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China Fishery - Low PE
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rotijai
Supreme |
02-May-2013 17:49
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gg | ||||
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oldflyingfox
Master |
02-May-2013 16:26
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But what is your predication from here onward at $1.61 just before Q1 result after close today? | ||||
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hello123
Senior |
02-May-2013 15:04
Yells: " google ' sgx swinger ' - for how stock operators work " |
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Genting, wat a bounce since we predicted a crash to a bottom at 138-39 for a bounce for more details , see my genting chart tq
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krisluke
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02-May-2013 11:15
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- Las Vegas Sands Corporation (LVS) announced its 1QFY13 results yesterday. LVS' results were above consensus estimates due to strong performances from the casinos in Macau and Singapore.
- LVS' subsidiary, Marina Bay Sands (MBS) reported a 16.5% QoQ expansion in revenue in 1QFY13 while EBITDA rose 31.2% QoQ to US$396.8mil. EBITDA margin was 49.9% in 1QFY13.
- If we were to adjust for the lower VIP win percentage in 4QFY12, then MBS' EBITDA would have declined 2.4% QoQ in 1QFY13.
- MBS benefited from a climb in the rolling chip volume and higher win percentage in the VIP segment in 1QFY13 compared with 4QFY12.
- MBS' rolling chip volume rose 10.6% QoQ to US$18.2bil in 1QFY13 while volume of business in the mass market segment improved 7.8% to US$1.2bil. Win percentage of the VIP segment inched up from 2.14% in 4QFY12 to 2.51% in 1QFY13.
- Credit extension in 1QFY13 was not as aggressive as 4QFY12. MBS' accounts receivable rose by US$41.4mil or S$66.4mil from US$1.05bil (S$1.28bil) in 4QFY12 to US$1.09bil (S$1.34bil) in 1QFY13. Provisions for doubtful debts was US$39mil (S$48.3mil) in 1QFY13 versus US$38mil (S$46.5mil) in 4QFY12.
- However for the first time in its history, MBS wrote-off accounts receivable of US$11mil (S$13.6mil) in 1QFY13.
- Hotel occupancy rates remained high at MBS in 1QFY13. Average hotel occupancy rate was 98.5% in 1QFY13 while average daily rate was US$378.
- In a separate development, Genting Singapore PLC (GenS) clarified that Mr Tan Hee Teck is neither slated to move to another post in the Genting Group nor has Resorts World Sentosa appointed any CEO-designate successor.
- In spite of the positive follow-through from MBS' results to GenS, we are maintaining a Sell on GenS due to its demanding valuations. The group is expected to release its 1QFY13 results today.
Source: AmeSecurities
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krisluke
Supreme |
02-May-2013 11:00
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Highlights
Las Vegas Sands reports its 1QFY13 results this morning and its Singapore property, Marina Bay Sands (MBS) showed a record high in its gross gaming revenue (GGR) for the quarter at US$876.2m (Yoy: +1.24% Qoq: +14.4%). Yoy: Total volume increased across the board (rolling chip: +42.2% non-rolling chip: 2.4% slot: 1.6%) during the quarter. However, GGR turned out to be mixed due to mixed hold rate. Gross rolling chip revenue fell 0.3% from lower hold rate of 2.51% (1QFY12: 3.58%), meanwhile gross nonrolling chip revenue grew 7% as win increased by 1-ppt. Slot revenue fell 4% as slot hold decreased by 0.3-ppt. Qoq: Gross rolling chip revenue grew by 29.7% largely due to the improvement from both volume (+10.6%) and hold rate (4QFY12: 2.14%). Non-rolling chip’s volume went up by 7.8%, bringing its revenue to a growth of 3.3% despite the lower win rate of 23.2% (4QFY12: 24.2%). However for slot machines, the volume growth of 3.6% did not managed to fully offset its lower slot hold of 5.1% (4QFY12: 5.4%), resulting in lower slot revenue (-2.2%) during the quarter. From the conference call held earlier, management mentioned that the slot segment is still showing some weakness despite the slight growth in volume as local market have not fully recovered from the slowdown in economy last year. Majority of MBS’s VIP players are from China mainland (~70%) and Singaporean Chinese. Growth in mass volume was due to enlarged base from the entrance of new players. As for the update on casino possibilities over in Japan, LVS’s management also shed some light, saying that the legislation could be brought to the table as early as Nov ’13 and it will take 1-2 years to get a green light. They also added that companies who stand a high change to get a license are LVS themselves and Genting Singapore. Assuming that MBS’s rolling chip market share stays at 53%, Singapore’s VIP volume grew 36.8% yoy and 10.6% qoq respectively. Hence, we believe the overall market volume in Singapore could still be growing mildly. With that, we could foresee that GenS could also perform similarly based on MBS’s results. GenS is expected to release its results later today. Risks1) Regulatory risk 2) Further decline in RWS’ market share to MBS 3) Weaker-than-expected hold percentage in the VIP segment 4) Worsening in economic condition and 5) Failure in casino license renewal. ForecastsUnchanged. RatingHOLD
ValuationGiven that share price have run 7.8% since our last report on 25th Apr, we downgrade GenS to HOLD with unchanged TP of SG$1.58 as total returns is now less than 10%. Source: Hong Leong - 2 May 2013 |
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oldflyingfox
Master |
02-May-2013 10:11
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I think today ramp up is related to the good result from Sands, GSP is releasing the Q1 result tonite. Below is link of the Sands news from yahoo: http://sg.finance.yahoo.com/news/macau-helps-las-vegas-sands-205018413.html |
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Octavia
Supreme |
02-May-2013 10:07
