Sweat. Just realized this:

U.S. Markets closed for Thanksgiving Day.

But European markets are GREEN.

IOI Corp’s RM73m deposit for Menara Citibank forfeited

Wow! That's a lot of money....

Hmmmm..... looks like IOICORP's share gonna drop tomorrow!!! Have been waiting for the drop for so long!!

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Added on November 27, 2008, 7:46 pmGenting and resort same balance sheet meh? Why would resort as a result of genting's balance sheet?

Here's some comments on resort : http://www.nexttrade.blogspot.com/

This post has been edited by kmarc: Nov 27 2008, 07:58 PM

Oh boy, drop again. What happened to Genting, those results are

i think its good call for IOI, to call of the purchase of Menara Citibank. Look at its closing price even shareholders agreed with IOI's decision. Maybank on the other cost s/h a bom, i dont get what u mean about money laundering and maybank got to do with IOI's purchase of a buildin.

Maybank went ahead although an option was given to Maybank to accept forfeiture of the deposit which was 500m +/- deposit was allowed. Furthermore the agreement between the parties was badly drafted so it was mentioned as well

Genting is writing off Impairment cost of its UK Casinos by RM 300m this Q.

The EPS is negative this Q.

Genting is resorts, asiatic, genting international mother company how can they both share the same balance sheet?

Genting own about 50% of resorts stakes.

more like Rm 73 for IOI... pocket change

they just have to spin s/h money and they will get back rm 73 m from the market

i am more bullish abt IOI in the short term since they r going to have more money to spend in the short term rather than being tied down by a huge chunk of property.

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Added on November 27, 2008, 8:42 pmthe lesson from here guys in whatever agreement that you sign make sure you have a get out cluase like due to financial crisis etc...

allowing your company to get out without havin to suffer a lost of significant amount of deposit ...

case study would be Maybank

This post has been edited by aurora97: Nov 27 2008, 08:42 PM

Our Malaysians CEOs seem to catch some flu from Wall Street by repeating mistakes after mistakes.

A big sell down of their shares may be good for small investors to buy at bottom.

This post has been edited by SKY 1809: Nov 27 2008, 08:46 PM

I was replying to the statement that since Genting's result was not good, Genting's share as well as Resort's share would drop.....

Would Resort share drop too as it doesn't have the same balance sheet?

I'm thinking to buy ramunia. Will it like KNM. Drop to 0.3x then bounce up to 0.6x ? any comment?

since genting own 50% of resort stakes, i would say it will affected Resort as well in term of investors emotions and confidence, might drop further at tomolo opening, but hope it will bounce back in the afternoon.


luckily i exit IOI today at 3.14

dun mind it drop more so i can buy again

First you got to see y genting result was not good
I beliv it is mostly due to the non performing at the UK CASINO

Whereas for resorts got to find out why the share price tumble today as i not really study much on these counter.

Ramunia is losing money in last Q and the coming Q.

It is quite diff from KNM though both are in the same sector.

Short term trading, no comment.

Resorts tumbled due to acquisition of 2 companies and Uncle Lim junior throwing shares.

Actually, can i know w hy EPS for genting is -ve? There are profits but why EPS become -ve? How to calculate?

KNM got long term potential?

Seems like Genting acquisition on UK casinos might be a repeating story of Resort on Star Cruise.

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Added on November 27, 2008, 9:35 pmIOI doesn't spare from controversial decision lately, from firing CFO because of forex loss to now abandon acquisition resulted loss of RM73 million.

Interest to know the actual reason of abandoning the acquisition.



This post has been edited by cherroy: Nov 27 2008, 09:37 PM

maybe , either one of these reasons causing them to drop the deal:
1) property mart already soften, value deccelerate faster than expected? (800 million as agreed for Menara Citibank)
2) difficult to obtain loan financing as banks turn cautious
3) IOI CEOs concern cannot finance debt with falling palm oil prices, falling revenue.

all I can guess of.

This post has been edited by sharesa: Nov 27 2008, 10:00 PM

My god, Genting q result looks Sh*t........I think my RM3.4 ~ RM3 is just around the corner.

Some news on Resorts.

27/11/08
Resorts World to buy Digital Tree, Bromet
Resorts World’s indirectly owned unit Resorts World Ltd is buying Bromet Ltd and Digital Tree (USA) Inc from KH Digital Ltd for RM249.8m to tap into the potential of Digital Tree and Walker Digital Gaming LLC. Walker Digital develops, protects and commercialises gaming industry ops, protects and commercialises gaming industry patents for casino table games like Guaranteed Play Blackjack and Elite Baccarat and electronic gaming consoles. The exercise would allow it to strategically invest in Walker Digital’s business. (Malaysian Reserve)


=======================
Check out OSK research on REsort at 29/07/08 ....
and read its 27/11/08 research paper.

Looks like me & KMARC bought Resort at one of its strong support lvl which is at 2.43 as stated in the 29/7/08 research paper.
Hope it will stay strong there before go up again.

Cheers,
v_viper88

This post has been edited by viper88: Nov 27 2008, 10:32 PM


Attached File(s)
 Resorts_Rock_solid_20081127_OSK.pdf ( 164.46k ) Number of downloads: 26
 Technical20080729.pdf ( 37.98k ) Number of downloads: 21

Hey, nice! How do you get those information? Register with OSK online trading account?

Woo hoo, I learn a new term today.... "Long Leg Doji"....