Eddy Khoo's comment on GENTING. All Comments

Eddy Khoo
5 Like · Reply
genting has become the sick man of Bursa.
cheng
understandable, Eddy. following are my perspectives - I believed the emotional cycle for Gent is at anger/depression phase which means market is at the bottom. I am looking for transition/start of hope/recovery phase. The recent rating agencies downgrade of Gent did not push it to a new low; sep'25 double bottom. It seems to me the following (1) price no longer making lower lows (2) downgrades/bad news unable to push it lower (3) currently developing - low volatility, sellers exhausted, buyers defending double bottom. Technical seems to show hope phase is underway. This has to be supported by fundamentals and in this case; the performance of US assets - the earnings of US assets are weak/poor ebitda margins in the past and I am looking for signs that its stabilizing and not making lower ebitda margins / higher losses to confirm the bottom if you will.
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Like · 1 week · translate
cheng
Genting Singapore is expected to sharpen its operational performance at Resorts World Sentosa (RWS) following a series of senior management appointments and the completion of major renovations, according to an assessment by DBS Bank.
The report highlights the arrival of Si Chen as Chief Operating Officer in November 2025. Chen, formerly head of INSPIRE Entertainment in South Korea, is credited with steering that resort to profitability within its first year.
DBS said the executive’s experience and network could help RWS attract international events and high-value customers from markets including Russia, Taiwan and Japan. ‘We believe Chen’s appointment will help RWS to strengthen its international appeal and broaden its customer base,’ the bank noted.
Other hires, such as Lena Lee – who joined as Executive Vice President for Attractions and Destination Experience in January are expected to boost the property’s attractiveness. Previously with Universal Studios Japan, Lee is expected to reinvigorate Universal Studios Singapore, which has struggled to maintain visitor momentum.
DBS wrote: ‘Lee’s track record in revitalizing attractions is encouraging, and her leadership could be pivotal in refreshing the destination experience at RWS.’
The bank added that Genting Singapore’s renovations at RWS are largely complete, positioning the resort to defend and potentially expand market share in 2026.
It also pointed to strong Chinese New Year tourism and increased flight capacity from China as factors likely to boost gaming volumes in the first quarter. ‘With the bulk of renovations behind them, RWS is better placed to capture incremental demand,’ the report stated.
Industry trends also appear supportive. While Genting Singapore has ceded some market share to rival Marina Bay Sands, DBS said the broader gaming environment remains constructive, reducing concerns of a repeat of the sharp volume decline seen in late 2024.
The bank expects Genting Singapore’s EBITDA to rise modestly this year, driven by stronger gaming contributions, though softer hotel room rates may weigh on profitability.
‘Operational improvement is required to sustain higher performance, but early signs are encouraging,’ DBS concluded.
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Like · 6 days · translate
cheng
RAV Bahamas's legal team quit and stop representing them - PAPERLESS ORDER granting153 Motion to Withdraw as Attorney. It is hereby ORDEREDAttorneys Alexander Esteban, Robert Gallinar, Javier Angel Reyes, Armando Rosquete, Veronica Maria Vicente, and Bell Rosquete Reyes Esteban, PLLC are hereby withdrawn as counsel for Plaintiff in this case.
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Eddy Khoo
poor and weak QR coming, looking at its share price trend. possible another creative impairment just like last year.
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Man Han
大家股东大会见。。。ceo准备好了吗?
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cheng
I managed to get a small position at 2.93 for short term trade :)
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Man Han
Hailat cheng, now already 2.91.. Lucky I sold all this morning
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cheng
its alright, man han. hope it is not a big loss for you. losses are normal as long as you stick to your own trading plan. you can take a break first if you have been losing in Genting's trade or move to other counters.
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2 Like · 5 days · translate
Eddy Khoo
if qr report losses,.straight it would go down to 2.60.
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cheng
lets just wait for Thursday and we will know the outcome. I have not been looking at the net profit figure in the past but rather the net cash from ops and ebitda margins; which were dragged down by US assets.
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Eddy Khoo
looking at GenS results, possibly another bigger loss gonna be reported by GenM and Genting Berhad. similar story like back in Dec 2024.
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cheng
I think the results is consistent with the previous qtr trending - stronger non gaming and weaker gaming. The full year results has shown the exact situation. I think it's a good sign for the long term given China's gaming restrictions on their citizens.
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2 Like · 4 days · translate
cheng
It's the US assets that were dragging the group's performance with low ebitda margins which is below 30 pc. GenS is still above 30% even with the latest results.
2 Like · 4 days · translate
Eddy Khoo
be prepared for 2.5-2.6 should qr declare losses or just few millions profits as per q1 2025.
