Genting Sing    Last:0.735    +0.005

outlook

We Singaporeans need more entertainment stuffs....its so boring living here...

 

Hi,

After staying and living here for the last 40 yrs, this place is all but foods paradise. Yesterday news announce the Eight Wonders new idea of famous Chef and their food ideas, today Genting felt the threat, the share re-tract, now 0.375 and some immediately take profit.



Yeh, food is the key thing, so as the robots, I think a lot of Singaporeans will still prefer food, but it is only convenience seek to add a food paradise to a project of 5B. No big deal lah !Here everywhere also can eat, but if the key thing is Casino, do you think the gambler will look at food, is for their family who tag along while the adults is gambling ! So do not panic over the Wonder idea and start to take profit at this counter. Genting still got its potential. Good Luck

 

So maybe we don't need fish or robots or casino!

 

Hi,

More over in Sentosa, already have an unprofit Underwater world ! The robots also need to maintain one, if not near the sea, it will rusty one !

 

Genting should have tried to be more enviromentally friendly, instead of taking 700K+ sea creatures.

 

For the first sight, Kerzner proposal it look so crappie...
but if you take a closer look and you will be convince that the idea is much "original" & "cool" then Genting proposal. I'm saying so even tho I'm vested in Genting, cuz it appears to be the more appealing tourist attraction land-mark to me.
Just wonder as a general impression, would Singaporean like to see a more futuristic land-mark or the HK's popular Ocean Park alike along the Sentosa sight?

 

Gent should have stand up in term of tourism appeal.

 

It will build an oceanarium, a water theme park and a maritime museum as part of its $5b development plan for the Sentosa IR site.



These attractions will go alongside the building of a Universal Studios theme park and six hotels at the project to be called "Resorts World at Sentosa." if the consortium wins the bidding for the project, it said.



On top of the $5b investment, Genting said it is committed to spend over $200m per year to continually enhance the attractions at Sentosa.



This would be similar to HK's popular Ocean Park.

 

Genting Bhd, which said it would spend US$3.1b on Sentosa IR, has secured pledges covering half the amount from five banks, sources said.



Barclays Capital, Citigroup, DBS Bank, HSBC and Royal Bank of Scotland have provided a commitment letter for a US$1.5b one-year bridging facility to fund Genting if it is chosen to build and operate the casino, Basis Point reported.



The same five banks also provided a 368m sterling financing for Genting's recent acquisition of U.K. gaming firm Stanley Leisure.

 

Will the death of Kerzner CEO's put Gent Int into the advantage edge?

 

SINGAPORE (XFN-ASIA) - Genting International Ltd was higher in midafternoon trade as its group continues to be the market's strongest bet to win the second license to develop an integrated resort here, dealers said.

     Genting International was up 0.010 sgd or 2.67 pct at 0.385 on volume of 18.98 mln shares.

     Genting International/Star Cruises, CapitaLand-Kerzner and Eighth Wonder have submitted their respective proposals to the government on October 10.

     Eighth Wonder revealed its investment commitment of 3.5 bln usd while CapitaLand-Kerzner did not make public the financial details of its bid.

     CIMB-GK said the consortium of Genting International, Star Cruises and Universal continues to be its favorite among the three contenders for the Sentosa resort.

     "The latest developments do not change our opinion that the GIL/SCL consortium remains the front-runner to win the Sentosa IR on the back of its impressive Universal Studios theme park, gaming expertise and substantial investment of 3.1 bln usd," CIMB-GK Steven Tan said in a note.

     He said that CIMB-GK's target price of 0.45 sgd for Genting International assumes a 75 pct chance that it will bag the Sentosa resort deal.

     "Winning the Sentosa bid would boost our target price to 0.51 sgd, while failure would peg GIL's valuation at 0.26 sgd," Tan said.

 

    Looks like there is a lot of profit taking from those who came in earlier.

 

welcome to the club!!!
sometime "BIG" sometime "SMALL"
depend where the wind blow =)

 

SINGAPORE (XFN-ASIA) - DBS Vickers Securities says it has downgraded its rating for Genting International to "hold" from "buy" because the stock appears fully valued after it gained 28 pct recently.

