The USD carry trade phenomenon is at play again. World markets will probably trend downwards. I tried to buy at SGD1.19 this morning but my broker did not call me to inform whether the trade was successful. I presume I did not get it. Maybe I will try again on Monday.

In my opinion, Genting S'pore's profit would not be fantastic n you have to be prepared to stay invested for a long time.

---

Added on January 22, 2010, 11:43 pm

SINGAPORE, Jan 22 - The benchmark Straits Times Index <.FTSTI> was 1.65 percent lower as of 0320 GMT on Friday.

The following stocks were on the move:

** GENTING DOWN ON CITIGROUP REPORT

Shares of Genting Singapore <GENS.SI> declined as much as 4.1 percent to S$1.18 after Citigroup initiated coverage of the stock with a "sell" rating and a target price of S$0.80.

"We believe that expectations for Singapore's Integrated Resorts have become irrationally bullish," Citigroup analysts said in a report, citing overly agressive consensus profit forecasts of Genting's upcoming casino operations in the city-state.

"If consensus estimates are to be believed then Resorts World Sentosa would be the most profitable casino in the world in its first full year of operation , a proposition that truly stretches the imagination," the report added.

Genting Singapore is a unit of Malaysia's Genting Group, Asia's largest publicly traded casino operator, and opened four hotels of its $4.4 billion casino-resort on Wednesday.

"If you look at the fundamentals, there is no value in Genting now," a local broker said.

"It depends on the opening of the casino. If they can get it open in time for Chinese New year and there are massive volumes of visitors, then we can still see trading spikes for Genting."

Around 0320 GMT, Genting was down 2.4 percent at S$1.20 and was the top traded share by volume on the exchange with over 105 million shares changing hands.


This post has been edited by Oracles99: Jan 22 2010, 11:43 PM

Genting S'pore is the most expensive casino stock in the world. Investment banks merely projected a rosy picture to make the rights issue a success.

Its huge borrowings will eat up all its prospective profits. It is likely to breakeven or make a small loss n no dividend is expected for a long time. Maybe, it won't be long it will call another rights issue to pare down its debt.
This said, this stock has speculative flavour. Everybody now is waiting to buy low and dump the stock if it shoot up.

The last time when a foreign company acquire a stake in Bernas, the politicians in Malaysia make a big issue out of it. Now, the Malaysian government entity is set to control another country's healthcare company. I wonder if these same politicians have the brains in their backside.

To: wlcling. I can see that you are experienced and well versed in S'pore stocks. Where can I see the prices of all S'pore stocks?
I went to SCX.com but it seems to show the top 20 stocks only.