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cheng
US assets weakness is an open secret and depending on how much has Mr. Market priced it in. 2.5 to 2.6 is possible if SG and MY assets reporting real losses from the ops and a loss of cash generation; the anchor assets deteriorating if you will.
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Like · 4 days · translate
Eddy Khoo
there are some wildcards from taurx and selling of its Miami assets.
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Eddy Khoo
but knowing Genting, the selling of assets are mostly just a smokescreen as it never ever sold its priced assets beyond the mere announcement.
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cheng
the thing about Taurx is that they did not disclose the details of rfi from uk mhra. the only one that I am guessing is the peer reviewed phase 3 clinical trials paper which was published in the journal recently. So, I would say Taurx is finally making real progress towards uk mhra maa. NICE approval will be the following step upon maa approval for nhs use.
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Eddy Khoo
the last RFI response took 5 months to revert. now, by end of the month, it would be already 5 months since they published the RFI announcement back in early Oct. Should be expecting some updates soon.
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cheng
The last update by TauRx was back in Jan'26 on the phase 3 clinical trials results being published in the journal of prevention of alzheimer's disease. Agreed with you that will probably get an update by mid of this year.
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Vin Vin
Last time if get rejected..they probably will announce earlier.... Maybe still got chances to get approve...
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来都来了
all Q limit down short kaw2
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cheng
possibility of approval is higher with the peer reviewed clinical trials results, vin. possible at least a conditional marketing authorisation (CMA) / exceptional circumstances if not a full marketing authorisation. The criteria for CMA - the balance of benefit and risk of the medicine is positive, it is likely that the applicant will be able to provide comprehensive clinical data following authorisation, the medicine fulfils an unmet medical need, the benefit of the medicine’s immediate availability to patients is greater than the risk inherent in the fact that additional data are still required.
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cheng
here's the link to the paper if you are interested to read it - https://pubmed.ncbi.nlm.nih.gov/41570392/
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来都来了
pls short kaw2...no more mercy
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Vin Vin
thx Cheng for the Great info
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cheng
you are welcome, Vin. waiting for the US assets performance - RWLV and GenM's US & Bahamas ebitda margins.
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Vin Vin
Rwlv is the main reason to drag down GENT qe... rwny, gens and genm still stable
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cheng
been keeping track of their ebitda margins since 2024 and rwlv dipped from 20%+ to less than 10% and genm's US assets dipped from close to 30% to below 20%. Lots of capex spent on these US assets and to see ebitda margins below 20% is awful :( I am using SG assets 30% ebitda margins as the baseline for comparison. Need to see signs of stabilization before recovery. And to observe whether its a structural change or temporary. Not much expectation for UK markets as its smaller and didnt consume much capex.
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mrs xlg
我觉得业绩出反而会不错不要算genp被罚款了的话
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Vin Vin
有料的话,还站在below RM3 几年?。。早都RM4+
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mrs xlg
没办法因为这个是non halal
1 Like · 3 days · translate
cheng
honestly, net profit at this juncture for gent is secondary comparing to cash flow from the operations; at least until 2030 due to heavy capex requirements for GenS, O&G and committed investment for RWNYC. Capex / cash outflow from investing will rise to estimate 8 bil per year. As Is - the net cash from operations is at 7bil plus yearly.
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Anthony Teo
After son take over he love ang mo. Now genting is control by ang mo. Take money from white and give ang mo. This company is heading to Holland
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Eddy Khoo
the best approach to raise fund for the expansion in US is to list Genting America in NYSE or DJ. use back USD to fund usd investment instead of using RM to fund USD investment.
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cheng
yes, Eddy. waiting for GenM's privatisation to happen as that is a necessary step to make way for "GenUS" listing.
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Sky Liew
need money maybe want right lo
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Sky Liew
make it rm1.60
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Teh Kang Lik
Is the privatization one of the listing requirements?
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mrs xlg
wait dec privatization again
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cheng
not the listing requirements. its more to what happens in US stays in US and Gent to benefit directly from the listing. Less complicated without GenM minority shareholders for "GenUS".
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Vin Vin
let's wait for the qr....next couple of hours later ...
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Eddy Khoo
quarter sure bad. just how the market would react tomorrow. straight drop to 2.50 or how.
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cheng
nevada gaming ggr and ngc ggr showing flattish ggr comparing to q3. All is well as long as the outlook is not worsening. The 3 new casino license (including RWNYC) will probably impact ngc ggr in the future due to cannibalisation of footfall traffic.
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mrs xlg
@eddy how u know qr confirm bad dont skl la hahaha
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Eddy Khoo
@mrs xlg, 2 subsidiaries reported poor results, market not expecting good quarter looking at the share price, last but not least spent a fortune in NY license and privatizing GenM at 2.35. they could just impair the losses since now GenM at 2. not forgetting higher interests incurred.
