Jack Sparrow's comment on GENTING. All Comments
Jack Sparrow
8 Like · Reply
No need wait right issue, soon can buy the 1.30 price in klse alrd
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Yesterday · translate ·
Eddy Khoo
depends if the boss gonna cover his own ass to protect his margin call. he would lose control of Gent if his pledged shares are forced to sell by the banks.
1 Like · Yesterday · translate
cheng
shareholders will still need to decide later to subscribe or renounce the rights.
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Tteffub Nerraw
Cheng...say like no say.
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Eddy Khoo
cheng, before that happened, I think the boss probably covering his margin since the share price dropped below rm2
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Tteffub Nerraw
margin call probability how much?
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cheng
the boss dont have pledged shares directly but at Kien Huat Realty. If I recalled correctly the pledged shares of Kien Huat is not much and has reduced based on annual report 2025 versus 2024; probably left with ~300mil. need to verify that again.
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Like · Yesterday · translate
Eddy Khoo
last time calculated around rm2 - rm2.20 would trigger margin. now at 1.50, for sure already triggered. the boss must be now digging his underwear for extra cash to cover.
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Eddy Khoo
the last time I checked reported around 30%++ pledged shares.
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cheng
30%+ pledged shares held by Kien Huat Realty? thats a lot.
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Eddy Khoo
this is why I been saying the boss must protect his margin call or else he would lose control of Genting.
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cheng
its 8.3%, eddy. 320mil based on annual report 2025, #2 in the list of top30 shareholders
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Vin Vin
last year after budget ... announced want to takeover genm... one year later .. announce right issue again...
lkt doesn't care genting share price ?
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Tteffub Nerraw
30％ pledge.....
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Eddy Khoo
8.3% out of total shares issued or 8.3% out of kien huat holding?
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invoker
云顶的股东们还好吗……
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cheng
320mil out of the total shares, eddy. the rest of kien huat holding are non pledged shares.
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Eddy Khoo
the rights issue is not to trigger MGO since the total holding already 45%. they just want to buy more shares with discounted price but can't do private placement as majority shareholders can't subscribe. and if buy from open market, would pump up the price easily. so best is to issue right and depress the price further.
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1 Like · Yesterday · translate
Eddy Khoo
question is how the boss gonna cover his margin. he would need to spend more on that. probably he bought a lot of put warrants via his proxies. we never know. so even the price depress, the boss still earn
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Like · Yesterday · translate
cheng
the jump in short term borrowings from Dec'25 to Jun'26 and the money spent to attempt GenM privatisation in a way limits the capability to absorb/redeem maturing bonds/MTNs, Vin
Like · Yesterday · translate
cheng
it was approx 3bil spent to increase the shareholding on GenM to above 70%. The spillover from Gent's rights announcement will probably provide opportunities for Gent/the PACs to acquire GenM from the market towards the min 75% mark?
Like · Yesterday · translate
Eddy Khoo
probably they already buying GenM now to complete its acquisition and privatization
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cheng
Gent's positive rerating will be dependent on RWLV, RWS, RWNYC and RWG recovery - higher ebitda and margin; the four largest assets by net book value of its properties. The GenM privatisation until it actually happens, will path the way for US assets listing.
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Like · Yesterday · translate
Eddy Khoo
from rm2.35 offer price to now rm1.3, it s a steal to acquire more share and privatize now
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cheng
Current market price for Gent is too tempting. Originally wanted to wait for Q3 results to decide but market actions trying to influence/change my decision for Gent :) will observe and see whether market price will test the 25% to 30% range from Friday closing price; the first announcement for rights issue. Will consider to add some if it arrives to round up my position for the ease of rights calculation.
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Like · Yesterday · translate
Vin Vin
seem like right issue price will be RM1 or lower
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Yang Yang
不要算，越算越低…算债务怎么还比较实际！哈哈
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Yang Yang
1.10～1.20啦！再去算算一下，除非泰爷真的出事，不然差不多啦！
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Man Han
老板就是不要推好消息来稳住大家。。
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Yang Yang
debt service charges不耐…所以这里调，那里借！注定的！那里又加息，这里也快加息了！OMG...My Ghost
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Yang Yang
推不了好消息，等下消息是有漏洞的…更恐慌，已经很低了！恐慌情绪会骚动投资者的心情…！！
Like · Yesterday · translate
cheng
Will have to wait for approvals and then price fixing. Boss wanted full subscription basis and at 25% to 30% discount to TERP. Dilution and flushing out some shareholders.
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Yang Yang
你说对要稀释后回购，可是他年事已高！很多事情控制不到位了，他的儿子也不是省油的灯！儿子都有故事的，所以未来接班人都是问题
Like · Yesterday · translate
Eddy Khoo
don't be over confident that the rights issue will go thru. at any time the management can cancel it citing an unfavorable market. prior before that they may have acquired 3-4% from open market at low price.
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Lim Ka Keat Daniel
Eddy, they can’t buy more than 2%, or else trigger MGO
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Tteffub Nerraw
Cheng, can you check whether the land is still there, or has it gone underwater already? 😂🌊
1 Like · Yesterday · translate
Yang Yang
我是完全对他们没信心，所以才会一直强调债务怎么还？他给答案了，借贷来还！哈哈…
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sabrina lim
Chance of lifetime Juz close eye buy
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cheng
Cheapskate if the mgmt cancel the rights issue at a later date, Eddy. Most likely it will go through due to the huge discount to TERP :)
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cheng
The rights issue is expected to complete by q1'27. If mgmt initiate a second rights issue or pp thereafter instead of dispose non core assets assuming RWLV, RWS and RWNYC recovery phase stalls, market will sell it down again and will go below 1.00
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Like · Yesterday · translate
Tteffub Nerraw
按照 Cheng 的策略，他应该不只是持有 100 lots，而是每年买进 1,000 lots！如果连续 5 年都这样操作，累计下来就是大约 5,000 lots！

