Stock Name: GENM
Company Name: GENTING MALAYSIA BERHAD
Research House: ECMLIBRA
Company Name: GENTING MALAYSIA BERHAD
Research House: ECMLIBRA
Genting Malaysia Bhd is still on a "Hold" call by ECMLibra Investment Research as its fourth quarter results are within
expectations.
"The fourth quarter core net profit reflected higher VIP volume and luck factor at Resorts World Genting year-on-year as well as quarter-on-quarter," said the research house.
It said revenue for fiscal year 2010 would have been two per cent lower year-on-year under normal win rate but it was admirable given the new competition from Singapore.
ECMLibra also maintained RM3.52 target price per share for the group. "Our catalyst to re-rate Genting Malaysia would be from the introduction of table games at Aqueduct and greenfield casinos in Newham, London and Hoi An, Vietnam," it added. -- Bernama
expectations.
"The fourth quarter core net profit reflected higher VIP volume and luck factor at Resorts World Genting year-on-year as well as quarter-on-quarter," said the research house.
It said revenue for fiscal year 2010 would have been two per cent lower year-on-year under normal win rate but it was admirable given the new competition from Singapore.
ECMLibra also maintained RM3.52 target price per share for the group. "Our catalyst to re-rate Genting Malaysia would be from the introduction of table games at Aqueduct and greenfield casinos in Newham, London and Hoi An, Vietnam," it added. -- Bernama
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