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ACQUISITION OF SHARES IN GOLDNATURE INVESTMENTS LIMITED
The Board of Directors of Genting Singapore PLC (“
Northspring Global Ltd, a wholly owned subsidiary of the Company, has entered into a sale
and purchase agreement for the acquisition (the “
paid up share capital of Goldnature Investments Limited for a consideration of US$60 million
(“
Goldnature Investments Limited is a company incorporated in the British Virgin Islands
(“
share capital of Montbella Limited. Montbella Limited is a company incorporated in the BVI
and has portfolio interests in natural resource ventures. Upon completion of the Acquisition,
Goldnature Investments Limited and Montbella Limited will be subsidiaries of the Company.
Based on the unaudited management accounts of Goldnature Investments Limited,
Goldnature Investments Limited has a net asset value of US$16 million. The Consideration
was arrived at on an arm's length and willing-buyer-willing-seller basis. The Consideration
will be paid in cash upon the completion of the Acquisition.
The Acquisition is not expected to have any material impact on the consolidated net tangible
assets and earnings per share of the Company for the financial year ending 31 December
2011.
None of the Directors or substantial shareholders of the Company has any interest, direct or
indirect, in the Acquisition other than through their respective shareholdings in the Company.
For and on behalf of the Board
Company”) wishes to announce thatAcquisition”) of 68.63% of the issued andConsideration”).BVI”), and is an investment holding company with a 51% interest in the issued and paid upGenting Singapore PLC
Tan Hee Teck
Director / President and Chief Operating Officer
17 May 2011
Some people tend to listen to analyst just bcos they look analyst as an 'expert'. I do not have in-depth knowledge about GenSp, and do not know how to do the technical analysis about the company.
I used to work for a company listed in NYSE and I'm the buddy of the Finance head. We always laught at the expects' remarks about the company and we were wondering who runs the company...the analysts or company management team?
Just to share my experience here......good luck guys.
DesertEyes ( Date: 16-May-2011 15:10) Posted:
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DesertEyes ( Date: 16-May-2011 15:10) Posted:
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Genting Universal Studios Singapore will hold its Grand Opening Celebrations on 28 May 2011, a day when celebrities and guests come together to celebrate Southeast Asia’s Number One theme park.
http://www.rwsentosa.com/language/en-US/Attractions/UniversalStudiosSingapore/GrandOpening
Genting Madagascar: A Crate Adventure™ (Opening 16th May 2011)
four heroes - Alex, Marty, Melman and Gloria - on a river boat adventure as you arrive at the shores of Madagascar. Defeat the foosas at the rim of the bubbly volcano cauldron with the aid of the technically-savvy but psychotic penguins.
DesertEyes ( Date: 16-May-2011 15:10) Posted:
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80% of the investor listen to these 20% as what they said:-
Citigroup downgrades from Buy and cuts its target price to S$2.30 from S$2.40. The house says reported 1Q net revenue of S$923 million and EBITDA of S$530 million exceeded its estimates. Expects to see pressure on Genting's shares in the near term. " That said, we still view GENS as a high-quality cash-flow generator."
Why the 20% people have to listen to thoes comment??'
Such iresponsible and contratic comments came out from Citigroup??? it means that -
1) Citigroup estimates wrongly on Centing's 1Q results is because Genting shouldn't do so well, if not they will get their estimates correctly.
2) Because of Citigroup estimates wrongly estimates wrongly you guys should sell and bring back the price.
3) Genting do so well is because the lady luck is no it's side. hello i thought Genting is in gambling business so what Citigroup said is Genting should loss money in its business.
4) They don't know next quarter whether the lady luck will be also on Genting side or not so you better sell off now so that Citigroup will get their estimates correctly for next quarter.
5) It is a hig-quality cash-flow generator company and such company shouldn't belongs to you guys and you should sell off for me to buy and keep.
have I miss out anythings that I read from citygroup's comments???
Isolator ( Date: 16-May-2011 14:15) Posted:
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lowchia ( Date: 15-May-2011 20:21) Posted:
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On Friday, Genting SP re-test the support at $2.08 and closed at $2.10 with HIGH volume of 0.277 billion shares traded.
A big black candle occurred. This is bearish, as prices closed significantly lower than they opened.
During the past 10 bars, there have been 3 white candles and 5 black candles for a net of 2 black candles. During the past 50 bars, there have been 26 white candles and 13 black candles for a net of 13 white candles.
RSI & MACD are bearish as RSI trend downwards.
