Genting Sing    Last:0.615   -

Genting Singapore: Big Money In Japan

Fair price at 88 cents 👍 👍 👍

Goldfinger      ( Date: 11-Mar-2018 12:42) Posted: I smell something up in the air with GENS. Time could be coming soon. The BBs like to whack down to accumulate at the expense of poor Sinkie retail.

 

When it been whack down hard   ,Generally   it&rsquo s time for Bb to accumulate ... retailers all been whacked ... but if BB is just very short term investor , with borrowing $$   then prepare for another suprised slides due to Financial currency meltdown... When the world is doing something good to restore the market sentiment ... btw this year another interest rate increase .. comfirm Liao 

 

I smell something up in the air with GENS. Time could be coming soon. The BBs like to whack down to accumulate at the expense of poor Sinkie retail.

 

If the trade war really gets bad and Japan gets hurt by the US - the US casino companies can kiss their chances good bye. That way, it clears the path for GENS to win big - maybe even Tokyo.

 

Japan is a looong shot

 

Soon to break the tight range. Buy !!!!

Sgvale      ( Date: 09-Mar-2018 10:53) Posted: 1.09 bottom out. Tgt $1.28. Buy !!!!

 

Flipping 1.10-1.12 whole day. Break 1.18, cfm uptrend.

 

1.09 bottom out. Tgt $1.28. Buy !!!!

 

Genting Sp break up soon due to the SSHs accumulating.......

 

Genting Singapore   |   PDF

Jeju Island integrated resort not at risk

GENS SP / GENS.SI | ADD - Maintained | S$1.33 /TP S$1.72 Mkt.Cap:US$13,000.00m | Avg.Daily Vol:US$16.04m | Free Float:45.00% Gaming | Author(s): Lucius Jesudason CHONG +60 (3) 2261 9070 begin_of_the_skype_highlighting  +60 (3) 2261 9070  FREE    end_of_the_skype_highlighting,

▊ We retract our view that the Jeju Island project is at risk and now expect that the US$2.2bn integrated resort JV will go ahead as planned. The underperformance of GENS&rsquo s share price since the announcement of the JV shows that the market has low expectations for the deal and any positive newsflow would be a strong re-rating catalyst for the stock. The recovery of earnings growth at Resorts World Sentosa would be another catalyst for GENS&rsquo s share price, in addition to the opportunities from Japan&rsquo s liberalisation. There are no changes to our FY14-16 EPS forecasts and RNAV-based target price. Our Add rating is maintained.

What Happened We were wrong on the designation for the Jeju site earmarked for development. The site is not intended for healthcare and education but for a history theme. This is appropriate for the project&rsquo s Myth and History Theme Park. What We Think GENS&rsquo s share price has underperformed the market by 9% since the announcement of the JV in February. The market has clearly not factored in any value creation from the deal and has probably priced in the worst-case scenario. What You Should Do We believe that GENS&rsquo s current valuation of 11x FY15 EV/EBITDA is attractive. There is potential for earnings growth recovery in the Singapore business, which was evident in the last quarterly results. We remain positive on GENS. The share price is near its 52-week low and offers investors a good buying opportunity.

tianji      ( Date: 16-Jun-2014 09:17) Posted: ▊ Our channel checks show that it could be a challenge to change the designation of the land earmarked for the Jeju JV. We have therefore decided to remove its NPV valuation and cut our RNAV-based target price. Our EPS forecasts are unchanged. We remain optimistic about GENS&rsquo s chances in potential Japanese liberalisation, which is a key catalyst. If the current political situation between Japan and China is protracted, it could give GENS and US companies an advantage. The Genting group will also be the only Asian company with a US$4bn Las Vegas IR and we believe its US and global presence will invariably help its chances in Japan. Maintain Add. What Happened  Following our channel checks, we believe that securing a casino licence or injecting an existing licence into the Landing-GENS JV could be challenging. This is because the 598-acre site that was originally bought by Landing and injected into the JV has been earmarked for healthcare and education investment, according to the Jeju Development Corporation (JDC).  What We Think  We note that construction work on the US$2.2bn JV has already been pushed to July 2014 from the original timeline of June. This happens to coincide with the election of a new governor, which could allow for the redesignation of the land but we believe it could face stiff resistance from NGOs. The worst-case scenario is for GENS to withdraw from the JV and write off the S$194m invested or sit on the land and wait for a breakthrough in licencing. In the JV transaction, GENS has valued the land at US$18 psf, which is near market price and a 29% premium over what Landing originally paid for it inclusive of US$200m in infrastructure costs.  What You Should Do  We have decided to remove the implied S$0.09 NPV per share for the JV from our RNAV-based target price until a clearer picture on land redesignation is evident. Further delays in construction could raise more red flags. We believe the share price has already priced in this setback and we remain positive about GENS&rsquo s valuations. We value the existing Singapore business at S$1.57 per share (12x FY15 EV/EBITDA) and we remain confident on our option value for Japan, which we have estimated at S$0.15 per share based on a conservative assumption of it generating a 15% ROCE.            |           | Previous " Genting Singapore" reports...  6/5/14   Results   Starting 2014 on the front foot   (AD, S$1.31 /TP:1.81) 25/4/14   Coy Flash   MBS VIP luck factor finally turns   (AD, S$1.36 /TP:1.81) 28/3/14   Coy Flash   Moving forward with Jeju   (AD, S$1.32 /TP:1.81)

 

Japan confirmed liao.........

