APAC IPOs & Placements

Zhen Zhou, Toh

Smartkarma

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<p><a href="https://www.smartkarma.com/entities/439" target="_blank" data-smartkarma-citation="entities:439:1">Genting Singapore Plc (GENS SP)</a> surprised the market on the <a href="http://infopub.sgx.com/FileOpen/GENS%20SGX%20Announcement%20Q3FY2016.ashx?App=Announcement&amp;FileID=427528" target="_blank">3 Nov</a> with its first interim dividend and a 94% growth YoY in 3Q16 EBITDA. Arguably the results benefited from a 5% decline QoQ in operating expenditure, while the gaming environment remains challenging with VIP &amp; mass GGR down 15% &amp; 3% QoQ respectively. However, the results adumbrate stabilising profit. The declining trend in the provisioning of bad debts is positive.</p><p><a href="https://www.smartkarma.com/entities/14210" target="_blank" data-smartkarma-citation="entities:14210:1">Genting Bhd (GENT MK)</a> is trading at discount to NAV of 32%, near its 12-month high of 34.9% and off its one-year average of 24.7%. As GENS’ largest shareholder, GENT provides an alternative investment route into Resorts World Sentosa. Below we take a closer look at what GENT’s stub assets offer up in that trade.</p>

Genting Singapore Plc (GENS SP) surprised the market on the 3 Nov with its first interim dividend and a 94% growth YoY in 3Q16 EBITDA. Arguably the results benefited from a 5% decline QoQ in operating expenditure, while the gaming environment remains challenging with VIP &amp; mass GGR down 15% &amp; 3% QoQ respectively. However, the results adumbrate stabilising profit. The declining trend in the provisioning of bad debts is positive.Genting Bhd (GENT MK) is trading at discount to NAV of 32%, near its 12-month high of 34.9% and off its one-year average of 24.7%. As GENS’ largest shareholder, GENT provides an alternative investment route into Resorts World Sentosa. Below we take a closer look at what GENT’s stub assets offer up in that trade.

Genting Bhd

Genting Berhad - Bet Collector