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Last Update: December 18, 2010 02:54 ET
Shayne Heffernan has issued a strong buy on Genting Hong Kong Limited HKG:0678.
Shayne Heffernan has put a price target of $6HKD in 2011 on the stock currently trading at $3.30.
This month the company announced that it has signed an agreement on a seven-year floating rate term loan and revolving credit of US$600 million.
The company said in a statement that the proceeds of the facility will be used to pay down existing indebtedness and for general corporate purposes.
Arrangers, underwriters and bookrunners for this loan include Credit Agricole Corporate and Investment Bank, DnB NOR Bank ASA, HSBC, Maybank Investment Bank Berhad and Oversea-Chinese Banking Corp.
Separately, the company announced earlier this year that it purchased 18 million shares of Union Bank of Colombo Ltd for around RMB 15.44 million to own a 5.92% stake in the target firm, which is engaged in banking businesses in Sri Lanka, sources reported.
Genting Hong Kong Limited, formerly Star Cruises Limited, is an investment holding company principally engaged in the operation of passenger cruise ships in Asia Pacific.
The Company, together with its jointly controlled entities, NCL Corporation Ltd. (NCLC) and its subsidiaries (the NCLC Group), has a combined fleet of 17 ships cruising to over 200 destinations in the world, offering approximately 30,000 lower berths. The Group operates under the principal brand name of Star Cruises while the NCLC Group operates under Norwegian Cruise Line brand.
Star Cruises operates seven ships offering various cruise itineraries and calls destinations primarily in the Asia Pacific region. Norwegian Cruise Line operates 10 cruise ships offering cruises in North and South America, Hawaii, Caribbean, Alaska, Europe, Mediterranean and Bermuda.
The Company’s subsidiaries are principally engaged in the business of cruise and cruise related operations and leisure, entertainment and hospitality activities.
Posted by Shayne Heffernan on Dec 17th, 2010 and filed under BRIC, Emerging Markets, Equities, Latest News, Limelight, Markets, News & Events, Shayne Heffernan. You can follow any responses to this entry through the RSS 2.0. You can leave a response by filling following comment form or trackback to this entry from your site
Strong Buy on Genting Hong Kong Limited 0678
Shayne Heffernan has issued a strong buy on Genting Hong Kong Limited HKG:0678.
Shayne Heffernan has put a price target of $6HKD in 2011 on the stock currently trading at $3.30.
This month the company announced that it has signed an agreement on a seven-year floating rate term loan and revolving credit of US$600 million.
The company said in a statement that the proceeds of the facility will be used to pay down existing indebtedness and for general corporate purposes.
Arrangers, underwriters and bookrunners for this loan include Credit Agricole Corporate and Investment Bank, DnB NOR Bank ASA, HSBC, Maybank Investment Bank Berhad and Oversea-Chinese Banking Corp.
Separately, the company announced earlier this year that it purchased 18 million shares of Union Bank of Colombo Ltd for around RMB 15.44 million to own a 5.92% stake in the target firm, which is engaged in banking businesses in Sri Lanka, sources reported.
Genting Hong Kong Limited, formerly Star Cruises Limited, is an investment holding company principally engaged in the operation of passenger cruise ships in Asia Pacific.
The Company, together with its jointly controlled entities, NCL Corporation Ltd. (NCLC) and its subsidiaries (the NCLC Group), has a combined fleet of 17 ships cruising to over 200 destinations in the world, offering approximately 30,000 lower berths. The Group operates under the principal brand name of Star Cruises while the NCLC Group operates under Norwegian Cruise Line brand.
Star Cruises operates seven ships offering various cruise itineraries and calls destinations primarily in the Asia Pacific region. Norwegian Cruise Line operates 10 cruise ships offering cruises in North and South America, Hawaii, Caribbean, Alaska, Europe, Mediterranean and Bermuda.
The Company’s subsidiaries are principally engaged in the business of cruise and cruise related operations and leisure, entertainment and hospitality activities.
Posted by Shayne Heffernan on Dec 17th, 2010 and filed under BRIC, Emerging Markets, Equities, Latest News, Limelight, Markets, News & Events, Shayne Heffernan. You can follow any responses to this entry through the RSS 2.0. You can leave a response by filling following comment form or trackback to this entry from your site
melgo5 ( Date: 18-Dec-2010 22:11) Posted:
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Old Engine , take so longgg to start!
calvinkwoo3000 ( Date: 17-Dec-2010 15:51) Posted:
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Resorts World Manila: The place to play
by Ting Chiong Ping. Posted on December 13, 2010, Monday
MANILA: Resorts World Genting and Resorts World Sentosa are not unfamiliar to the scores of travellers seeking an exciting adventure of leisure and entertainment within its exclusive integrated resorts.