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The spike probably came from Las Vegas Sands’ results offers broadly positive read-through into the Singapore market. LVS management noted strong financial results in Singapore, with meaningful growth in gaming and non-gaming revenues. Marina Bay Sands delivered a record US$18.2b Rolling Chip volume, +42.2% y/y, +10.5% q/q. Meanwhile, Non-Rolling Chip drop increased 2.4% y/y to US$1.19b, and slot handle inched up 1.6% to US$2.79b. EBITDA at US$396.8m was up 31.2% q/q, but down 16.0% y/y, with the lumpiness due to luck factor (Rolling Chip win 1Q13: 2.51%, 4Q12: 2.14%, 1Q12: 3.58%). The high margin hotel room and mall segments continued to reflect strong revenue growth, with occupancy remaining high at 98.5% during the quarter. BOA-ML’s upgrade to Buy last wk, with TP $1.81, citing that earnings have hit a trough and could surprise in the next few quarters. AmFraser however, while acknowledging positive read-through from MBS’ results to GENS, maintains Sell on the latter due to demanding valns. GENS will release 1Q13 results today after mkt. |
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Octavia
Supreme |
02-May-2013 10:02
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You are rite.I read it somewhere yesterday,somehow could not find the article again. Thanks for sharing.
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oldflyingfox
Master |
02-May-2013 09:57
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This report was not true, it has clarified in the SGX website: The Company refers to the article appearing on page B8 of today’s edition of The Straits Times (“Former top civil servant tipped to head RWS”). The Company would like to clarify that Mr. Tan Hee Teck is neither slated to move to another post in the Genting Group, nor has Resorts World Sentosa (“RWS”) appointed any CEO-designate successor. Mr. Goh Chye Boon joined RWS as Executive Vice President of Resort Operations in January 2013 and currently oversees the operational non-gaming functions of RWS. Previously heading up the China Business Partnership unit of Government Investment Corporation Singapore, he also held various positions in the private and public sector, and was the CEO of the Sino-Singapore Tianjin Eco-City, a flagship project between the People’s Republic of China and the Singapore Government.
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bryangoh
Member |
02-May-2013 09:43
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Sold at 1.61, too good to believed it will ramp up further. |
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allanzzz
Member |
02-May-2013 09:40
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gap up today, somehow like tuesday, gap up then falls | ||||
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Octavia
Supreme |
02-May-2013 09:37
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Papers reported Mr Goh Chye Boon is slated to take over as chief executive officer of RWS, whereas current CEO Tan Hee Teck is expected to move to another post in the Genting Group.
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oldflyingfox
Master |
02-May-2013 09:33
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BBs really going after the short sellers and I sold some on Tuesday when it fell, damn! | ||||
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halleluyah
Supreme |
02-May-2013 09:19
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wat big deal?? dividend only 1cts.
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dicksonh
Veteran |
02-May-2013 09:11
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Sudden ramp up!! Wonder if it can break 1.7 today? |
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Tomique
Master |
30-Apr-2013 10:38
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Our Sg BBs think like a teenager. Never mature, never look far. Sometimes very penny-wise pound foolish. They hold big chunks of shares, but trade the shares down so as to make some money by losing book value. They prefer to lose in books but gain in bank accounts. Pathetic. | ||||
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LOVEYOURSELF
Member |
30-Apr-2013 10:15
Yells: "Love Yourself and Be Kind To Others" |
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Why share price drop? I thought if it is true that top civil servant goh chye boon is tipped to be the new ceo, it should be more positive for RWS. What say u? | ||||
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oldflyingfox
Master |
29-Apr-2013 21:28
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I think the BBs in this counter are very cunning, from the chart you can see that it has raised 2 times on 22 Feb and 26 Mar but follow by continue down which had caught me. And for the 3rd time now, it just shoot up sharply and I'm sure that there is no much retailers dare to follow and chase after, everyone just watch the BBs collecting most of it. | ||||
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bryangoh
Member |
29-Apr-2013 21:22
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Sometime hard to follow 'buy low and sell high' when price started to drop we hope it will drop further, when price start to rise up we wait for it to drop back, but keep rising scare we might not catch the train, we jump in and get caught in the squeeze. |
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oldflyingfox
Master |
29-Apr-2013 21:08
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I have start to learn my lesson last year when I sold all at a loss when it hit the low of $1.19. Should be " buy low sell high" and not the other way. This round, it looks powerful and moved higher much sharply. I think it kills lots of shorties, The volume is still there, so I will continue to monitor to see whether it could break the next resistance at $1.59 before deciding to make some profit. Sometime, I just wonder is there some inside news on the coming Q1 result to be out after market closed on 2nd May.
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