Hot Stock Genting Malaysia quiet despite Genting HK's purchase of Crystal Cruises
Page 1 of 1
Hot Stock Genting Malaysia quiet despite Genting HK's purchase of Crystal Cruises
Hot Stock
Genting Malaysia quiet despite Genting HK's purchase of Crystal Cruises
By Kamarul Anwar / theedgemarkets.com | March 4, 2015 : 3:59 PM MYT
KUALA LUMPUR (Mar 4): Apparently, investors are not very excited about [size=14]Genting Malaysia Bhd (GenM) despite news of its Hong Kong associate's acquisition of luxury cruise line Crystal Cruises Inc for US$550 million to expand its cruise business worldwide.
Shares of the gaming and hospitality group fell as much as seven sen or 1.68% in early trades today.
At 3:26 pm, Genting Malaysia (fundamental: 2.4; valuation: 0.6) shares recouped the loss to trade at RM4.18 apiece, just up 1 sen or 0.24%, on a trading volume of 2.96 million, giving it a market capitalisation of RM23.7 billion,
Bloomberg data showed analysts projected Genting Malaysia could have about 6.7% upside still from the last traded price, as their average target price was RM4.46. There were 10 “buy” calls, 13 “holds”, and one “sell”.
However, no analyst has issued a note on Genting Malaysia after it announced the purchase of Crystal Cruises.
Yesterday, its associate Genting Hong Kong Ltd (GHK) informed the Singapore Exchange that it had agreed to purchase Crystal Cruises, winner of “World’s Best Cruise Ship” award by Conde Nast Traveler for 21 out of 22 years since 1992, from Nippon Yusen Kabushiki Kaisha of Japan.
The US$550 million cash acquisition will be funded by a combination of internally generated funds and borrowings, said GHK.
This will be GHK’s second cruise brand under its umbrella, after its wholly owned Star Cruises Ltd.
[size=12](Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)[/size]
[/size]
Genting Malaysia quiet despite Genting HK's purchase of Crystal Cruises
By Kamarul Anwar / theedgemarkets.com | March 4, 2015 : 3:59 PM MYT
KUALA LUMPUR (Mar 4): Apparently, investors are not very excited about [size=14]Genting Malaysia Bhd (GenM) despite news of its Hong Kong associate's acquisition of luxury cruise line Crystal Cruises Inc for US$550 million to expand its cruise business worldwide.
Shares of the gaming and hospitality group fell as much as seven sen or 1.68% in early trades today.
At 3:26 pm, Genting Malaysia (fundamental: 2.4; valuation: 0.6) shares recouped the loss to trade at RM4.18 apiece, just up 1 sen or 0.24%, on a trading volume of 2.96 million, giving it a market capitalisation of RM23.7 billion,
Bloomberg data showed analysts projected Genting Malaysia could have about 6.7% upside still from the last traded price, as their average target price was RM4.46. There were 10 “buy” calls, 13 “holds”, and one “sell”.
However, no analyst has issued a note on Genting Malaysia after it announced the purchase of Crystal Cruises.
Yesterday, its associate Genting Hong Kong Ltd (GHK) informed the Singapore Exchange that it had agreed to purchase Crystal Cruises, winner of “World’s Best Cruise Ship” award by Conde Nast Traveler for 21 out of 22 years since 1992, from Nippon Yusen Kabushiki Kaisha of Japan.
The US$550 million cash acquisition will be funded by a combination of internally generated funds and borrowings, said GHK.
This will be GHK’s second cruise brand under its umbrella, after its wholly owned Star Cruises Ltd.
[size=12](Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)[/size]
[/size]
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics
» Highlight Genting acquires luxury cruise line Crystal Cruises for US$550 mil
» Hot Stock Genting Malaysia down after 'large block of shares' traded off-market
» Hot Stock Genting Malaysia rises on bargain hunting, fund-raising exercise
» Dec 19th - Companies in the news IOI Properties, BToto, Genting Malaysia, SCGM, Perduren, Ideal Sun City, Pan Malaysia, EA Technique
» KL stock market expected to be quiet this week
» Hot Stock Genting Malaysia down after 'large block of shares' traded off-market
» Hot Stock Genting Malaysia rises on bargain hunting, fund-raising exercise
» Dec 19th - Companies in the news IOI Properties, BToto, Genting Malaysia, SCGM, Perduren, Ideal Sun City, Pan Malaysia, EA Technique
» KL stock market expected to be quiet this week
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum