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Hong Leong maintains 'hold' rating on Genting Malaysia
by Cals Fri 19 Jul 2013, 14:14
Hong Leong maintains 'hold' rating on Genting Malaysia
Business & Markets 2013
Written by Bernama
Friday, 19 July 2013 14:10
KUALA LUMPUR (July 19): Hong Leong Investment Bank Research (HLIB Research) has maintained a "hold" rating on Genting Malaysia with an unchanged target price of RM4.10.
In its research note, HLIB Research said the counter is a defensive stock with a monopoly in the industry, and new sources of earnings from international markets to drive earnings growth.
On the impact of the closure for two years of Genting Highland’s Outdoor Theme Park as was reported by a local newspaper yesterday, HLIB Research said it did not expect any major financial losses, as entertainment revenue contributes only marginally to the group.
"Upon completion, we foresee that the group may increase its theme park
ticket prices," the research house said.
As at midday, Genting Malaysia gained two sen to RM3.88, with 1.24 million shares traded.
Business & Markets 2013
Written by Bernama
Friday, 19 July 2013 14:10
KUALA LUMPUR (July 19): Hong Leong Investment Bank Research (HLIB Research) has maintained a "hold" rating on Genting Malaysia with an unchanged target price of RM4.10.
In its research note, HLIB Research said the counter is a defensive stock with a monopoly in the industry, and new sources of earnings from international markets to drive earnings growth.
On the impact of the closure for two years of Genting Highland’s Outdoor Theme Park as was reported by a local newspaper yesterday, HLIB Research said it did not expect any major financial losses, as entertainment revenue contributes only marginally to the group.
"Upon completion, we foresee that the group may increase its theme park
ticket prices," the research house said.
As at midday, Genting Malaysia gained two sen to RM3.88, with 1.24 million shares traded.
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