如果按照目前的股价和买入成本来计算，账面亏损可能高达 RM909k！😱

如果股价一直跌，DCA 真的能解决问题吗？还是只是越买越多，账面亏损也越来越大？😂

😂 各位股友，有谁想知道 Cheng Teacher 的平均买入价是多少吗？🙋‍♂️

来来来，大家猜一猜！如果按照他那套 DCA 策略一路买下去，平均成本到底摊到多少了？🤣

Cheng Teacher，要不要公开一下你的 average price，让大家开开眼界？别只讲策略，也让大家看看实际成绩单哦！🍿😂
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Like · Yesterday · translate
Raymond Fah
用你们的钱来还债。。。
他的钱就吃利息。。。
买马股。。。买难受。。。买香菇
Like · Yesterday · translate
Kyory Lau
Wow.. 很久没回来看了. Cheng RWLS, Empire, Miami 地, Egypt gaming 等如果能卖是最好. 但是我不觉得他们想卖, 尤其是 RWLS for branding and world appearance. 现在不赚钱也无法能卖到好价格!

其实如果他们只是集中在大马, 新加坡,纽约和英国因该不错的. 但是看来他们什么都想要也做不好才死!
1 Like · Yesterday · translate
Eddy Khoo
don't you think this is a properly timed maneuver by the boss? critical window for taurx announcement, Dec timeline for the takeover offer and also Q3 results in Nov. all just merely for a rm800 mil debt pare down while wiping off rm2 bil market capital in gent alone. yet to factor genm market capital.
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1 Like · Yesterday · translate
Tteffub Nerraw
所以我才叫 Cheng 去检查一下，那些土地和资产到底还在不在水面上，还是已经沉到水底了？😂🌊 难道发生大水灾，全部被水淹没了？最好先去实地检查一下资产还在不在，impairment test才来谈它们的价值啦！🤣
Like · Yesterday · translate
Eddy Khoo
I don't believe it just purely a simple right issue. more like looking at it as an integrated valuation-suppression and capital-reorganization mechanism from the cheapskate boss.
1 Like · Yesterday · translate
Tteffub Nerraw
股东们，准备好了吗？还债大考即将来临！

2026年11月，Empire Resorts 有3亿美元债券到期；2027年1月，GOHL Capital 仍有6.17538亿美元未偿还票据；2027年3月，Genting RMTN 有4亿令吉 MTN 到期；2027年6月，Genting Capital 更有15亿令吉 MTN 到期！

短短几个月，接连面对多笔大额债务，到底靠现金流偿还、再融资，还是重新安排资金？当然，这些债务属于不同集团实体，不代表全部由 GENT Berhad 直接承担。

股东们，别只顾着看股价啦！ Genting 到底能轻松过关，还是债务账单会给投资者带来惊喜？接下来就看它怎么出牌了！
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1 Like · Yesterday · translate
cheng
welcome back, kyory :) US assets, rws and rwg (malaysia) net book value for the land & resorts is at ~38bil from the total 47bil. RWLV, RWS, RWNYC and RWG will be core assets for the leisure and hospitality segment.
Like · Yesterday · translate
Tteffub Nerraw
哇！😂 等到债务到期了，才来讲卖土地、卖资产来还债，好像几分钟就能搞定这样！有那么容易咩？

