Genting Singapore Plc, operator of the first casino resort in the city-state, dropped to its lowest level in seven weeks on concern visitor numbers will drop once a second casino resort opens next week.
“Competition won’t be good for the stock,” Wai Kee Choong, an analyst at Nomura Holdings Inc in Kuala Lumpur, said by phone.
Genting dropped 1.2 per cent to 86 Singapore cents as 11:47 am in Singapore, heading for its lowest closing level since March 4. -- Bloomberg
This message was edited by goodwin54 on 22-Apr-2010 @ 12:34 PM
In my opinion, this stock is over valued. The Company is still servicing its loan. Although the loan interest is conducive to borrowers, but it's still a cash outflow.
The capital expenditure is also huge, the Company would start depreciating it from 1st year of operation.
The earnings would not not spectacular, as competitions is very keen. I foresee a downward pressure on this stock.
Its not a good time to hold this stock at this price level. Maybe at more realistic price level of 55c~60c, then start accumulating.
I foresee the potential of genting but I'm not going in again until it reach $0.70, because the whole market don't look good for the next few month
I see that Genting will cross $1 mark , but dun know when is gd time to go in as market still unclear.Me trading CFD so got to go into a point where they start to push up steadily.
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Genting Singapore falls to 7-week low
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22-Apr 2010 Thursday
12:31 PM (5136 days ago)
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Genting SP