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Capitaland
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Joelton
Supreme |
03-Jun-2021 09:26
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Genting Singapore rises 1.2% on heavy trading, after firm qualifies for Yokohama IR RFP
Maybank Kim Eng upgrades call on the stock from " hold" to " buy" and raises its target price to S$1.16 from S$0.86
SHARES of Genting Singapore rose 1.2 per cent on Wednesday amid heavy trading, after the operator of Resorts World Sentosa was revealed to be one of two qualifying parties for the Yokohama integrated resort (IR) request for proposal (RFP).
The counter rose as high as 88 Singapore cents on Wednesday afternoon, before ending the day at 86.5 cents. Some 74 million shares changed hands, making it the fifth most traded stock on the Singapore Exchange by volume.
No married deals took place throughout the day, according to ShareInvestor data.
While local authorities did not name the accepted parties for Yokohama' s IR RFP, Japanese public broadcaster NHK on Monday reported, citing unnamed sources, that one of the groups was a Genting joint venture (JV) with Japanese conglomerate Sega Sammy Holdings. The other qualifier is headed by US-listed Melco Resorts & Entertainment.
Yokohama is expected to announce the winner of its IR RFP process in the third quarter this year.
In a research report on Wednesday, Maybank Kim Eng (Maybank KE) upgraded its call on Genting Singapore to " buy" from " hold" while raising its target price to S$1.16 from S$0.86 previously.
This comes on the assumption that Genting' s JV with Sega Sammy Holdings will win the Yokohama IR RFP.
Maybank KE analyst Yin Shao Yang estimates that the anticipated win will add S$1.8 billion or S$0.30 per share to Genting' s earnings, should the group own 50 per cent of the JV.
Assuming that the Yokohama IR will be 100 per cent equity financed, he reckons the project will generate US$2.7 billion in net profit in its first full year of operations.
" On another note, Sega Sammy stated that it would prefer a minority stake in any JV for a Yokohama IR bid. Thus, we gather that Genting may own at least 50 per cent of the Genting-Sega Sammy JV," said the analyst.
Referring to the upcoming Yokohama mayoral elections to be held on Aug 29 this year, the analyst deems Genting a " tactical buy" even in the event that an anti-IR mayor is elected as no value from a Yokohama IR has been imputed into its share price.
" Genting' s RWS operates, in our opinion, in the most highly regulated casino jurisdiction in the world. In our view, Genting has strong ESG (environmental, social and corporate governance) credentials which stand out among its regional peers, especially the Macanese ones," said Mr Yin.
" Countries seeking to liberalise their casino industries like Japan are looking to Singapore' s highly-regulated casino industry and the strong ESG credentials it engenders for guidance. In our view, this could give Genting an advantage in bidding for a Japanese casino licence," he added.
KGI Research has a tactical " buy" call on the stock with a S$0.95 target price, while recommending entry at S$0.84 and a stop-loss point at S$0.78.
In a report on Wednesday, the research house noted that shares of Genting were recently sold off due to rising Covid-19 cases in Singapore and subsequent tightening measures. It deems this a buying opportunity as Genting remains a good reopening play in KGI' s view. The group also stands " a good chance" of securing the Yokohama IR project, it said.
" Analysts' expectations aren' t very high - mainly as we think that the markets have not fully accounted for the Yokohama IRs. There are eight ' buys' , 11 ' holds' , one ' sell' and a 12-month average target price of S$0.95 (implied 11 per cent upside)," noted the research house.
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Lobster
Elite |
02-Jun-2021 17:45
Yells: "Even Adam Khoo believes in the Black Market!" |
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Nice closing. Very disciplined trading. I wonder why when this stock was in its doldrums, nobody care to talk about its negativity but when it wakes up suddenly, all the barking noises start. Every where in this forum, there' s bound to be some moronic dogs around. Sad. |
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laughingchartist
Senior |
02-Jun-2021 15:50
Yells: "Provides TA strategies to top tier FIs! Always up for a chat" |
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Hi everyone, this is what I see for Genting sing going forward Price looks like it could very push higher on bullish momentum As usual, please DYODD!  I have also include the details for the DLC DNEW here for reference 
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taxiuncle
Veteran |
02-Jun-2021 12:56
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Dont get is better.....can concentrate business here. | ||||
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ETLee8
Master |
02-Jun-2021 12:49
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Just RFP only, may not get it. Genting quite desperate though as Malaysia lockdown, SG only two.
