Hi,

Well, Since you got the offer. Then i suggest you should go and buy those shares in singapore. The shares is rising rapidly in Singapore exchange. Keep those offers.


Thank You.
Just my 2cent.

HI,

When is the dateline? Do you know that it's listed already in singapore? Ok. what account do u have in malaysia? Deal with them. They are more than willing to help you to open an account in singapore. Do it fast. I heard that there will be a dateline for it.

Do you own the company share in malaysia? How much then?



Thank You.

Hi All,

For your information.



Resorts World: Strong cash pile for expansion


RESORTS World Bhd’s decision to divest part of its shareholding in Star Cruises Limited (SCL) has seen its net cash increase to RM3.16 billion from RM2.82 billion three months ago, which could be the main expansion driver within the Genting Group, in view of the potential liberalisation of the region’s gaming industry, MIMB Investment Bank said.

MIMB Research has maintained a buy call on Resorts World with a target price of RM4.80 on 24 times current year (CY08) price-to-earnings ratio. “We continue to like Resorts World for its clear earnings visibility and strong cash-flow generating ability, as it no longer accounts for SCL’s financial results from 3QFY07 onwards.”

“It is our preferred stock in the gaming stock,” it said in a research note.

It also said that Resorts World’s 1Q financial results were in line with its estimates. Resorts World reported a net profit of RM297.4 million, a 25% year-on-year (y-o-y) increase from RM237.6 million a year earlier.

However, the net income was 14% lower against the RM344.1 million registered in the preceding quarter. The company posted a 8% dip in operating profit in its leisure and hospitality division to RM373.3 million on the back of a 4% contraction in revenue, due to lower business volume as a result of lower visitor arrivals.

“We suspect that the casino operation was mildly hit by the luck factor as operating margin deteriorated to 34% from 36%,” the research house said.

Nevertheless, Resorts World’s y-o-y remained strong as its 1QFY08 leisure and hospitality operating profit expanded by 5% from RM354.2 million, backed by a 3% rise in revenue. “Higher business volume arising from higher visitor arrivals mainly drove this,” it said.

Hi,

What would be the worst for Resorts?

Any mature advise is needed.

Outperform call on Resorts World


KUALA LUMPUR: CIMB Equities Research is maintaining its outperform call on Resorts World Bhd as the share price weakness over recent months has been attributed to external and macro concerns, and its fundamentals remain solid.

The research house said Monday that it was unlikely the Government would increase gaming-related taxes as they did not benefit the Government.

“We also think that worries of a possible operational slowdown in 2H08 are significantly overdone. As such, we are keeping our FY08-10 forecasts and our CY08 price objective of RM4.18, based on a 10% discount to its sum of parts,” it said.

CIMB Research said Resorts remained an excellent proxy for the solid domestic tourism industry while its gaming operations are expected to perform strongly in 2008.

It also said Resorts’s growing cash pile of more than RM4bil gave it the leeway to make regional/global acquisitions at rock bottom prices currently or undertake capital management initiatives -- for instance, increasing dividends.

“When the external concerns will subside is something we would not speculate on. However, we strongly believe that the weakened share price offers an excellent opportunity to accumulate RWB on weakness for meaningful medium- to longer-term upside,” it added.

The research house said Resorts was its top gaming sector pick given the gravity of the share price decline, base valuations and the potential stronger rebound once concerns abate.

It said the main reason for Resorts’ share price weakness was its high foreign shareholding of about 40% as at end-May.

“We understand that the bulk of the selling activity over the past month was attributed to disposals by foreign investors due to macro factors, which are totally detached from Resorts’ core fundamentals,” it said.

CIMB Research said the primary reason for the foreign selldown was the uncertainty in the Malaysian political scene. This instability had given rise to some policy risks, which had rubbed off on the gaming industry given talk of a possible gaming tax hike.

The research house also said the economic environment, coupled with higher political risk, had resulted in some weakness in the ringgit.

“Given its high foreign shareholdings, Resorts’ de-rating can partly be attributed to the currency effect. Once again, this macro factor has no bearing on the company fundamentals and is subject to market forces,” it said.

On the global gaming scene, it said the US gaming industry had undergone a major de-rating since end-07, with share prices tumbling 30-60% year-to-date for major gaming players.

The research house said undoubtedly, this had a chain effect on global gaming stocks and Malaysian gaming companies had not escaped the drop.

