WenChong Ng's comment on GENM. All Comments

WenChong Ng
67 Like · Reply
直接变垃圾股 收了一年了 价差都不够补股息 收了个寂寞
Nick Chung
there are many call warrant holders .. it's crazy to put a big bet on a betting business . . . feel sorry for them..
2 Like · 1 week · translate
marvellous s3mn
thr is no need feel sorry for them, if they go a big bet ,they should need learn to take the risk
2 Like · 1 week · translate
cheng
As Is - USDMYR has retraced by ~1.5% from the peak in Q1'24. Speculation is rife that petrodollar deal is dead. Every 4.5% weakening of USD is equivalent to approx 145M increase in profit for GenM
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Ricardo Siau
experts r predicting its impact on USD will cause a 50% devaluation, genM extraordinary gain of 1.6b per annum?
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cheng
50% devaluation in a year will be scary, Ricardo. If we look at the recent 3 quarters performance, the adjusted ebitda fluctuations related to foreign exchange is really volatile - swinging from positive 100M to negative 100M++ per quarter. On the other hand, the adjusted ebitda for leisure and hospitality is consistently more than 750M. The gradual weakening of USDMYR itself is good enough for GenM to stabilize its earnings :) The current trends of USDMYR means Q2'24 QR is trending towards better than Q1'24.
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2 Like · 1 week · translate
Nick Chung
I thought if strong myr means devaluation...?
2 Like · 1 week · translate
cheng
Similar meaning, Nick. We were talking about the end of petrodollar deal which could trigger usd devaluation - weakening of usd; which is beneficial for GenM; 145M profits increase for every 4.5% weakening of usd.
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Nick Chung
alright.. stars aligned . fed rate drop, governance stability , recovery on point . next year should be genting / genm to shine / consumer stocks. usd myr 3.5-3.8 in coming years
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Nick Chung
like I said coming Years, definitely not short term.
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cheng
ermm... drastic change in currency will affect GenM's profit/loss. ~145M profit for every 4.5% weakening of USD. as for interest rates, the impact is not so much ~8M for every 1% change on interest rates. As for US interest rate change versus value of ringgit, it is not 1 to 1 or direct correlations though in general lowering the interest rates tends to lead to depreciation of the currency. There's other factors related to the strength of the particular currency in this case ringgit from the economic perspectives.
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3 Like · 1 week · translate
cheng
If we want to compare interest rates versus currency, it should be US interest rate against the USD index itself and that's where you can see increasing the US interest rates led to appreciation of the USD. Too much variables if you were to compare US interest rates against USDMYR without looking at the USD itself. If you have to compare US interest rate against USDMYR, you have to include another chart which is the USD itself. You can then see the difference where interest rate flat, USD flat, USDMYR is still going up (Ringgit weakens) for whatever the underlying economic reasons that affects the ringgit. Just my personal opinions, could be wrong. Hope it helps.
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3 Like · 1 week · translate
Siew Hock Huang
Investment, not speculation, has been Warren Buffett's method.He goes for the LONG game. His personal wealth of 120 BILLION dollars is a concrete PROOF that he is right!
He started buying stocks at 11 years old , bought a 40-acre farm land for 1, 100 dollars at 14, bought house for 31, 500 dollars at 28.
His lesson to all : SAVE FIRST before you spend, not spend first and save later.

Be fearful when others are greedy.

Be greedy when others are fearful.

in short, play. the OPPOSITE GAME
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3 Like · 1 week · translate
cheng
well said, shh. RVIX spikes is always the best when it comes to decent returns in investment :)
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cheng
Monish Prabai is one that is honest enough to openly declared that he copied Warren Buffett's methodologies. There could be more that made lots of money or decent passive income from investment but did not appear in the news :)
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tim foo
没有大跌反而反弹,应该最底部了。
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Frank Tan
還以為可以有2.50收票。。
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cheng
the yield is too attractive to ignore :)
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Yam Fook Wai
林梧桐。。木之命,遇火则旺也。。
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Fatty Bombom
没江湖常识很可怕的,难道你家里打破了杯子你会破产?这和云顶火烧一小部分是同一个道理的……….. 别喷我闪人哈哈哈哈哈哈哈……….. 笑死我还跌停哈哈哈哈哈
4 Like · 1 week · translate
Fatty Bombom
我来仙家一下…….. 现在走着九运…….. 九运=火运………. 风水佬讲的哈哈哈哈哈哈哈
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小号
這個如果會跌停真的很夠力哦。不
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Fatty Bombom
运离那些没江湖常识和坏心态的人,你的人生便会美好………闪人………….
3 Like · 1 week · translate
Nick Chung
今天没什么量,好坏消息来着。。。?