问题是，有买家吗？人家愿意出什么价钱？交易需要多久才能完成？

如果真的那么容易卖，早就卖掉了啦！🤣 资产账面价值再高也好，卖不出去、变不了现金，到期的债务还是要还的哦！💸
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Like · Yesterday · translate
cheng
peak season/summer holiday in terms of tourist arrivals in SG and US for Q3 performance. Will be interesting to see how RWS, RWLV and RWNYC are doing.
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Raymond Fah
新加坡美国就算赚钱
也是不会拿回来啦！
1 Like · Yesterday · translate
Eddy Khoo
can't wait what s the boss would do to achieve his goal of delisting GENM at all cost.
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cheng
the first trigger will be the 75% threshold / 25% public shareholding spread requirements for GenM
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Lim Ka Keat Daniel
LKT has said that it’s not their intention to privatise GenM during AGM
1 Like · 23 hours · translate
Eddy Khoo
he also said he s the warren buffet of Asia..do u believe him? take his words like a pinch of salt.
Like · 23 hours · translate
Kyory Lau
Lol.. warren buffet of Asia to con shareholders..
Like · 6 hours · translate
Kyory Lau
https://www.klsescreener.com/v2/news/view/1808181
Like · 6 hours · translate
cheng
sell non-core assets as we discussed yesterday :) Not surprising there are doubts on the actual purpose for the 1.25bil rights issue :) and the boss will contribute slightly more than 500mil into the 1.25bil bucket. Likely to see some shareholding changes once the rights issue exercise is completed.
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Like · 6 hours · translate
teikchye kee
@Kyory Lau betrayed us...hahaha
Like · 5 hours · translate
Kyory Lau
Uncle you are not belong to here.. you are glove members.. haha.. now all goes for US stocks liao.. still in KLSE
Like · 5 hours · translate
Eddy Khoo
no need investment bank or analysts to tell us. we also know that it needs to sell assets to pare down debts. however if look back the past 3 years, Genting boss refused to sell assets even though there were some MOUs and arrangements of selling Miami Land and Catskill which both also got cancelled by Genting.
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Like · 4 hours · translate
cheng
consolidated cash and non cash assets ~100bil assuming its unrestricted. 18bil cash, 47bil net book value of physical properties held while total debt at 45bil. 1.25bil rights issue which will help to save interest of 40mil to 60mil in the next 12 months at the back of 25% to 30% discount to TERP price :)
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Like · 4 hours · translate
Vin Vin
I believe share price won't move much until RI is completed
Like · 1 hour · translate
cheng
Seems to stabilise now though I was expecting it to fall into 25% to 30% from Friday closing price. The next price movement will be during price fixing, ex date.
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Eddy Khoo
no need to wait RI completed but after price fixing.
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Eddy Khoo
cheng, can't use last Friday price as reference price as gent share price has fallen a lot this year.
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cheng
Announcement effect, Eddy :)
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Vin Vin
what if RI price fixed but mother sudden shoot up :)
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cheng
Price fixing / ex date effect, Vin :)
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Vin Vin
ok understood! thx ! pity for those who bought at RM3-4
Like · 1 hour · translate
cheng
Yeah. And the boss mentioned it clearly 25% to 30% discount to TERP on a full subscription basis. Market reacts accordingly.
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PANORAMA
Unable to get the valuation for sale of assets. If they can get the valuation, I am sure they will even divest GenS.
Like · 59 minutes · translate
Vin Vin
no choice.
need to take the RI to average my price... hope In the future..can hit up to RM3 :)
Like · 57 minutes · translate
Eddy Khoo
I'm waiting for today sbb announcement again on genm. the boss is slowly acquiring genm at low price using sbb
Like · 57 minutes · translate
Vin Vin
Eddy any idea sbb on genm ? possible another privatise ?
Like · 50 minutes · translate
cheng
If it happens, GenM will announce not meeting 25% public shareholding spread.
Like · 37 minutes · translate
Vin Vin
Cant imagine genting drop more than 60% in 1 year plus
Like · 29 minutes · translate
Lim Ka Keat Daniel
GB has no financial power to privatise GenM now la
Like · 15 minutes · translate
cheng
Depending on how badly the boss wants to list the US assets. GenM privatisation will have to be completed to make it easier for restructuring into the new entity.
Like · 3 minutes · translate