As for HMTM, TauRx will have to wait for the result of their marketing authorization approval from UK MHRA. It will be out of the 150 days if there is no announcement from UK MHRA by end of Jan'25; may take a few more months. GenS recovery would have started by then.

these are drugs that gets into human body, Vin :) It has to be reviewed thoroughly before being approved. Different authority may have different practices. The US FDA allow public to dial in/join the call for any new drugs data review prior to approval :) none for UK MHRA and UK MHRA depends on Commission on Human Medicines for the review of such new drugs/meds if I am not mistaken.

you are welcome, Vin. the plunge started in Aug driven by Gen S near term earnings disruption, RWLV complaints and index funds rebalancing which will be completed before 23rd Dec. Should be marching towards RM4 when GenS showing signs of recovery - Q2'25 if not Q1'25; when new attractions being opened to the public.

I added last Friday, Jk :) Will wait after Q4'24 results is out first. GenS recovery should be visible by Q2'25. 8 months to go and I dont have that much liquidity to buy every week until then :) However, if some positive theme develops in coming weeks, then, will consider to join the fun. Funds/insti shall be the lead though. small fish like us just follow will do.

I didnt use technical indicators for Genting, Vin. I did some calculations previously and initiated positions accordingly. Didnt notice any negative shift to the variables; so far so good. Last Friday candlestick was interesting though - the bull (optimistic) versus the bear (pessimistic). Its still locked in between since last Friday :) The winner between the bull and the bear will push through the low / the high as seen on last Friday in my personal opinion. It has priced in all the major negative news which has been recycled in the media since Aug. Clarity on RWLV and opening dates for RWS2.0 started to fill the media recently which is positive for Genting.

Looks like we should have a closure for RWLV complaints very soon :) The NGC is closing Scott Sibella complaint which is open since Apr; will be discussed and approved in 19th Dec meeting :) Lets keep an eye for Jan 2025 agenda. https://gaming.nv.gov/gaming/complaints/stipulations/

yeah, the timing of Scott Sibella's disposition plan seems to coincide with Genting's BODs appointment and response to NGC by 9th of Dec. Not going to jump into conclusion but its giving a good feeling though :) Independent AML policies oversight by the BODs plus monetary fines.

The initial information mentioned early 2025; Vin. Could be first half of 2025. I checked the website of MEP contractor appointed for the hard rock hotel refurbishment and it says - The hotel, taking over the site of the former Hard Rock Hotel, will feature over 350 rooms, including deluxe rooms, suites, and a new presidential suite. Work commenced in early October 2024, and will be completed in phases for handover in 2025..

Timing wise looks good judging from the statement of work commenced in early Oct'24, Vin. Hard Rock Hotel stopped operating in Mar, pre-project planning, feasibility/assessments, detail design, permitting, approvals, procurement were all completed to enable construction starting with MEP works. MEP tends to be the critical path and this is the same contractor that completed the Hotel Ora MEP upgrades last year; within 10 weeks time :) I presumed the strategy is probably soft launching of the hotel to start accepting guests while non disruptive renovations to continue/completed thereafter; still within 2025.

The casino industry in the Asia-Pacific region is expected to “perform robustly” next year, “particularly in Singapore and Malaysia, due to tourism recovery and property investments.” That is according to the “Global Gaming Outlook 2025″ report by Fitch Ratings Inc, published on Friday. Fitch projects full-year 2024 gaming revenue in Singapore to rise by 5 percent, “surpassing pre-pandemic levels,” with growth expected to “moderate to around 3 percent in 2025”.

“We estimate higher gaming revenue compared to pre-Covid-19 levels, driven by significant growth in the premium mass and VIP gaming segments over the last year,” wrote the rating agency. It added: “Robust performance at the Singapore casino operators Genting Singapore Ltd and Marina Bay Sands Pte Ltd is supported by the continual recovery of Singapore’s tourism sector.”