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cheng
local abang guarding :)
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tim foo
排队255都没加码到,真是够力。
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cheng
looks like local abang and retail abang tag team guarding it :)
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Jian Wei
Today selling pressure not much that’s why price ok
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Melvin 8888
感觉2.55要来了,排队先看看今天的luck, 哈哈
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cheng
Any price is good as long as the yield is more than 5%; defensive play against inflation - diesel hike, salary increase for government staffs and GLCs by year end :)
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WenChong Ng
cheng, you can confirm every year 90 cent and 60 cent?
2 Like · 6 days · translate
cheng
15 cents dividend for FY22 and FY23. That reflects mgmt's intention / body language, wenchong. There are no headwinds that could jeopardize / impairs it's ability to provide dividend at the moment. No rooms for higher than 15 cents at the moment though.
3 Like · 6 days · translate
WenChong Ng
what I mean is when the share price keep on shaking down and down, the 15 cent per year dividend will be affected as well
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cheng
not sure whether i understood it correctly. dividend is paid out of retained earnings and nothing to do with share price. if share price goes lower, dividend payout remains the same, yield will be higher.
6 Like · 6 days · translate
cheng
the assumption that i was using last year before initiating position at 2.45 is based on 15 cents dividend, tp 3.00 per IB's target and 15% rate of returns. Since then, I have not encountered any situation whereby the share price is lower than 2.45 while a total of 15 cents dividend have been paid out so far.
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4 Like · 6 days · translate
cheng
As Is - I am waiting for opportunity to add at 2.50 and lower if it is available. This is also using the similar approach but updated with latest IB's average TP of 3.35 instead of last year average TP of 3.00 and another 15 cents to be collected in FY24. By then, market should start to price in the outcome of RWNYC results which is expected to be announced by next year while bidding submission is expected 2nd half of this year; as early as Aug'24 based on the approved bill S9673. While we do not have visibility on changes to dividend payout, we can manage the risk accordingly :) A reduction in dividend payout leads to lower intrinsic value and hence, keeping your average price near to 2.45 is good enough.
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6 Like · 6 days · translate
Whack9e
Hopefully GenM can generate decent profit in coming QR.. without earnings dividends should be squeezing further
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Nick Chung
instead of giving more dividend ho, reduce it better right. ..
1 Like · 6 days · translate
cheng
foreign abang and local abang will sell if dividend is reduced at the back of earnings recovery. Why would abang invest their money in GenM if the yield is lower when Malaysia10Y government bond yield is ~3.9%++ :) So, if GenM yield is lower than 4%, it is no longer attractive for investment.
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4 Like · 6 days · translate
Nick Chung
reduce dividend can scare shareholders away... then push up gogo hehe
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leo king
eps 7 cents last year, dividend 15 cents. ermmm i dont think itss healthy
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BOSS LIM
可以回去2.80 你们就好开酒庆祝了,这种股已经烂透了
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Nick Chung
if same like genting 3% is not bad ...
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Jian Wei
dont understand how mrdiy is so much more valuable than genting malaysia
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marvellous s3mn
2.56 is quite cheap and done top up,i will just hold for long term, scare what
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Nick Chung
because genm has more risks than mrdiy
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Melvin 8888
jian wei ,
see u at 3.00
hehehe...
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Nick Chung
very good mindset marvellous, 短期亏得起,长期赚得起
3 Like · 5 days · translate
William
云顶没希望了, 只会越跌越低
1 Like · 5 days · translate
cheng
One more week to go for quarter end rebalancing and foreign abang should have been done with their rebalancing. Net short positions remained at 15M+ which is a two months low. Foreign funds/institutions are pretty quiet this week. They are probably busy with quadruple witching in US :)
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5 Like · 5 days · translate
tim foo
我准备好了,250来呀。
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WenChong Ng
跌穿2.50的话真的可以跑路了
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Kee Woei
快点跑啊,把手上的票卖给我啊。等2.4
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Tok Tiong
云顶大马有进军新能源吗?还是只有云顶罢了?
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爱丽丝
genting母公司罢了
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leo king
如果是3-4年前搞可能会大起.现在搞难说了收市看看能不能维持上升。
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cheng
Genting group's BOD hard at work. Pumping lots of money into capex :) RWS2.0, RWNYC, and now, energy segment.
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Nick Chung
being bearish on most stocks won't take u anywhere, my friend .
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lightning domain
start to bull run edi.
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cheng
Bearish on genting? You must be the first one. zero sell call from 10 analysts covering Genting and 13 analysts covering GenM :)
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Nick Chung
u bearish on genm is reasonable , but if u bearish on genting u to hv revise ur fundamentals..adui
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cheng
lol... lightning domain. high lumens time
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Nick Chung
wow... damn cringe xD
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cheng
I am just a newbie in GenM and joined as shareholder last year. Trying to absorb and learn about GenM as much as possible. Hopefully it will be a worthwhile wait.