MARRIOTT HOTEL MANILA: The exterior of Marriott Hotel Manila.
Since its soft opening in August 2009, sister resort Resorts World Manila (RWM) has steadily worked towards its goal of raising the bar of luxury and lifestyle within the Philippines.
RWM vice-president of marketing, Jeffrey Evora said during the recent grand celebration of the opening of RWM; Grand Fiesta Manila 2010, “We base our operations on the five As of tourism, of which the first is access.
“By access, we refer to the close proximity of RWM to the various terminals of NAIA (Ninoy Aquino International Airport) and public transport. In addition, we are also endeavouring to tap into the existing 2.2 billion population of potential visitors within four hours’ flight of Manila by creating various air links.”
“The second A; which stands for accommodation will see four hotels within the integrated resort. The Marriott Hotel Manila has 342 rooms, comprising 323 guest rooms and 19 suites. In the near future, two other hotels, namely the Remington and Hamilton will also be set up to boost accommodation capacity,” Evora explained.
For that matter, the Remington Hotel was aimed at budget travellers and was slated to open in the third quarter of 2011.
Perhaps, the defining hotel of RWM would be Maxims Tower, an all-suite hotel numbering 172 suites in all, with a personal butler attached to each.
Positioning itself as a leisure and entertainment facility, RWM was not short on the various activities that offered visitors a multitude of choices to choose from.
Starting with the many restaurants on offer, gourmands would have a whale of a time choosing between authentic Canto-nese cuisine at Passion, a palatial restaurant that could seat up to 400 people and offered private VIP rooms for guests.
Other attractions included the Newport Performing Arts Theatre, the newest venue for Broadway-style plays and amazing performance seating 1,500. It first opened its doors to the beauty pageant ‘Mutya ng Pilipinas’ and boasted the largest light-emitting diode (LED) wall ever built in the Philippines with the latest in visual and audio technology.
RWM would unveil the country’s largest ever production, KAOS; a performance revolving around a love story starring versatile Filipino actor Gian Magdangal, Canadian Pop Idol finalist Martha Joy in addition to acrobats and stunt motorcyclists amongst others in December.
Furthermore, the Newport Mall would be the new home to luxury retail brands from all over the globe had the distinction of featuring brands that would be available in RWM, namely U-Boat and Old Penang.
Last, but not least, RWM also offered the largest integrated gaming facility within the Philippines with 283 gaming tables and 1,214 slot machines available.
When asked for his comments on the Philippine tourism outlook, Evora had this to say, “We have had great support from the Philippine Department of Tourism and are optimistic of attracting more visitors. The Marriott Hotel Manila has so far notched a 93 per cent occupancy rate on a daily basis.
“I would also like to highlight that RWM’s uniqueness lies in its service qualities through a 4,500-strong workforce which comprises 20 per cent of people who used to work abroad.”
He also divulged that the current make-up of the RWM visitor count comprised of local who contributed 60 per cent to the numbers and 40 per cent of foreigners.
“We would like to achieve a ratio of 60:40 with regards to foreigners making up the majority of RWM patrons in the future. Most of our foreign visitors come from neighbouring regions such as China, Indonesia, Singapore, Korea and Malaysia. We hope that we will soon start seeing Americans tourists coming to the Philippines in greater numbers too,” he enthused.
On the topic of meetings, incentives, conventions and exhibitions (MICE) facilities at RWM, Evora said these were in the plans for the foreseeable future.
“We are also in the process of planning a Kids’ Amusement Oasis within the resort for the enjoyment of children. Some of the ideas put forward have included rock-climbing and mini-golf activities amongst others,” he stated.
In line with the grand opening of RWM, Grand Fiesta Manila 2010 was created to showcase Philippine art, cuisine, music, festivals and world-class entertainment in the country’s premier integrated tourist destination.
Spread over four days, members of the international media and travel agents from all over the world were treated to a spectacle, which included first-hand experience of the different amenities within RWM, in addition to the stunning KAOS production show and a Grand Parade featuring the best of Philippine culture.