This is the latest news that GENM is being engaged in.
Well, Analysts estimate that its success bidding may bring in approx. 5 % of GenM's PBT
Please go to this link on GENM and RASINO ..:
http://docs.google.com/fileview?id=0B74IMi--bRpKOWZiYmVmOWMtMTM1Ni00YmRlLWFmZmItMzNlNjQ2YzkzMDQz&hl=en
The latest release of its quarterly financials on May,27, indicating a drop of 1% loss ,y-y ;; and 24% reduction q-q, . And the recent drop in profits are contributed by the losses incurred in various Overseas investments.
Looking ahead, GenM is now looking aggressively investing in US 's various gambling entities, including the Bellagio ,Tracinda,Foxwoods,Aqueduct,MGM Mirage, .......
With almost RM 5.6 B cash in hand, They may get many cheap purchases right now in view of the depressed Stock markets in US.
With their combined current Cash reserve of RM 5.5B and the Liquid assets of est. RM 1.8B will result in Approx. RM1.260 CASH per share.Then you can see that with EPS of Average RM 0.230 (last year average), you are dealing with a stock with PE of 6.4X (BASING ON TODAY STOCK PRICE at RM2.78)
The stock is still being traded below the 50D,100D, and 200 D EMA, if we neglect its Recent Low due to Global SELL DOWN, its strong support shall lie at RM2.60--2.65 0. Technicals are pointing Positively-Biased near terms, with RSI above 50, and positive MACD with Bullish divergence,
It may be a good Trading BUY now at RM 2,78, basing on its attractive valuation (Analysts value its FAIR Value ranging from RM 3.15 ---RM4.00 respectively....).
And with the present batch of young and Energetic Management teams,.......,
Who will dare to DREAM that it may even outperform its grand parent --"GENTING" -- not too far away from now??
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