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cheng
keep calm :) foreign abang are back.
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cheng
Experts at City & State’s inaugural “Who’s who in casinos and sports betting” event suggested New York on its revenue streams last year alone could exceed gambling heavy cities like Las Vegas. They noted to attendees at Hebrew Union College in Manhattan that the state brought in more than $4.7 billion in gaming revenue in 2023, including $700 million from video lotteries, $850 million from sports wagering and over $150 million in commercial casinos.
Jerry Skurnik, commissioner of the New York State Gaming Commission, attributed some of the state’s sports wagering profits to New York’s high tax rates and robust regulations. “New York's been the most successful state in the country as far as revenue from sports wagering, partially because we did what the companies did not want, by setting a high tax rate,” he said.
“One product of gaming that nobody talks about, a cash cow for the state, is the state lottery – $2 billion – and that helps small mom and pop stores stay in business in every community,” he added.
However, even though gaming is thriving in New York, there remain significant delays to downstate casino licensing, a process which has been waiting approval since 2022, said state Sen. Joseph P. Addabbo Jr., chair of the Committee on Racing, Gaming and Wagering. “We should not be at this point, two years after the legislative process and the legislative vote,” Addabbo said.
“[The] legislation should be signed, because we are done, or should be done talking about possibilities,” he continued. “We should know where these sites are, we should know what the issues are, we should be able to start to satisfy these issues. But we cannot, because this process hasn’t started. And that's a major reason why we need to start this process. We need to know where these sites are, we need to know what exactly the issues are, we cannot until we get this process started.”
With the state Senate and Assembly last week approving a bill that would move up the deadline for downstate licensing to August 31 from mid-2025, licenses could be issued sooner and generate funding to help the Metropolitan Transportation Authority replace congestion pricing, Addabbo said. However, once applications are made, bidders should select realistic sites that comply with New York’s zoning and land-use laws, Assembly Member J. Gary Pretlow, Chair of the Committee on Racing and Wagering, told attendees.
“It’s not really our responsibility to ensure that a potential bidder has land that's suitable to build a casino. These land use laws have been in the books probably since the early 1900s,” Pretlow said. “Anyone who is interested in building a casino should be well aware [of these laws] and not pick a spot, knowing that it's going to be next to impossible to get zoning, and then try to have us change the law to allow their location to become eligible for a casino.”
In addition to traditional streams of gaming revenue, panelist Howard Glaser, global head of government affairs and legislative counsel at Light & Wonder, urged state leaders to expand the market by authorizing online casino gaming, which has been authorized in New Jersey, Pennsylvania, Connecticut, Rhode Island and Michigan – yielding $6 billion in combined revenue last year.
“On the whole, online gaming yields about three times more revenue per person than sports betting does. The industry has been working on expanding online gaming, particularly here in New York, because you're surrounded by [authorized states], and because it's happening in the state illegally,” Glaser told attendees. “That's about three and a half billion dollars stolen from New York every year. That revenue, if New York authorized, is a billion dollars in net tax revenue a year easily."
Glaser dismissed concerns that online gaming could lead to the cannibalization of brick-and-mortar casinos. Both have worked together and delivered growth, he said.
“In every state where gaming has been introduced, land-based casinos have seen more revenue and more investment because they’re bringing in a new demographic,” Glaser explained. “Ten years down the road, there's so much competition in the entertainment field for casinos, that the client base is changing. If you don't have a digital product to offer, I fear for the revenue production of casinos going forward.”
Lawmakers at the event agreed downstate licensing should be a priority before expansions in online gaming. “One of the things that I've been working toward is getting the downstate casino license issues civil before going into iGaming,” said Pretlow, “because we don't know who’s going to have these iGaming licenses. And if we do it right now, those licenses could go to the four upstate casinos, and we have to have room for the three downstate casinos.”
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3 Like · 4 days · translate
cheng
Basically, the state needs the revenue from the 3 full casino license winners. And the winners have to sort out the land issue needed for the casino. RWNYC is one of the two front runner as they have existing facility for casino. And bill S9673 will expedite and put a hard datelines for the NY gaming commission.
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3 Like · 4 days · translate
cheng
I can understand why RWNYC is one of the two front runners for the 3 casino license - they have been generating revenue through taxes for the states / education funds. I wouldnt bet against that until the announcement of the winners :) Miami land sales previous deal that didnt go through was tagged at USD1.2bil :) And the asset is still tagged for sale until today as indicated in the financial report / balance sheet.
