,but can drop 6,5 cts in a day.. how come  ? with assets improved , debts decreasing . cannot understand
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sunter Senior	22-Jun-2017 17:07        sunter About Contact  Quote this Post!
x 0   x 0  Alert Admin	why is singapore securities commision allowed market maker to manipulate  noble and genting sp   share so much , those company market makers must be call to answer . sunter      ( Date: 22-Jun-2017 16:34) Posted: genting sp ,for years hasn' t go up 5 cts per day ,but can drop 6,5 cts in a day.. how come  ? with assets improved , debts decreasing . cannot understand . sunter      ( Date: 22-Jun-2017 16:25) Posted: I  suspect genting sp traders /markets makers  are the same group as noble, they only know how to short the share
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bishan22 Supreme	22-Jun-2017 17:05        bishan22 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Shortists won today.....
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wishbone Master	22-Jun-2017 17:02        wishbone About Contact  Quote this Post!
x 0   x 0  Alert Admin	As if it is fighting with Noble to see who is the biggest loser today. One day can drop more than 5% for Gent Sing. WTF
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sunter Senior	22-Jun-2017 16:58        sunter About Contact  Quote this Post!
x 0   x 0  Alert Admin	when a blue chip share can drop 5% of its value in a day , it can be consider a junk stock sunter      ( Date: 22-Jun-2017 16:45) Posted: genting sp the worst performance share price today by percentage   as compare to peers chanbs      ( Date: 22-Jun-2017 16:44) Posted: Looking like it ... Not in the running / unsuccessful etc anyway, sands alrdy hvg orientation / training here from " visitors" ... Can' t say mor
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Demostation Supreme	22-Jun-2017 16:48        Demostation About Contact  Quote this Post!
x 0   x 0  Alert Admin	I said last week we can see it at one dot zero zero.   Coming near. rotijai      ( Date: 22-Jun-2017 16:45) Posted: sad to see gsp drops so much in 1 day... though i have been waiting for it to drop... waiting for the right entry level...
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rotijai Supreme	22-Jun-2017 16:45        rotijai About Contact  Quote this Post!
x 0   x 0  Alert Admin	sad to see gsp drops so much in 1 day... though i have been waiting for it to drop... waiting for the right entry level...
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jm2212 Master	22-Jun-2017 16:45        jm2212 About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	there might be announcement (bad) after market close today....insider run or short it down first
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sunter Senior	22-Jun-2017 16:45        sunter About Contact  Quote this Post!
x 0   x 0  Alert Admin	genting sp the worst performance share price today by percentage   as compare to peers chanbs      ( Date: 22-Jun-2017 16:44) Posted: Looking like it ... Not in the running / unsuccessful etc anyway, sands alrdy hvg orientation / training here from " visitors" ... Can' t say more sunter      ( Date: 22-Jun-2017 15:34) Posted: maybe genting sp ,cannot get japan casino tender , as reflected in thier weak share prices as compare to sand , mgm , wym,galaxy   casino
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