Fitch further noted that the two casino operators’ ongoing investments in property enhancements would help sustain traffic and revenue growth. “However, growth is likely to be capped by a mature tourism market and increasing cost of travel in Singapore,” said the team of analysts. The operators of Singapore’s two integrated resorts committed in 2019 to multi-billion-U.S.-dollar investments to expand their properties, as part of agreements with the local government to extend their duopoly on casino gambling in the city-state until 2030. The majority of these investments are only now underway, having been delayed by the Covid-19 pandemic and other factors.

In Malaysia, Fitch expects gaming revenue to grow by around 7 percent in 2025, following an estimated 11-percent increase for full-year 2024, exceeding pre-Covid-19 levels. “We estimate higher revenue due to a domestic traffic rebound, helped by the completion of repairs to an access road connecting Batang Kali to Genting Highlands in July 2024, and an increase in international tourists as regional travel continues to recover,” Fitch stated.

The institution added: “We expect an increase in Chinese tourists as well as Indian tourists benefiting from visa-free arrangements to boost overall tourist arrivals from the second half of 2024.” Genting Malaysia Bhd operates Resorts World Genting, Malaysia’s only licensed casino property, in Genting Highlands. The property generated third-quarter revenue of MYR1.68 billion (US$376.6 million), which “improved marginally” compared to the same period a year earlier, according to a filing by Genting Malaysia last month.

Fitch’s “Global Gaming Outlook 2025” did not provide specific estimates for the Macau market. The rating agency maintained a “neutral” outlook for global gaming in 2025, citing varied regional dynamics: “ebbing demand in North America, robust performance in the Asia-Pacific region, and temporary regulatory stability” in the Europe, Middle East, and Africa market.

Lol, Vin. You must have invested heavily in Genting :) depending on types of technical indicators that you are using, Vin. I think the price is already at the bottom though I have not seen any signs of divergence yet. There is no negative news either. Funds/insti are the "chart maker" :) It will reverse when they start buying.

FTSE KLCI Index funds would have fully exited Genting by the end of this week. Lets see whether will the value and the yield of Genting be attractive enough for other funds/insti when they perform their quarter end portfolio rebalancing going into Jan'25.

tightening monetary policies in the horizon and growth stocks not gonna like it. After all, its fairly valued to overvalued situation in the US. As for Genting, its undervalued based on all the analysts ratings from WSJ; no negative news, priced in GenS short term disruptions, limited downside if you will. We should see some funds/insti actions next week going into end of 2024 and beginning of Jan'25. We will know whether they are optimistic or pessimistic by then :)

They have spent years on clinical trials, Vin. The data have just been submitted in Jul'24 this year. The clock starts from there. If it is approved, TauRx will have to get the drugs into the UK market within 3 years time. I believed submission to Europe/US/Canada and other markets will follow suit upon UK MHRA approval.

Genting group is a sleeping giant, Jk :) A giant that generates mid to high single digit billions ringgit from its operations. There are not many companies capable of generating such cash from its operation other than banks. So, manage your positions well while waiting for the giant to be awakened. We just need to monitor for risks that could jeopardize its operation; limiting its ability to generate the cash needed for growth.

For those wondering the role of NYGFLB from the link above. The NYGFLB is tasked with recommending licencees for three downstate casino licences from the bids submitted by June 2025. NYGFLB will vet applications and make recommendations to the New York State Gaming Commission (NYSGC). 2nd half of 2025 will be exciting for Genting group - growth of RWS and RWNYC :)

manage it well, jk :) euphoric moments will come in second half of 2025; expecting upward eps revision, tp targets to be raised by IBs by then. lets not forget the earnings growth - RWS2.0, RWNYC full casino license prospect, first drop of LNG expected in 2026 and the wild card of TauRx.

Happy weekend, Vin. Is there a TauRx news? TauRx mentioned that its 150 days approval process. The actual days may take longer than that if the authority requests for more information. One actual example is Lecanemab by Eisai. The marketing authorization was submitted under the 150 days approval process in May'23 and approved in Aug'24; actual days longer than 150 days. I am not concerned at this stage because submission to authority has been done. Its just a matter whether approved, conditional approval, reject or resubmission.