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cheng
what Eddy meant is dont fight qr or expecting good qr. Risk mgmt is a safer bet given all the headlines. After all, the net profit from qr has been inconsistent for many qtrs; erratic if you will.
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Eddy Khoo
while your optimism is just purely on forex gain. not operational
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Jackie Tan
不要开玩笑叻 sg 因为关闭扩展影响 genp是罚钱 这些都跟core performance没关系 会不会看报告很大差别
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mrs xlg
没看业绩的啦 业绩不好一样会起飞 你看mbb
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Jackie Tan
Forex G/L 影响 depreciate, finance cost, borrowing 怎么没关系 look at income structure OK
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mrs xlg
eddy在genting做工的职位skl大师厉害自己分析
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Michael Saw
Genting Operation at profitable...when US dollar depreciate debt repayment reduce therefore paying less interest.. when u pay less interest your profit is higher lo very simple logic ya
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Michael Saw
U can look at the EBITDA
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Jackie Tan
他想着genp每个季度都回罚钱 还有sg一直关闭玩家家酒 不过也是的 sg 关闭没有好好plan牺牲很大少赚200m
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cheng
GenS gaming segment is losing to MBS. MBS is reporting record performance for Q4 comparing to GenS. Pretty obvious more people including VIPs are spending time and money at MBS. GenS non-gaming is good though.
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Vin Vin
其实很简单。。如果我年薪几亿。。我还要care 业绩起跌咩。。看看他最新的video... 他向着投资者比good... 意思是远离赌博。。
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Pinn Point369
genting counter still can up ??
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cheng
Have you been to MBS casino, Vin? Is there any difference there compared to RWS?
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Vin Vin
Cheng, I been there many times..
just to share my experience...
mbs look more grand than rws... especially the casino ..
look more high class...
rws casino ..like old unty uncle there.. the environment...like resort...
depend on which target bring u go there..
if with family... absolutely rws is a good choice... but family travel .. seldom gambling...
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Like · 3 days · translate
cheng
Ah... You preferred MBS casino more than RWS casino :) no wonder MBS is doing well. Let's see whether the new team that they brought in will be able to win back the market share that they have lost to MBS.
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Vin Vin
Hope in the future...
non gaming revenue will bring more profit... RWS really good for family travel .. especially the WEAVE mall...look great .. u can visit there if free....help to boost gens profit...hehe
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cheng
Yes, non gaming is solid with the upgrades. See whether the new team can bring in more VIPs since The Laurus has been launched. Maybe they have to upgrade the casino too to match the VIPs
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Vin Vin
The only way to help Genting Is hope u.s more rate cut and usd depreciated...
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cheng
My personal preference is scale down US ops; Bahamas, Hudson Valley and Catskills
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Eddy Khoo
mrx xlg, congratulations to you for your great results!
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lucky888
肯定害人,体现在30年以后,新股东都是难民
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Eddy Khoo
already suspected that the boss would use the similar approach to squeeze down the price. the question is why? some said he might want to privatize Genting Berhad as well. tomorrow probably straight down to 2.50 and next week would be touching around rm2 if history repeats itself as in Feb/Mar 2025.
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Anthony Teo
GG. COM......


BBQ........

TAKE GOOD CARE.
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Yap SK
lucky888 云顶派股息的钱2个亿,是从云顶大马股息转账来的。。。
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cheng
fuhh... boss is worried of rowdy AGM and hence decided to give 5 cents dividend for Gent and 7 cents dividend for GenM? Overall leisure and hospitality segment for Gent group showing softer revenue for q4 comparing to q3 except RWLV which is higher than q3. UK assets is a surprise comparing to q3fy25 and ebitda margins is better than the US segment; >20% impressive if you will. RWLV ebitda margins inching up comparing to q3fy25 but not significant enough still below 10%. Catskills, Hudson Valley, Bahamas and NYC same2 below 20% still. Its still the US assets dragging.
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Eddy Khoo
cheng, now you know what I have been saying that the boss could use creative accounting and impairment to deliver poor results. The question now is why he insisted in doing so for the past few years. what is he aiming for?
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1 Like · 3 days · translate
Daniel
Total borrowings will continue to spike up. When company goes on debt binge, ratings will drop and financing will get even more expensive. Returns vs risks have to be lucrative to justify huge overseas investments. GenS huge CAPEX due to licensing extension conditions although adequately financed by ROI over the years.
