Reasons why Genting SP is falling
Many is asking why Genting SP share price is dropping so badly lately? Let me share some of the news that i got on Genting Singapore which is affecting the price of the share.
Genting SP losses grow
Net loss doubles for full year of 2009 to $277 million which is higher then $124 million loss incurred in 2008.
Maybe due to increase of the price of raw materials to build and to complete the casino and increase in pre operation expanses really took on its toll on the earnings of Genting SP.
Selling pressure of Genting Berhad
Genting Berhad fell drastically as well to RM6.36 which might caused them to loose RM667 million in market capitalization.
Genting Singapore becomes unattractive
Genting SP has seen tripled in value since 2009. With the increase loss, the current price is not justified. Earlier than anticipated opening of the casino that seemed to have caught some investors unprepared.
Conclusion
I won’t be selling my Genting SP soon as the fundamentals of this stock is still there. Hope this short term pain will be a long term gain in the future. Huat ah… ^^
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2 Responses to “Reasons why Genting SP is falling”
By Vincent on Feb 23, 2010 | Reply
I agreed with you Kampungboy. No point to cut loss as it’s fundamental still strong.
More importantly, Genting is not build up in a day, and gaming business is always making money.
If we have more bullet, we can even collect Genting for around RM6.3x now.
Thanks for added my blog to your blogroll anyway.