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ethan106
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24-Feb-2014 16:12

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Is the stock still alive?

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enjoylife77
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21-Feb-2014 15:23

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Float 12 billion shares. EPS cents 4.81 Dividend 1 cents Fair Value $ _______ .

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spore1
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21-Feb-2014 14:14

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Net profit of $707.7M. To me this is a very good amount of profit. How many company can make this kind of Net Profit. Some big comp can't even make 200M to 300M profit.

One Casino can generate so much $$. Getting another casino to be built in Korea will easily balloon to $1.5B Profit(est.)

New123 ( Date: 12-Jan-2014 12:36) Posted:

latest update for Genting sp

http://www.leadsleap.com/go/48804

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guoyanyunyan
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21-Feb-2014 13:34

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Has seen better days

4Q13 results disappoint for the fourth consecutive quarter on lower than theoretical VIP hold rate.

High-margin mass market gaming revenue continues to fall YoY. We cut our FY14E-15E earnings estimates by 8%.

Maintain SELL with a lower TP of $1.26 (-4%). Imputing any Japanese and Korean casino option value remains premature.

What?s New

GENS?s FY13 core net profit of SGD464.1m was only 78% of our and consensus full-year estimates. The shortfall was due to (i) below theoretical FY13 VIP hold rate of 2.5%, and (ii) FY13 mass market GGR fell 5% YoY (assumption: +0% YoY). More disconcertingly, we estimate that mass market gaming revenue fell 15% YoY in 4Q13, with impairment of trade receivables of SGD57.5m at a new high.

GENS expects Japan to pass the Promotion Law in May or June but concedes that even if it wins a casino licence, construction will not commence until 2017 as the Implementation Law still needs to be passed in 2015. On its 50%-owned South Korean JV, GENS did not add much other than to say that it will build and sell properties surrounding the integrated resort to generate higher returns.

What?s Our View

We cut our FY14E-15E earnings estimates by 8% as we now assume that FY14E mass market GGR will be flattish YoY (previous: +5% YoY). Consequently, we trim our TP by 4% to $1.26 on an unchanged 10x FY14E EV/EBITDA and maintain our SELL call. We expect FY14E earnings growth of 38% YoY only because we expect the VIP hold rate to normalise to the theoretical average of 2.85% and not due so much to gaming volume growth. GENS concedes that it is cautious on VIP volume in view of tightening liquidity in China and expects mass market gaming revenue to be flattish due to the depreciation of ASEAN currencies vs the SGD.

Source: Maybank Kim Eng Research

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spore1
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21-Feb-2014 11:43

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when analyst downgrade to sell a lot of retailer got panic and started to sell. I think is good chance to consider as it is better to accumulate during bad time!

yummygd ( Date: 21-Feb-2014 09:12) Posted:

Agree. Knee jerk n shorters at work.

spore1 ( Date: 21-Feb-2014 09:05) Posted:

the selling is overdone.

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enjoylife77
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21-Feb-2014 11:35

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Don't expect anything more than 1 cent dividend. I think this year AGM will see even less attendees numbers has been shrinking since price tumble down from $2.35. Many long term investor.

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eurekaw
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21-Feb-2014 11:30

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jj7007 ( Date: 20-Feb-2014 16:17) Posted:

having a bad feeling on this one

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eurekaw
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21-Feb-2014 11:21

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Dun know how many ppl got trapped by buying Genting the last few days..indeed a gambling stock ..

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guoyanyunyan
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21-Feb-2014 09:48

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Downgrade to SELL due to concerns over domestic operations.

(GENS SP/SELL/S$1.40/Target: S$1.27)

FY14F PE (x): 24.4

FY15F PE (x): 26.7

Adjusted EBITDA was below expectations. Genting Singapore (GENS) reported 4Q13 revenue of S$692.9m (-11% qoq, -13%yoy) and EBITDA of S$250.3m (-28% qoq, -32% yoy). This brings 2013 EBITDA to S$1,158.2m, accounting for 93% of our full-year forecast, and 91% of consensus forecast.

Downgrade to SELL with SOTP-based target price of S$1.27 as investor enthusiasm for Japan could have moderated with the latest guidance on timeline, and the lacklustre domestic operations. On top of 12x 2014F EBITDA, we have incorporated a 10 sen ?Japan option value? into our target price, based on 30% success rate. Due to our long-dated view on Japan, we suggest investors to capitalise on any share price strength stemming from the liberalisation newsflow.

UOB Kayhian

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Octavia
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21-Feb-2014 09:25

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Maybank KE: Maintains Sell with TP slightly shaved to $1.26, from $1.31 CS: Maintains O/PF with TP cut to $1.70 from $1.75 Deutsche: Maintains Buy with TP $1.53

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Octavia
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21-Feb-2014 09:24

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4Q13 results missed on lower win rates and more prudent than usual impairment, which otherwise would have been in-line with the street. Net profit inched higher by 5% y/y (-12% q/q) to $170m, while revenue fell 13% y/y (-10.8% q/q) to 692.9m. Gaming revenue fell 19% y/y to $508.6m despite higher volumes in premium gaming business, due to lower win rates. Mass market share declined to 41% from 47% from a year ago Non-gaming revenue was 12% y/y higher at $183.9m on increased visitation, with average daily visitors exceeding 20,000, while hotels achieved occupancy rate of 92% with RevPAR of $411.