Immediate Resistance of Genting SP: $2.15
Immediate Support of Genting: $2.08
Currently prices are supported by 50/100 days MA at $2.08
There are huge................ READ MORE
samson ( Date: 13-May-2011 23:13) Posted:
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AmFraser
RWS – Record earnings in first quarter ROBUST VIP rolling revenues and a high VIP win rate helped Resorts World Sentosa (RWS) set new earnings records in the first quarter, mainboard-listed Genting Singapore announced yesterday. For the first quarter ended March 31, the casino raked in a whopping S$537.9 million in Ebitda, a profitability measure meaning earnings before interest, taxes, depreciation and amortisation, up from S$389.8 million in the preceding quarter. Its Ebitda margin was 59 per cent, up from 50 per cent in the fourth quarter. 'We continue to see strong VIP play, brought about by strong overseas visitations,' said Genting Singapore spokeswoman Lee Sin Yee. Aaron Fischer, head of consumer & gaming research with CLSA Asia Pacific Markets, said Genting's first-quarter VIP rolling revenue was 'exceptionally strong', with 19 per cent growth compared to the previous quarter. Casino VIP rolling revenue now accounts for 62 per cent of gross gaming revenue. 'This is really surprising as no junkets are licensed. Although generally, we had expected VIP (rolling revenue) to be dominant as Las Vegas Sands management (in its Q1 earnings call last week) has said RWS was doing much better in this category than them,' Mr Fischer said.
http://www.remisiers.org/cms_images/research/May09-May13/110513_-_AmFraser_Morning_Buzz_Singtel_OCBC_SGXRWS.pdf
Genting Singapore Plc - 1Q11 results - Dealing the good luck cards
1Q11 core net profit, at 29% of our full-year forecast and 26% of consensus, is above
expectations. The main discrepancy was stronger-than-expected gaming revenue
from the VIP segment, which significantly bumped up EBITDA margins. Although
1Q11 VIP revenue was driven by above-theoretical win rates, we were previously too
conservative in our topline estimates. Factoring in higher revenue assumptions, we
raise our FY11-13 earnings estimates by 8-26%. Our earnings upgrade nudges up our
end-CY11 SOP-based target price from S$2.70 to S$2.79,
with an unchanged CY12 EV/EBITDA of 16x for its gaming operations. We see re-rating catalysts from: 1)sustained market leadership
2) increased patronage from the opening of amenities
and 3) the licensing of junkets, which should further boost VIP volume and margins.
http://www.remisiers.org/cms_images/research/May09-May13/SIN-Daybreak-_130511CIMB.pdf
OCBC Research
Genting Singapore: Maintain BUY with S$2.53 fair value
Good start to 2011.
Revenue for 1Q11 saw a 166.3% YoY (+17.0% QoQ) increase to S$922.6m
the gaming portion came in at S$804.4m, or 87.2% of overall revenue,
buoyed by good win percentage and gaming volume non-gaming contributed
around S$109.2m, or 11.8% of total, aided by steady growth in Universal
Studio Singapore (USS) and the hotels. Net profit surged 312.6% YoY
(also up 233.3% QoQ) to S$305.4m. According to management, the IR
(integrated resort) delivered its highest quarterly adjusted EBITDA of
S$537.9m, with margin of 59%.
Genting Singapore (GS) made a good start to 2011.Robust operating statistics.
operates some 589 tables, with 30% set aside for VIP. It also has about
2000 slot machines, with 360 being ETG (electronic table gaming) machines.
GS adds that it has about 10% of available gaming space left for expansion.
GS has also achieved a superior hold rate of 3.8% for its VIP segment,
recovering very nicely from the first quarter when the hold was at the lower
end of the theoretical 2.8-3.0% range. For the non-casino business, RWS
saw significant contribution from USS and the hotels. According to
management, USS received an average of 7.4k daily visitors in 1Q11, though
down slightly from the 8.3k in 4Q10 (school holiday period), but average
spend was higher at S$88 each versus S$85 in the previous quarter. On
the hotel side, occupancy rate has maintained at 79%, unchanged from
the previous quarter, although the average room rate dipped to S$280 from
S$294.
For its gaming business, GS revealed that itOutlook remains fairly upbeat
continue to do well in the Year of the Rabbit, with strong visitorship in both
VIP and mass segments it also reveals that it will continue to focus on the
overseas premium segment and will not pursue the local mass market.
RWS (Resorts World Sentosa) will steadily add attractions such as the
Maritime Xperiential Museum, Marine Life Park and destination spa by
2012 to reinforce its standing as the IR of choice to all visitors to Asia
although it notes that the completion of the second phase may experience
a slight delay of several months, and has allocated additional resources to
address the issue.
. Going forward, GS believes that it willMaintain BUY.
full-year revenue and core earnings estimates respectively, we do not see
the need to make any adjustments at this stage. As such, our DCF-based
fair value also remains at $2.53. Maintain
http://www.remisiers.org/cms_images/research/May09-May13/Market_Pulse-110513-OIR.pdf
more lau sai days to come.