S&P Global Ratings has cut its long-term issuer credit rating on Genting Bhd. to BBB-plus from A-minus, the ratings agency said in a statement Wednesday.
Genting Singapore reported Thursday its third quarter net profit dropped 24 percent on-year to S$158.87 million on higher depreciation costs.
Genting Singapore’s stock should trend up as Japan’s bidding process for gaming concessions heads toward a conclusion next year, UOB KayHian said Friday.
Genting Singapore could be a beneficiary of the months-long protests in Hong Kong, with Singapore likely to see more mainland tourists, RHB said Friday.
Genting Singapore has filed to issue as much as 350 billion yen in yen-denominated bonds in Japan, the integrated casino-resort operator said Monday.
Genting Singapore reported Friday its 2Q19 net profit dropped 5 percent on-year to S$168.41 million amid a “significant decline” in the mass-gaming segment.
Genting Singapore’s shares are “cheap as chips,” despite potential positives from the RWS revamp and potential Japan integrated resort bid, CGS-CIMB said Friday.
Nomura increased its earnings forecasts for Genting Singapore on expectations for a looser credit policy ahead.
Genting Singapore reported Thursday its first-quarter net profit fell 5 percent on-year to S$205.47 million as gaming revenue declined.
Genting Singapore will likely have volatile earnings over the next 10 years due to tax and entry levy increases and its planned capex, Nomura said Friday.
These are Singapore companies which may be in focus on Thursday, 11 April 2019: Genting Singapore, Thai Beverage, Keppel and Mapletree Logistics Trust.
Moody’s affirmed Genting Signapore’s A3 issuer rating, saying the IR operator won’t need more debt to fund its S$4.5B Resorts World Sentosa expansion.