     "We nevertheless recognize the company's good long-term prospects, riding on the ongoing regional liberalization of casino operations, as well as competent management," DBS Vickers said in a note to clients.

     The brokerage believes Genting has a 60 pct chance of winning the bidding to build a casino resort on Sentosa Island here.

     "We believe that Genting International [and its partner] Star Cruises will be favorite to win, relying on its Universal Studios trump card," DBS Vickers said.

     "The market will likely bet on Genting International clinching the [casino resort license], in which case our target price rises to around 0.38 sgd," it said.

     At 2.18 pm, Genting was down 0.005 sgd or 1.3 pct at 0.38, with 14.4 mln shares traded.

 

Where got confusing, is like go into the casino "Big" "Small" table. Just place your bet and wait for it to open. Either win or otherwise only. This is call gambling and not investment !

Think carefully, after buying up London's casino business and still going to Sentosa IR, is this really a short term investment. Obviously, it is a long term one, so just wait and see lah.



At 0.33 - 0.35, don't invest, now then want to come in and place a "stink leg" (hokkien), you all must be crazy ! Not offending anyone, just be careful lah ! Invest in stock and not gamble in stock, it is different !

 

DBS just downgraded it Hold. Pretty confusing huh ? Welcome to the stock market...

 

11 October 2006
Genting International (GIL SP / GENS.SI, OUTPERFORM - Maintained - S$0.385,
Target: S$0.45)
Quick takes - Sentosa showdown
by Steven Tan

Three impressive submissions were made at the close of the Sentosa RFP
yesterday. We believe that GIL/SCL's US$3.1bn bid remains the favourite
with a strong Universal Studios element. But Eighth Wonder provided the
biggest surprise by roping in Melco PBL as an equity partner in a huge
US$3.5bn bid. Kerzner/CapitaLand kept their usual sidelines stance. GIL/SCL
and Kerzner/CapitaLand are still the front runners but Eighth Wonder is now
more of a contender than dark horse. No change to GIL's forecasts or
RNAV-based target price of S$0.45, assuming 75% probability of success.
Winning the bid raises our target to S$0.51, while failure pegs GIL's base
valuation at S$0.26. OUTPERFORM

Here's the Full Report [ Click here ]

or the link below

http://www.gohdirect.com/NASApp/spaf/econtent/sg/Genting-Intl-QT-111006.pdf

 

US-based Eighth Wonder said that its consortium will spend US$3.5b to develop the Sentosa integrated casino/resort site if they win the project. The investment cost includes the the $605m price tag for the land to be paid to the Singapore government.



It said that The Isle of Capri Casinos, Inc will be an equity partner in the project.



Eighth Wonder has also brought in Melco PBL Entertainment, a joint venture between Australia's Publishing and Broadcasting Ltd (PBL) and Hong Kong's Melco International Development Ltd, as partners in its bid to develop the resort.



Eighth Wonder will have a 61.7% stake in the consortium, with Melco PBL holding 24.5% and Capri Casinos 13.8%.



Officials declined to say what else they intend to put up at the site besides the hotel and casino components.

 

Just wondering when they will reveal their design concepts...after all investment is only 20% of the overall grading.

 

Australia's Publishing and Broadcasting Ltd (PBL), already a major player in the gaming industry, has joined forces with Las Vegas firm Eighth Wonder to bid for Sentosa IR.



Eighth Wonder chairman Mark Advent confirmed the deal with PBL and Hong Kong's Melco International Development Ltd, when he arrived to make his pitch for the licence. 



"Yes, he is" an equity partner, said Advent who was accompanied by James Packer, chairman of the Australian media and gaming group.



Packer's PBL and Hong Kong's Melco, who work together in the Chinese gambling enclave of Macau, had expressed an interest in the first casino licence at the waterfront Marina Bay site but in January withdrew because of the high cost.



"I think they are a world-class operator and certainly have one of the most formidable brands in southeast Asia with the Crown," Advent told reporters, referring to PBL's Crown Casino in Melbourne.



Analysts said PBL's involvement could strengthen the Eighth Wonder bid but based on information already made public, they said Genting still has the edge.



Eighth Wonder is investing more than Genting. Packer's involvement could strengthen the Eighth Wonder bid. Eighth Wonder is a dark horse.