Stock Name: GENM
Company Name: GENTING MALAYSIA BERHAD
KUALA LUMPUR: CIMB Equities Research is maintaining its Outperform recommendation on Genting Malaysia after its unveiled the master plan for its US$3 billion Resorts World Miami (RWM) last week.
The master plan includes four hotels, two residential towers, luxury retail space and, if allowed by legislation, a casino.
CIMB Research said on Monday, Sept 19 that though undeniably attractive, the project's ultimate appeal to Genting Malaysia is the gaming component which hinges on regulatory approval.
'But the company has undeniably a head start over its rivals given its ready master plan and 30 acres of contiguous land in a prime location.
'Genting Malaysia remains an OUTPERFORM with an unchanged SOP-based target price of RM4.50. Potential re-rating catalysts include 1) a smooth opening of the Aqueduct Racetrack, and 2) stronger contribution from overseas operations,' it said.
Company Name: GENTING MALAYSIA BERHAD
| Research House: CIMB | Price Call: BUY | Target Price: 4.50 |
KUALA LUMPUR: CIMB Equities Research is maintaining its Outperform recommendation on Genting Malaysia after its unveiled the master plan for its US$3 billion Resorts World Miami (RWM) last week.
The master plan includes four hotels, two residential towers, luxury retail space and, if allowed by legislation, a casino.
CIMB Research said on Monday, Sept 19 that though undeniably attractive, the project's ultimate appeal to Genting Malaysia is the gaming component which hinges on regulatory approval.
'But the company has undeniably a head start over its rivals given its ready master plan and 30 acres of contiguous land in a prime location.
'Genting Malaysia remains an OUTPERFORM with an unchanged SOP-based target price of RM4.50. Potential re-rating catalysts include 1) a smooth opening of the Aqueduct Racetrack, and 2) stronger contribution from overseas operations,' it said.
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