Genting eyes earnings recovery
Published: 2009/11/25

MALAYSIAN gaming company Genting Bhd today reported a profit in the third quarter as more people visited its casinos and flagged a satisfactory performance for the full year.

“Whilst the global economy continues to show signs of recovery, the group remains cautiously optimistic of its prospects,” Genting said in its results statement.

Genting, valued at US$7.8 billion, posted July-September net profit of RM371 million against a loss of RM40 million a year ago.

Analysts do not provide quarterly earnings forecast for Malaysian companies, but Genting’s third-quarter net profit accounted for 38 per cent of analysts forecasts of RM967 million
for the full year.



The group’s unit Genting Singapore is building Resorts World Sentosa (RWS), the city state’s second integrated resort, and it is also the largest casino operator in the United Kingdom.

The casino in Singapore, seen as one of the group’s key earnings drivers in the future, is on track for a January opening.

“We presume that Genting Singapore will command 45 per cent share of the S$4 billion gaming market,” Andrew Lee, head of research at Maybank Investment Bank said in a recent note.

Genting, Southeast Asia’s largest gaming company, also has substantial interests in oil palm plantations, power generation and property development which it deems as non-core businesses for sale at the right price.

Out of 22 analysts tracked by Thomson Reuters I/B/E/S, 18 had buy or strong buy recommendations on Genting, with only two rating it a sell or underperform.

Genting shares have nearly doubled this year, outperforming the 45 per cent rise in the broader market index. - Reuters

erm...u can't buy sin stocks coz of religion? hehe....coz already make losses in scomi....darn...now just play dividend stocks...buy to keep ...better than in FD ....

we thought you'd gone to bed and weren't listening......

Wah....how many times you want Sapcres to declare div? Anyway, if got div, better
Sapcres is #1 ONG at the moment right?

Pana mui mui, at least Maybulk still in green... Hopefully the next quarter it can maintain the current performance or better..... Dividend can declare half like Uchitec pun OK.....

the ones i hold that are pretty disappointing is only zelan the others seem to be ok.....but if u were to scroll through the market announcement for today...can see a lot of shares profit decrease,decrease,decrease only a few had increases

Genting Will Soar tomorrow.

...but most stocks reporting better earnings still drop.......

Ahhh...dont curse the market tomorrow! still have genm in my portfolio

At least OSK quarterly improve, though Y-O-Y still lower.

How's your futures trading?

And CI will rise!

It is trend now.... loss companies share price soars and profit companies falls. But it will go back to fundamental after a while....

Drop but not crash....still ok la. At least still above my buying price

...and still drop.......

I hope so. I'm nearly drowned by my futures

Aiyor, Zelan in red again... but it will be gorenged....

You mean the share price?

Absolutely right - the fundamentals will drive the price in the end. That's why I give this thread the title.......

You cut loss already? Or you are still holding 1280?

I wonder if Zelan price impacted by poor result from IJM since they own quite a slice of it......