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1 Like · 3 days · translate
cheng
I have no idea what he is aiming for but here's my perspectives which could be wrong based on the numbers, Eddy. The boss is telling the funds/insti that he is managing the situation and within control. Lol, no pun intended. Here's the logic - GenM nosh is at 5938.04 mil and 7 cents dividend translates to 415M payout. But Gent owns 73.13% which means 304M goes to Gent and 111M goes to minority shareholders. Gent nosh is at 3876.90 mil and 5 cents dividend translates to 194M. Gent is receiving 304M but paying out 194M and keeping 110M. (1) 1st message is probably to tell the funds/insti that he is strengthening Gent's balance sheet. Now, its an open secret that Gent's capex requirements for the next few years will be high and RWNYC table games is targeted to go live sometime mid of this year. There is the situation of the timing of capex needs (outflow) versus prospects of recovery from RWS / RWLV / contribution from RWNYC table games (inflow). (2) 2nd message boss is probably hinting to funds/insti - Stay with Gent and I am retaining the cash within Gent and managing the cash flow of the group. Boss is paying out modest div but conservative to maintain investors confidence given the capex needs timing; manageable if you will.
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3 Like · 3 days · translate
Jackie Tan
是的 cheng 这次股息派发打脸市场 明天留意投资银行的报告
1 Like · 2 days · translate
mint 1123
没办法,covid 2026来袭。genting业绩不好....
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Paul Paul
taa daa......lol
我都不想说了,哈哈哈
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Daniel
Current share price is already lower than during financial crisis period of 2008. With so much hatred for the stock, it will be price accordingly over time. Will it head towards the share price during financial crisis period of 1998, if aggressive US investments go awry :-|
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1 Like · 2 days · translate
Paul Paul
对晕顶来说,天天都是covid天
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Vin Vin
他的手势在初9 比“Good" 。。我现在知道什么意思了。。。 对着投资者“代你死” 没想到连福建人也骗。。。
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Anthony Teo
Don't believe ah tai will give you anything. He wants only your money.
Run before you get trap.
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mrs xlg
eddy mana 2.6?? 那么安静的没出来吠了啊
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Eddy Khoo
yesterday u missing mana? where s your profit n rm3? still dare to bark here. keep some face and admit your wrong. it s ok not to be correct all d time and don't bark around telling me skl. set a better role model to your next generation..l
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mrs xlg
做么没大跌的??不要skl了啦你哈哈哈
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Eddy Khoo
u should ask why no profit? why no 3.3? not why no 2.60. If you wanna know why, pay some consultancy fees. don't skl skl here like a mad person. wanna skl, go up genting and bet all on the casino table and shout all the picture picture skl as u want. I wish u ham ka fu guai in Genting
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mrs xlg
你没读report吗?
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mrs xlg
吹牛你就厉害啦 2.6= =
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Mycall Sow
冷静点,不要吵了啦!股市哪有谁对谁错的,吓死宝宝了。哈哈哈哈哈。
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Eddy Khoo
enlighten me on your findings in the report since u already analyze it and understand it why no profit and why no forex gain as what you have been hopeful for. don't just skl skl all d time. I gave u my opinions on why won't have good results and it appears to be true but u just gave me skl. nothing else
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Anthony Teo
Ini getting now look like yen tai pui dan na.
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cheng
cooler heads prevail
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Vin Vin
Yesterday coo of genm announced that RWC had been sold , what do you think
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cheng
Is it confirmed? If the previous announcement which is selling of the non-gaming assets to Sullivan County and how Empire plans to use the proceeds remain the same, then, it is definitely a GOOD news, Vin. Here's the logic - Empire has a 300mil bond expiring end of 2026. The proceed from the sale (~525mil) can then redeem the bond. And the previous announcement mentioned that Empire will buy the land outright from EPR properties and becomes the land owner for 200mil. Balance proceed will be around 25mil. These transactions strengthen Empire's balance sheet; reduce debt, lower interest and get to own the land.
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Michael Saw
May be internally Edi settled but to confirm need to wait announcement
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Vin Vin
EPS has been skewed to the positive by the ‘asset-light’ sale-and-leaseback of Empire Resorts’ non-gaming properties, while being negatively impacted by license costs.

So perhaps shareholders shouldn’t read too much into the Q4 EPS,  or at least be aware of the noise. GENM sold a golf course and hotels for $525 million (RM2.2 billion).
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Michael Saw
It is good news, bad result let drop 1-2 before new high again
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Vin Vin
look at genm..
2.10..
next qe will look more stronger...
forex gain and without impairments loss
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cheng
thats the difficult part with Gent's corporate structure, Vin. hundreds if not thousands of companies :) Not easy to see what's going in Empire. The link seems to be the only source talking about it. Gent owns 73.13% of GenM and that means a higher profit/loss attributable to owners; flowing into Gent if you will.
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cheng
3 safe months to trade until the next qtr report. Let's see how the numbers looks like for SG and MY assets from the festive footfall traffic.
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