It said the global de-rating was centred on weakness in Las Vegas owing to sharply reduced air transport links from the jet fuel effects as well as the effects from the economic slowdown.

The second factor was the exposure of US gaming companies to the highly competitive junket VIP business in Macau, where VIP margins have been significantly clipped over the past six months and where US gaming players were the major losers in the volume game.

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Added on June 30, 2008, 2:45 pmOutperform call on Resorts World


KUALA LUMPUR: CIMB Equities Research is maintaining its outperform call on Resorts World Bhd as the share price weakness over recent months has been attributed to external and macro concerns, and its fundamentals remain solid.

The research house said Monday that it was unlikely the Government would increase gaming-related taxes as they did not benefit the Government.

“We also think that worries of a possible operational slowdown in 2H08 are significantly overdone. As such, we are keeping our FY08-10 forecasts and our CY08 price objective of RM4.18, based on a 10% discount to its sum of parts,” it said.

CIMB Research said Resorts remained an excellent proxy for the solid domestic tourism industry while its gaming operations are expected to perform strongly in 2008.

It also said Resorts’s growing cash pile of more than RM4bil gave it the leeway to make regional/global acquisitions at rock bottom prices currently or undertake capital management initiatives -- for instance, increasing dividends.

“When the external concerns will subside is something we would not speculate on. However, we strongly believe that the weakened share price offers an excellent opportunity to accumulate RWB on weakness for meaningful medium- to longer-term upside,” it added.

The research house said Resorts was its top gaming sector pick given the gravity of the share price decline, base valuations and the potential stronger rebound once concerns abate.

It said the main reason for Resorts’ share price weakness was its high foreign shareholding of about 40% as at end-May.

“We understand that the bulk of the selling activity over the past month was attributed to disposals by foreign investors due to macro factors, which are totally detached from Resorts’ core fundamentals,” it said.

CIMB Research said the primary reason for the foreign selldown was the uncertainty in the Malaysian political scene. This instability had given rise to some policy risks, which had rubbed off on the gaming industry given talk of a possible gaming tax hike.

The research house also said the economic environment, coupled with higher political risk, had resulted in some weakness in the ringgit.

“Given its high foreign shareholdings, Resorts’ de-rating can partly be attributed to the currency effect. Once again, this macro factor has no bearing on the company fundamentals and is subject to market forces,” it said.

On the global gaming scene, it said the US gaming industry had undergone a major de-rating since end-07, with share prices tumbling 30-60% year-to-date for major gaming players.

The research house said undoubtedly, this had a chain effect on global gaming stocks and Malaysian gaming companies had not escaped the drop.

It said the global de-rating was centred on weakness in Las Vegas owing to sharply reduced air transport links from the jet fuel effects as well as the effects from the economic slowdown.

The second factor was the exposure of US gaming companies to the highly competitive junket VIP business in Macau, where VIP margins have been significantly clipped over the past six months and where US gaming players were the major losers in the volume game.




This post has been edited by DJWC: Jun 30 2008, 02:45 PM

Hi All,

I just received my dividend for Resort world in cheque and recently it seem Resorts had gone up slowly more than 30cent. I'm glad for that.

drangony,
Nothing is too late because we never know what's the bottom for klse ?

Just my 2cents.
Thank You.

[COLOR=blue]28-08-2008: Resorts 2Q earnings rise 27% to RM384m [COLOR=blue]




KUALA LUMPUR: Resorts World Bhd’s net profit for the second quarter (2Q) ended June 30, 2008 grew 27% to RM384.3 million from RM305.8 million a year earlier, in tandem with higher revenue from the leisure and hospitality business, gain on disposal of long-term investment and higher interest income.

Earnings per share improved to 6.69 sen from 5.52 sen. The company declared an interim dividend of three sen per share, to be paid on Oct 21.

Resorts said yesterday 2Q revenue rose 20% to RM1.24 billion from RM1.03 billion previously, mainly due to better performance in the leisure and hospitality segment.

For the first six months, its net profit stood at RM681.6 million, up 25% from RM543.5 million in the previous corresponding period.

This was achieved on the back of an 11% increase in revenue to RM2.33 billion from RM2.1 billion.

In addition, the group no longer equity accounts for the results of Star Cruises Ltd since July 31, 2007, hence improving its earnings.

---

Added on August 28, 2008, 9:11 pm
Hi All,

I think it's time to accumulate more as i think Resorts have found it bottom already.

Thank You.

This post has been edited by DJWC: Aug 28 2008, 09:11 PM