Actually the result doesn't seems to be that bad for me.
The loss mainly from impairment of Star Cruise (700+m) & Stanley UK (200+m). The operation still profitable as always. The cash position still strong but IR Sentosa will be increasingly important for them from the point of growth. And the impairment of Star Cruise might continue for coming quarters but the amount shouldn't be that significant as this time round. And Genting actually trading at a point which is very near to its NAV (RM3.37) and its value might soar one day (after recession ). Cheers shareholders of Genting, this is not the end of the world.

That's what analysts said good about Resorts. Without the impairment, the operation was in fact more profitable for the quarter/year as compared to the previous quarter/year. And good also since they have to pay less taxes.

But what happened to share price.. huge selling and dropped into red. Most people only look at the end/ profit figure.

I'm a first time trader here, when will Genting announce when the dividends will be paid? Will it be 4 sens per share or 7 sens per share? Are Genting dividends paid every quarter or half yearly? And are Genting dividends taxed?

Haha... if I tell you I haven't read any of what they wrote, will you believe me? But serious, I didn't, and that's just my personal opinion, I might be wrong... haha...

Yes, that's the real world, but those who dump their share in panic might loss their very purpose of buying it at the first place - enjoy the long term growth with the company. But I am not trying to influence anyone, I just speak out what I think, and what I think might be wrong, again... haha...

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Added on February 26, 2009, 8:49 pmThe final dividend will be 4 sen (tax 25%, part or all of the tax amount can be claim back if your tax bracket below the highest bracket), and the ex date will be announce later, after they decided on the AGM date (because final dividend need to be vote in AGM), so there will be sometime from now.
7 sen was included with 3 sen interim dividend (already distributed).

This post has been edited by htt: Feb 26 2009, 08:49 PM

All dividends are taxable including Genting.

The result is not that bad, but the headline negative figure is good for us to hunt at lower price.

No offence to any current shareholders.

Resort situation is much simpler which risk is lower compared to Genting. Genting now is more a growth stock that the next crown jewel will be the Singapore casino. Do or die also depends on it. (wording a bit too "hard" already).

Haha... waiting in the line for some panic sellers...

Genting falls after reporting net loss

GENTING, the country’s only casino operator, fell 1.1 per cent to RM3.50 after it reported a RM120.8 million (US$32.90 million) net loss in the fourth-quarter, hit by an impairment loss at its cruise business.

It earned RM514.44 million in the year-ago period.

“Although its more resilient domestic casino operations will provide some form of earnings stability, we think that it is insufficient to offset the earnings shortfall from its overseas casino ventures and lower plantation earnings,” said OSK Research.

“Given the higher earnings downside risk for FY09 and potentially for FY10 when Resorts World at Sentosa opens, we see very few catalysts for the stock to outperform the market,” it said. - Reuters

http://www.btimes.com.my/articles/20090227130051/Article/

This post has been edited by lowyat888: Feb 27 2009, 01:40 PM

Genting reached low at RM3.48 today.. its lowest ever.

why the selling of star cruise is accounted as losses? when you sell, u gain the money right?

Since when selling must gain money/profit?

Impairment loss doesn't mean they are selling either. Impairment loss means the value of their holding become or actually less than its origin pay for it.

Aiya, that's accounting standard issue. I think that's honorable to perform the impairment test and impair the asset accordingly. If they want to play foul, they should keep 20% stake and avoid the impairment test. The impairment is not an issue for me, I concern more about their operation & future.

Very low now. Maybe can buy more next week.

Hi All,

Seldom been to here, Resort and Genting. Die or Survive i depend on you. Kepala 80% basah already. Come la.. i dont scare you.

What are you trying to say ?

If Genting and resort is still dropping, I will still average down. This is already my third time average. They all know it what price im holding genting and resort. ?
Quite big the sum for me. i mean me... not the retailer.


Now that i dont know the end of the story of these two company. Die or Survive depend of these two company. If they die .... i shall be. If they survive..........I will be.





God Bless.

I see. I feel sad for you. You must be dumping everything in both counters!

you said like all your money in these 2 shares.i am still waiting genting price to go down hehe then sapu as much as i can

You're hurting him!

i know all our members here hurt. i also bought at higher price but we have to take this chance right.not always have