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1 Like · 4 days · translate
cheng
you can find the details of its contribution to the state. And RWNYC is the highest grossing casino outside of Las Vegas, Nevada :)
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cheng
go to page 6 in the above link :) RWNYC
2 Like · 4 days · translate
cheng
RWNYC and MGM are the two front runners for the 3 full casino license. Its an open secret as both are having existing casino facility/operations (slots machine only as you can see from the link above for RWNYC). The other bidders are asking / presenting plans to build new casino which didnt go well with local communities :) One of the bidder's (Steve Cohen Mets) plan which is to build a new casino at citi field did not get the blessing from the senators :)
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2 Like · 4 days · translate
cheng
take your time to research :) I am still learning about GenM too. There is also mid hill development (Genting Xintiandi); a partnership between GenM and Aset Kayamas; launched second half of last year and phase 2 opened for registration. https://www.gentingxintiandi.com/
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4 Like · 4 days · translate
cheng
Perhaps reporters forgot to cover it :) Did not see any news for GenM related to this. Extended to 2026 :)
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cheng
Lol, TN. I dont think there is anything wrong with the boss / the son. As for moving money around businesses, I have no idea what is that. I believed its more to capex on the energy segment. It has nothing to do with GenM's MTNs issued recently. MTNs are a form of debt financing and the funds generated upon issuance of the MTNs can be used for different purposes as outlined in the MTNs - opex, capex, investment, refinancing, working capital and etc.
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4 Like · 3 days · translate
cheng
MTNs are not new and GenM has issued these in the past even before the pandemic. Its either equity financing or debt financing; debt financing is cheaper option compared to equity financing. We have not heard any announcement of major capex or investment for GenM yet which could be one of the reasons for the MTNs issuance. Opex and working capital probably unlikely as it has recovered to pre-pandemic level and generating positive ops cash flow. Another possible reason would be refinancing. If you look at the details of the MTNs in the annual report (AR2023) page 156, you will be able to get the details of all the past MTNs. There's one that was issued back in FY2015 - 1.3bil 10 years MTN at 4.9% coupon rate which has yet to be redeemed. Its possible that the recent MTNs may be used for early redemption of this; the total amount seems to be matching. Just my opinions, could be wrong. Hope it helps.
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4 Like · 3 days · translate
cheng
I have no idea about racing or high debt high interest, TN :) I have read the qr, the annual reports, the gaming industry in US, the risks associated with sin stocks, and I am happy with the quotes/yield from Mr. Market. Not sure what will happen next but that's the fun part of investing. It is alright if Genting/GenM doesn't suits you. Have faith in your own plans. Enjoy your weekends.
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3 Like · 3 days · translate
leo king
Whats right? if you make Profit then you are right.
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Nick Chung
words coming out from a full time trader.. have a good weekend
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cheng
Inflation is up by 2% based on May's data :) Yet to include the diesel hike in June and civil servants salary increase in Dec. Attractive yield here at GenM for local abang and long term retail abang :)
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lau andy kok chong
can buy in now??
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cheng
I am still holding since last year :) and prospects/tailwinds lined up for second half of the year until next year.
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Tteffub Nerraw
Market worry diesel up, no gambler wanna drive to genm. Bus also don't want already.
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散户的机会
U stupid Tteffub Nerraw , u Dono The wool comes from the sheep this meanings ….. every day full house at Genm …. Don try don make panic here
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Tteffub Nerraw
did you know how many vehicles use diesel go up genting ma? Next month start, casino will be empty.
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Frank Tan
Empty...hahaha...thanks for the good joke.
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Jian Wei
People go genting partly because of the cold weather la
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Tteffub Nerraw
genm operation also up. Next Q in Aug, eps must drop.
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Tteffub Nerraw
also.. ron95 soon also up like diesel.. then the stock -10%
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Ricardo Siau
Cheng, Anwar has said he would raise the minimum basic salary of civil servants by 67% to $2000, benefitting ~3m of the entire 16m workforce. This coupled with other tightening measures taken by him will surely engender super inflations
2 Like · 7 hours · translate
cheng
The May increase was primarily driven by restaurants and accommodation services plus housing, utilities and gas/fuels category. That makes GenM's yield attractive coupled with the tailwinds for capital appreciations, Ricardo. The next two consumer prices update will give a preview of the impact from the diesel hike.
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2 Like · 6 hours · translate
Tteffub Nerraw
If Eps drop50%, Dps drop 100%
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cheng
You can use the link above to monitor it, Ricardo. And, plan your investment decisions accordingly :)
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Ricardo Siau
thx Cheng, I foresee the impact of petrol subsidy removal, gst, e invoices, substantial salary increments n other inflation inducing measures will dwarf the diesel hike's
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Tteffub Nerraw
Dashboard are rear view. Stock market is forward looking.
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cheng
Thanks for sharing, Ricardo. Will keep an eye on it :)
2 Like · 6 hours · translate