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yummygd
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21-Feb-2014 09:23

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Earning really so bad meh? Its not spectacular but not such tanking what. Anyways go zzzz lol

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Shirleyfong88888
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21-Feb-2014 09:19

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Sudden dipped so much! Lol:(

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yummygd
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21-Feb-2014 09:12

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Agree. Knee jerk n shorters at work.

spore1 ( Date: 21-Feb-2014 09:05) Posted:

the selling is overdone.

spore1 ( Date: 20-Feb-2014 19:47) Posted:

at least this qtr net Profit is slightly better than previous year qtr + over net profit 4% high than last year. consider quite good already. Hopefully tmr may rise up higher to clear 1.435

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matrixxx
Senior

21-Feb-2014 09:10

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I was totally wrong about Genting

matrixxx ( Date: 16-Feb-2014 00:49) Posted:

Ever wondering why Genting SP's stock price is not going up? Instead she falls?

Maybe here's why:

Genting subscribe for 47.85-million offering shares for Linc Energy at $1.20.

On 20-Jan 2014, Genting raise it's stake In Linc from 11.02% to 12.02% now hold 69,377,000 (plus 9.13% options 47,350,000) http://lincenergy.listedcompany.com/newsroom/20140121_171917_TI6_5E2E8F97C51479AE48257C67002D0B65.1.pdf

Since then, Linc Energy stock price had dropped from 1.525 (20-Jan-2014) to 1.225 (4-Feb-2014).

Last done price for Linc Energy on 14-Feb-2014 is 1.26. And it seems that the counter is not that strong for uptrend mode anymore, as she has been hovering at that price since 3-Feb-2014. In other words, if she is not that strong to go up, likely she will be strong to go down.

The final countdown: On 14 Feb-2014 (after 5pm) Linc Energy reported a loss earnings of AUD$104 million the last 6 mths as compared to last year of loss of AUD$38 million

Questions to ponder:

a. Is this a really good investment for Genting?

b. What moves will Genting take? In case Linc Energy's price fall

c. Will Linc Energy be the same like the panic Kris Energy?

d. Do one really think that to list in SGX will help the co. to achieve growth than to be remain listed in ASX?

More truths about Linc Energy

Why Linc Energy is being crushed
By Mike King - October 8, 2013

Linc Energy (ASX: LNC) has seen its shares slammed down more than 30% over the past five business days, after the company announced that it was proposing to delist from the ASX and list on the Singapore Exchange (SGX).

It seems investors aren?t keen on the move by the company and owning shares in a company listed on a foreign exchange. Linc says it believes a listing on the SGX will help to unlock the value of the company?s conventional and unconventional oil, gas and coal assets and its underground coal gasification (UCG) technology. The company says it wants to broaden its investor base and improve access to international oil, gas and energy investors, as well as improve access to capital markets.

But there could be other reasons contributing to Linc?s shares getting smashed, including an announcement that it is considering offering shares to new investors. That move is likely to dilute existing Australian shareholders, devaluing their shares and pushing the share price down.

Despite investing around $200 million to develop UCG and gas to liquids (GTL) technologies, the company has yet to establish a commercially profitable operation, and generates little in the way of revenues for the company.

But perhaps the biggest reason for the company?s low share price is that very few investors understand the company?s strategy and despite all the hype around UCG and GTL technologies, Linc has yet to post a profit, while raising large amounts of capital from shareholders and debt from its lenders.

As an example of a confusing strategy, Linc has built a portfolio of coal assets around the world, and recently announcing that Linc was going to purchase Rio Tinto?s (ASX: RIO) Blair Athol coal mine. But Linc and Mr Bond have repeatedly said the company wants to offload its coal assets, and was not a buyer.

Interestingly, Rio estimates that Blair Athol has around 10 million tonnes of coal remaining. Linc subsidiary New Emerald Coal wants to produce up to 3 million tonnes of coal a year, suggesting the mine has a life of just over 3 years ? not much, and there is also the question of who will bear the rehabilitation costs of the mine once it does close. Rio currently has a $64 million bond lodged with the Queensland government to cover the rehabilitation, which is estimated to take around 5 years.

Cynics might also suggest the company has no focus and is too complicated, with diverse operations in the US, Poland, Uzbekistan, Australia, the UK and South Africa, with plenty of potential but many as yet unprofitable. Until Linc can generate a profit or positive operating cash flows, there will always be a question mark over the company?s assets, and maybe that should be the priority of the company, rather than moving to a different exchange.

Foolish takeaway

There are plenty of other companies listed on the ASX for Foolish investors looking for exposure to oil, gas or coal, including the likes of Woodside Petroleum (ASX: WPL) and BHP Billiton (ASX: BHP). Both companies offer a much better chance of sustained profits than Linc.

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jj7007
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21-Feb-2014 09:05

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If 130 break then 122.

Don't think about bottom fishing or contra. Watch

Quick short and cover. breakfast time

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spore1
Supreme

21-Feb-2014 09:05

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the selling is overdone.

spore1 ( Date: 20-Feb-2014 19:47) Posted:

at least this qtr net Profit is slightly better than previous year qtr + over net profit 4% high than last year. consider quite good already. Hopefully tmr may rise up higher to clear 1.435

spore1 ( Date: 12-Feb-2014 08:40) Posted:

Genting is looking good to cont this uptrend mode

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yummygd
Supreme

21-Feb-2014 08:48

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Preopen dont look good

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yummygd
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21-Feb-2014 08:01

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Showed that Sing gaming sector has peaked n going into Korea is a wise move. Hopefully Japan relax its law soon .

enjoylife77 ( Date: 21-Feb-2014 02:08) Posted:

Current results include the property sold in UK in which Genting hold a 1/3 share.

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enjoylife77
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21-Feb-2014 02:08

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Current results include the property sold in UK in which Genting hold a 1/3 share.

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