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Lobster
Elite |
02-Jun-2021 11:56
Yells: "Even Adam Khoo believes in the Black Market!" |
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In case you are lazy to read
Genting Singapore and Sega Sammy have since named Kajima Corporation as their contractor of choice for the Yokohama IR, which is the main contractor that oversaw construction of Genting Singapore&rsquo s Resorts World Sentosa (RWS). |
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Lobster
Elite |
02-Jun-2021 11:44
Yells: "Even Adam Khoo believes in the Black Market!" |
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Brokers' take: Maybank KE upgrades Genting to ' buy' on Yokohama IR hopesMAYBANK Kim Eng (Maybank KE) has upgraded its call on Genting Singapore to " buy" from " hold" while raising its target price to S$1.16 from S$0.86 previously. This comes on the assumption that Genting' s joint venture (JV) with Sega Sammy Holdings will win the Yokohama integrated resort (IR) request for proposal (RFP) process. Maybank KE estimates that the anticipated win will add S$1.8 billion or S$0.30 per share to Genting' s earnings, should the group own 50 per cent of the JV. To recap, Japanese media on Monday announced that only two groups had qualified for Yokohama' s IR RFP process, namely the Genting-Sega Sammy JV and Melco Resorts & Entertainment. Analyst Yin Shao Yang in a Wednesday report called the JV " unexpected" . Yokohama' s IR bid through a request for concept in 2019 had seven major gaming operators participating, including Genting. Assuming that the Yokohama IR will be 100 per cent equity financed, he estimates the project to generate US$2.7 billion in net profit in its first full year of operations. Mr Yin also highlighted that Genting had named Kajima Corporation, its main contractor who constructed Resorts World Sentosa (RWS) in Singapore, as its contractor for the potential deal. Yokohama is expected to announce the winner of its IR RFP process sometime in the third quarter this year. " On another note, Sega Sammy stated that it would prefer a minority stake in any JV for a Yokohama IR bid. Thus, we gather that Genting may own at least 50 per cent of the Genting-Sega Sammy JV," said the analyst. Referring to the upcoming Yokohama mayoral elections to be held on Aug 29 this year, the analyst deems Genting a " tactical buy" even in the event that an anti-IR mayor is elected, as no value from a Yokohama IR has been imputed into its share price. " Genting' s RWS operates, in our opinion, in the most highly regulated casino jurisdiction in the world. In our view, Genting has strong ESG (environmental, social and corporate governance) credentials which stand out among its regional peers, especially the Macanese ones," commented Mr Yin. " Countries seeking to liberalise their casino industries like Japan are looking to Singapore' s highly-regulated casino industry and the strong ESG credentials it engenders for guidance. In our view, this could give Genting an advantage in bidding for a Japanese casino licence," he added. |
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coolbear123
Senior |
02-Jun-2021 11:37
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Time to sell | ||||
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Lobster
Elite |
02-Jun-2021 09:21
Yells: "Even Adam Khoo believes in the Black Market!" |
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What you posted just confirmed what I said. No story telling, or fooling around from me. it is almost the historical happening ( to the price movement) when Genting was preparing for Sentosa bid, the time it was awarded and the building and opening sequence. I can safely say, history is respecting itself for this Japan bid. Today, opening up again, and I notice some people were complaining big volumes but little rise. It is called disciplined upside movement and not irrational exuberance lah. Now is not a time to cheong, but be patient. I believe funds ( both black and white) are accumulating, and these people are not buying so that you can play and make high profits off them. Otherwise, they can make you pay. Good wishes to all vested. Vested, and still nibbling. |
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Goldfinger
Supreme |
01-Jun-2021 22:06
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Yes agree it will move in stops and starts - I bought into GENS when they first announcement their plans to bid for the Sentosa and Marina IRs. Yes, they bid for both. At that time, it was Genting International and they owned some Perth casino and obscure UK betting houses. When they first announced, i recall it moved from 40 cents to maybe 60 cents. Then it brought on Genting Star Cruises/HK as a Partner, to hub their cruise ships at Harbourfront. After they made the short list, it moved up somemore. Then the field narrowed to between them and Kerzner. Unfort, the Kerzner founder died in some air crash I think. With the announcement of Universal Studioes as a partner, it surprised the market. It hit like 80cents to a SGD 1 dollar when they won the bid??? But, nothing shocked the market like its first quarter profit announcement, something like a few hundred million? Then, it soared to like $2 dollars plus. I should 2/3 of my shareholdings I bought at 40 cents then, a few hundred thousand. Kept some, for good memories. I fully expect history to repeat. This time, they will likely bring in Genting HK Cruise ships again, as Yokohama is a big port city. Btw, Yokohama is a much better location for the IR - land is cheaper than Tokyo, but it is still very near to Tokyo by train. Almost like a suburb of Tokyo.
