agreed with Vin. Additionally, if you look at the q4 report, Gent spent 3.26 bil to buy out GenM's 2.89 bil nci and didn't even meet the min 75% threshold at the close of the mgo. Definitely not easy and not cheap to privatise Gent.

not necessarily must be successful takeover. it could be just a tactic to accumulate back more shares at discounted price..just like GenM. the bosses could easily push up to 75% holding from 73.3% but they stopped and ghosted all d strategic plans for now and remain silence for the past 4 months.

next, genting berhad dropped from 3.50 to 2.20 now since the takeover offer of GenM and the eerily silence for the past 4 months. be reminded that NY casino will start operation in June and Taurx is expected to get the decision from UK MHRA within the next 3-4 months.

total value for equity holders from q4 report is 29.68 bil and market cap right now is 8.6 bil. The market is in the opinion that it is unable to generate good returns from its assets / high reinvestment rate; capital misallocation if you will.

they are also heavily on thematic stocks, jackie. as for the performance, they have analysts working for them and they will ask questions during investor briefing; most of the time forward looking statement/clarifications if you will. After all, they have access to the mgmt that retail investors dont. As for the recent drop, we should not rule out the possibility of investors' margin calls and being squeezed out since there are no corporate actions or announcements.

Both parties ghosted and missing in action - The Sullivan County IDA and Resorts Facilities LDC held a joint meeting on March 31, 2026. During the public comment period, I asked the IDA/LDC board and staff what was the status of the Resorts World Catskills transaction. After a pause, several persons stated that they “have no information” about the status of the transaction, without further explanation or elaboration.

打不完的战。。。。
【Iran: Ready for Long-Term War】According to the Iranian Students News Agency on the 9th, an Iranian military spokesperson expressed hope for an agreement in the ceasefire negotiations but stated that if the negotiations fail, "we are also prepared for a long-term war." Iran's proposed conditions will be the basis of the negotiations. (Xinhua International

the conflict dampens the sentiment and is just one small factor in the ticker movement. It is probably something else that is keeping the downward pressure on the ticker since Aug24, and the boss/insiders have yet to make a move. Why should we make a move when they have yet to do so?

its fishy the fact that boss/insiders did not make a move despite the huge conglomerate discount. Empire's 300 mil bond expiry is a high risk as no news on the deal. How will GenM fund the 300 mil or will GenM use the opportunity to restructure empire through default/bankruptcy? Continue to stay away and be cautious.

it will be a new low for the mgmt if they were to opt for the default/bankruptcy route for Empire, jackie. How they have transferred the stakes from Kien Huat to GenM and to end up defaulting. RWNYC higher licensing fees and taxes for slots & table games too.

Empire will not be able to redeem the 300mil bond as they do not have the cash to do so. The money has to come from GenM and Gent if the mgmt decides to continue holding it. Catskills and Hudson Valley are just 45 mins apart and cannibalisation of footfall traffic is a norm. Unlikely to see growth in these assets.

RWNYC getting ready for the phase 1 launch with dealers training in progress it seems - Resorts World announced plans to be the first casino in New York City and the first to offer live-dealer tables. It is backing its announcements with concrete actions. As I walked into the lobby, one of the first things I noticed was a very busy hall full of people huddling around about a dozen game tables of different kinds. But I noticed they weren’t gambling. The sign on the door made it clear to me; it read “Dealer School.” https://cdcgaming.com/commentary/inside-americas-casinos-stop-1-new-york-city/

Previous estimate was first drop end of this year but there are reports in O&G news that Wison will deliver the FLNG by Q1'27. That is the FLNG part; the LNG production; midstream if you will. Two other parts - (1) the onshore Kasuri block facility readiness for gas extraction status is unknown; upstream (2) didn't see any announcement from Genting on the gas sales agreement/contracts with international buyers yet; saw some news on on-going buyers discussion though.

Realistically, it should be by 2027 since FLNG will be delivered by Q1'27 assuming the other two parts are on-going concurrently and no delays in all 3 parts. May want to take note of the capex requirements for the upstream gas extraction facility readiness too. However, Genting has PsC with Indo gomen and it has cost recovery mechanism in it - Genting can recover the capex cost and balance profit to be split with Indo gomen.

First drop was initially targeted by this year, Vin. But I saw Wison's news on delivery of the FLNG by Q1'27. Hence, I believed it will only be possible to have the first drop after the delivery of the FLNG and assuming the onshore facilities are ready too.

Extracted the update from the last qr report - The construction of the onshore gas processing plant is continuously facing some challenges due to the remote location. This gas processing plant will offtake the raw gas from the upstream Kasuri block and process to treated gas which will be sent for further liquefaction process in the floating liquefied natural gas (“FLNG”) facility located 7 kilometres away from the shore. The construction of the FLNG facility in China shipyard is progressing as per expectation, achieving slightly more than 70% completion of construction to date. The project financing discussion with a group of regional and international lenders are in progress, pending the GSA, which is targeted to finalise in 2026. The Group has an arrangement with an established international third party to explore and pursue future business opportunities within the energy sector

GSA is the easy part, Jackie. The tough one will be the onshore facilities. Imagine gas extraction facility onsite (onshore / land) and then extracted gas to be routed from the site to the FLNG offshore for liquefaction via long piping passing through land and ocean. As for Catskills, can you share the news of confirmed not selling? What I saw is just Empire is negotiating with a US bank to secure refinancing for the 300mil bonds expiring this year. What it meant is that the bond will be redeemed using the financing from the US bank.

Empire and its affiliate, Genting New York LLC ("GENNY"), are in the process refinancing the obligations secured by the Prior Mortgage pursuant to a Credit Agreement among Empire, GENNY, Wells Fargo Bank, National Association ("Wells Fargo") and certain other affiliates of Empire and GENNY and the lenders party thereto (the "2026 Refinancing"). Up to $300,000,000 of new credit facilities to be obtained in connection with the 2026 Refinancing will be secured by one or more leasehold mortgages to be granted by MOC, ERREI and ERREII in favor of Wells Fargo, as collateral agent for the benefit of the lenders, on RWC (the "New Mortgage"). https://www.sullivanida.com/wp-content/uploads/2026/04/IDA-Agenda-Packet-4-13-26.pdf

I dont have any position in Gent at the moment, Jackie. Will not receive invitation to the AGM :) The problem with the mgmt - they dont communicate timely and kept shareholders in the dark. Retail shareholders will have to comprehend the latest status from external sources / information from the web.

I can understand where you are coming from, jackie. I do not think sales agreement is the difficult part as long as Genting has the gas ready and pricing/timing is right for Genting and buyers. The biggest challenge is still getting the gas ready. Genting being Genting - you can expect the timeline to keep changing. Lol, no pun intended.