USDT交易所程序出租点击联系我),全球頂尖的USDT場外擔保交易平臺程序出租。

Resorts conglomerate expected to recover

PETALING JAYA: Following weaker-than-expected earnings from its Singapore subsidiary, parent-company, Genting Bhd’s earnings estimate for financial years 2022-2023 may come in lower now. In the first half of FY22 (1H22) core net profit of Genting Singapore Ltd fell 3% year-on-year to to S$108.7mil (RM352.6mil).

This, according to Kenanga Research, made up 32% of consensus’ FY22 forecast, owing to “weaker luck factor”.

To account for this, Kenanga Research has cut Genting’s FY22 and FY23 earnings forecasts, by 7% and 5%.

“Despite international borders reopening, international tourism visitorship remained weak in 1H22 but should recover further from here.

“For now, we keep our ‘outperform’ call on Genting unchanged, pending its 2Q22 results later this month-end,” said Kenanga Research in a report. It has a RM5.86 target price for Genting.

The research firm expects a better 2H22 as Genting Singapore is likely to experience growing volume after a slow start in April and May.

“The company is still cautiously optimistic of a recovery trajectory in view of the border reopening as more travellers return to the island state which should augur well for Genting Singapore,” it added.

,

皇冠信用网appwww.hg108.vip)是一个开放皇冠信用网代理APP下载、皇冠信用网会员APP下载、皇冠信用网线路APP下载、皇冠信用网登录APP下载的皇冠正网平台。皇冠信用网APP上最新登录线路、新2皇冠信用网更新最快。皇冠信用网APP开放皇冠信用网会员注册、皇冠信用网代理开户等业务。

,

Meanwhile, it noted that the expansion of Resorts World Sentosa (RWS 2.0), in which Genting Singapore has invested S$400mil (RM1.3bil) in 2022, is progressing well.

“It has done the groundbreaking for Minion Land in May 2022, which is part of the Universal Studios of RWS 2.0, together with the refurbishment works for the theme park and three of its hotels, getting ready for the borders reopening,” said Kenanga Research.

Hong Leong Investment Bank (HLIB) Research said Genting Singapore’s RWS’ gross gaming revenue market share for 1H22 was only 35% versus 65% for competitor Marina Bay Sands.

“Management shared that they plan to hire an additional 1,600 workers by the end of the year, adding circa 32% to the current workforce of about 5,000 workers.

“The recruitment is making good progress over the past several weeks and management believes they are on track in achieving their hiring target,” the research firm noted.

HLIB Research has cut Genting Singapore’s earnings forecasts for FY22 and 23 by 14.2% and 7.2% to factor in the results shortfall for the quarter as well as lower operating capacity assumptions.

However, the research firm believes that the group should see gradual sequential improvements going forward.


转载说明:本文转载自Sunbet。 皇冠官方app声明:该文看法仅代表作者自己,与本平台无关。转载请注明:皇冠信用网app(www.hg108.vip):Resorts conglomerate expected to recover
发布评论

分享到:

欧博allbet注册:India's palm oil imports fall in July as soyoil jumps to record high
你是第一个吃螃蟹的人
发表评论

◎欢迎参与讨论,请在这里发表您的看法、交流您的观点。