Korea JiJu also confirmed liao........huat lar.......

 

▊ Our channel checks show that it could be a challenge to change the designation of the land earmarked for the Jeju JV. We have therefore decided to remove its NPV valuation and cut our RNAV-based target price. Our EPS forecasts are unchanged. We remain optimistic about GENS&rsquo s chances in potential Japanese liberalisation, which is a key catalyst. If the current political situation between Japan and China is protracted, it could give GENS and US companies an advantage. The Genting group will also be the only Asian company with a US$4bn Las Vegas IR and we believe its US and global presence will invariably help its chances in Japan. Maintain Add.

What Happened 
Following our channel checks, we believe that securing a casino licence or injecting an existing licence into the Landing-GENS JV could be challenging. This is because the 598-acre site that was originally bought by Landing and injected into the JV has been earmarked for healthcare and education investment, according to the Jeju Development Corporation (JDC). 

What We Think 
We note that construction work on the US$2.2bn JV has already been pushed to July 2014 from the original timeline of June. This happens to coincide with the election of a new governor, which could allow for the redesignation of the land but we believe it could face stiff resistance from NGOs. The worst-case scenario is for GENS to withdraw from the JV and write off the S$194m invested or sit on the land and wait for a breakthrough in licencing. In the JV transaction, GENS has valued the land at US$18 psf, which is near market price and a 29% premium over what Landing originally paid for it inclusive of US$200m in infrastructure costs. 

What You Should Do 
We have decided to remove the implied S$0.09 NPV per share for the JV from our RNAV-based target price until a clearer picture on land redesignation is evident. Further delays in construction could raise more red flags. We believe the share price has already priced in this setback and we remain positive about GENS&rsquo s valuations. We value the existing Singapore business at S$1.57 per share (12x FY15 EV/EBITDA) and we remain confident on our option value for Japan, which we have estimated at S$0.15 per share based on a conservative assumption of it generating a 15% ROCE. 
          |
          |
Previous " Genting Singapore" reports... 
6/5/14   Results   Starting 2014 on the front foot   (AD, S$1.31 /TP:1.81)
25/4/14   Coy Flash   MBS VIP luck factor finally turns   (AD, S$1.36 /TP:1.81)
28/3/14   Coy Flash   Moving forward with Jeju   (AD, S$1.32 /TP:1.81)

 

Dropping wor!

 

http://www.youtube.com/watch?v=H9yKqcs699k

WW2 - Japanese Invasion of China | The Second Sino-Japanese War | 1937-45 | World War II Documentary

SO far do  jap tell the actual condition ??????? IS JAPAN safe ???? why take risk  ??? 

 

Tradeable Ideas

Price Call Target Price (S$) Upside / Downside (S$) Source Date Genting Singapore PLC         Last Price: S$1.34 Buy 1.50 0.16 (11.94%) AmResearch 06/06/2014 Buy 1.68 0.34 (25.37%) Hong Leong 30/05/2014 Buy 1.65 0.31 (23.13%) MacQuarie 07/05/2014 Buy 1.43 0.09 (6.72%) OCBC 06/05/2014 Hold 1.24 -0.10 (-7.46%) Maybank Kim Eng 06/05/2014 Buy 1.75 0.41 (30.60%) DBS Vickers 06/05/2014 Buy 1.81 0.47 (35.07%) CIMB 06/05/2014

 

Genting Singapore: Big Money In Japan?
According to reports from Malaysian Newspaper, The Star, Genting Singapore (GENS) will be making a bid for an integrated resort in Japan. The group will be partnering unnamed Japanese institutions to bid for one of three to four (estimated) integrated resort licenses.

The planned integrated resort in Japan will be the second resort under Genting Group that is not fully owned by the group. This strategy makes sense as traditionally, Japanese prefers local businesses to foreign. This could well be more advantageous to GENS.

Should the license be granted to GENS, it will break the group&rsquo s current awkward position in Singapore. Resort World Sentosa (RWS) is increasingly losing its mass-market share to Marina Bay Sands (MBS). In the VIP segment, RWS hit a streak of bad luck as it has a worse than expected hold percentage (win rate).

Despite not having a casino, the gaming industry in Japan is worth US$25 billion in 2005 (based on a report by Bloomberg) purely based on pachinko (comparable to the slot machine).

Therefore, the casino industry is expected to perform well in Japan which is valued by analysts at US$20 to 40 billion depending on the involvement of junkets.

However, all these will not happen if legislation is not passed within an increasingly narrow timeframe. The Casino Promotion Bill failed to be debated and approved by the lower house during May this year.

It will be brought up again on 10 June which is the last chance for the bill to make it to the National Diet (Japan&rsquo s legislature) this year or it will have to be delayed till September for the Extraordinary Diet (slim chance). If both of the above fails, the bill will have to be resubmitted for the next session which is in the next year.

Currently, most of the major casinos have expressed their interest to make a bid for the Japanese integrated resorts. Front runners of the bid include GENS, Galaxy Entertainment, Las Vegas Sands, MGM and Wynn.

Analysts are confident that whether the Casino Promotion Bill will be passed is only a matter of time. In view of GENS&rsquo s future development, analysts from Hong Leong Research are bullish for its long term and gave it a target price of $1.68.