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Lobster
Elite |
01-Jun-2021 21:51
Yells: "Even Adam Khoo believes in the Black Market!" |
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Let me be even more direct. Genting will keep moving up, from now on, bit by bit, albeit some consolidation phases, directly all the way to over a dollar until the results are announced, and then it will sit pretty steady until the IR opens, just the same way Genting was on its way to winning Singapore IR. Will be exact same pattern, . As for people who said that there will be no dividends when Japan is won, obviously he doesn' t know what' s he' s talking about. Don' t even belongs here. I don' t even want to insult his stock knowledge, if he has one. |
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Observers
Elite |
01-Jun-2021 21:33
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High chance Genting will win? I guess no more dividends once project is confirmed.
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Goldfinger
Supreme |
01-Jun-2021 21:21
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What I am puzzled and a bit annoyed - why was there no announcement by Genting? This should have been a very material price sensitive piece of news and the company should have halted to announce? | ||||
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Goldfinger
Supreme |
01-Jun-2021 20:49
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Let me be a bit direct - This is a joke - what contest???. The Partners for GENS are formidable - you have all heard of Kajima and Sega, I am sure. What on earth is Taisei and what do they do? Is this the best that Melco can bring to the table as a Partner? Also, having 2 Partners brings down the share cost of GENSing' s stake and investment cost. Kajima as a builder will be able to lower construction costs. Sega will bring its amusement talents and Pachinko machines into the IR. This is very powerful. I would give it a 70 vs 30 in favour of GENS. Best of luck to all holding.
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taxiuncle
Veteran |
01-Jun-2021 20:10
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So huge volume and up so little.........whats going on...huge short | ||||
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Lobster
Elite |
01-Jun-2021 11:37
Yells: "Even Adam Khoo believes in the Black Market!" |
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Well, honestly, it' s not like as if in the next decade the pandemic will be here. This IR is selduled to be ready only around 28/29. It will be opened with a vengeance when the world is reopened. in the meanwhile, we have to live as if the virus will be here forever, just as the seasonal,flu is here forever, aids is forever, tuberculosis is forever, malaria is forever, dengue is forever. AND DONT forget, once upon a time, we don' t have penicillin, anti boitics, panadols, vitamins, chicken pox vaccine, small pox vaccine, and viagra. |
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honesty
Master |
01-Jun-2021 11:14
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this pandemic will not run away, japan is having difficulty to clamp it down, whoever wins must have real deep pocket to see through many years, pandemic may be converted to endemic and this will put off guests/visitors
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Lobster
Elite |
01-Jun-2021 10:56
Yells: "Even Adam Khoo believes in the Black Market!" |
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But of course! Melco is never known for a reliable IR developer nor operator. plus need to look at GPS JAPANESE partners. Don' t forget our President speaks and lives like a Japanese. |
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pkli899
Supreme |
01-Jun-2021 10:48
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Thanks for the up date. A timely one in fact. So is 50 - 50 chance for GS. But I would think GS stands a better chance.
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Lobster
Elite |
01-Jun-2021 10:36
Yells: "Even Adam Khoo believes in the Black Market!" |
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If you just read the headlines and too excited or lazy to read the rest, just read this part. Vested.
Genting Singapore has teamed up with Japan&rsquo s Sega Sammy Holdings and Kajima Corporation as part of a powerful consortium. Sega Sammy is one of the country&rsquo s largest pachinko game manufacturers and is a 45% joint venture partner in South Korean integrated resort Paradise City, located in Incheon, alongside Paradise Co |
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