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

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.

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.

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.

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 :)

Not sure about other options but there's one side door way which is through SPAC merger but unlikely for the boss to go that route. Another route is how MI list its SMBU segment in Singapore but it will be more complicated for Genting bcos RWLV is parked under Gent, RWLV LLC while the rest of the US assets are parked under GenM. The company structure is complicated in layers. RWNYC new casino license plus bil dollar expansion story will be a more compelling story for listing in the US rather than RWLV recovery story or Catskills/Hudson Valley/Bimini Resort:)

The Proposed Rights Issue is subject to the following approvals/consents being obtained from: (i) Bursa Securities for the listing of and quotation for the Rights Shares to be issued pursuant to the Proposed Rights Issue on the Main Market of Bursa Securities; (ii) shareholders of GENT at an extraordinary general meeting to be convened; and (iii) any other regulatory authorities and/or parties, if required

its the rights issue announcement effect now aka the stock price behavior / reaction upon rights issue announcement :) The Board intends to fix the Issue Price at a discount ranging between twenty five% to thirty% to the TERP based on the five-day VWAP of GENT Shares preceding the Price Fixing Date (rounded to the nearest whole sen). The theoretical ex-rights price (“TERP”) of GENT Shares based on the five-day volume weighted average price (“VWAP”) of GENT Shares preceding the Price-Fixing Date. The issue price of the Rights Shares (“Issue Price”), entitlement basis and entitlement date (“Entitlement Date”) for the Proposed Rights Issue have not been determined at this juncture and will only be determined and announced by the Board closer to the implementation of the Proposed Rights Issue in order to provide flexibility to the Board.

Normal adverse reactions as the rights issue solely for loan repayments and working capital instead of positive expansion plan. TERP could be very low based on 5-day VWAP Price Fixing. In addition to this rights issue, they will still need to pare down on their borrowings via non core asset sales as soon as possible in order to rollover their existing short term borrowings.

prices can go up and down.No body can predict the weather what more.the market.? if a sifu can predict the prices, why tell others?Be quiet and buy and sell and make money yourself!So smart , can be rich! NEVER believe in Sifu!
So much guess work. Full
of gas!!!!
Any fool can give his opinion.
Analyst, soothsayer. magician! All sort of characters, GASBAGS
Just try your luck! who knows? lucky pick!

only the boss knows the intention of making such an announcement at this juncture - full subscription basis at such discount. And the boss made it a full subscription basis - someone else will buy the rights renounced by shareholders.

Uncle see this Siew Hock Huang must be a newbie. Look at all the true superinvestors and even traders they share their picks and knowledge freely sharing does not diminish our returns one look and Uncle already know this Siew has a scarcity mindset like all the failed traders where they think only in terms of win-lose.

Hope all Uncle followers learnt something today how u think shapes your investment decisions n if follow the Legendary Uncle Wong u too can be a superinvestor it is free forever

Bursa query on the huge discount and the reply from Gent - discount is intended to enhance the attractiveness of
the Rights Shares, encourage shareholder participation, reward Entitled Shareholders for their
continuous support of the Company, facilitate a higher subscription level and improve certainty
of raising the Intended Gross Proceeds.

Useless to stuck money this counter will took very very very ling time to recover. Be prepare to stuck money for long time which increase the risk factor due to Low revenue growth but high speed debt growth . Meaning Low and long time for return but high risk .

Probably we should expect to see more actions from Genting New York LLC the commercial gaming license holder for RWNYC. The funding for the 5bil expansion kinda secured after all. https://www.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3591376

The Undertaking Shareholders have confirmed that the subscription for their respective entitlements of the Rights Shares pursuant to their Undertakings, will not give rise to any mandatory take-over offer obligation under the Malaysian Code on Take-overs and Mergers, 2016 (“Code”) and the Rules on Take-overs, Mergers and Compulsory Acquisitions (“Rules”), including any amendment that may be made from time to time and any re-enactment thereof, immediately after the completion of the Proposed Rights Issue. They further undertake to observe and ensure compliance with the provisions of the Code and the Rules (including any amendment that may be made from time to time and any re-enactment thereof) and will seek the necessary exemptions from the Securities Commission Malaysia from undertaking such mandatory take-over offer, if required.

extracted the above statement from the rights issue document and seems that the boss wanted to increase his Gent's shareholding without triggering MGO which is driven by the creeping rule - acquiring by more than 2% in 6 months. Hence, the boss will keep his acquisition to a max of 2% every 6 months for now until the completion of the rights issue.

the excess rights, daniel. the boss is buying from open market currently and if the boss is also applying for the excess rights, it may trigger the creeping 2% rule. The statement - will seek the necessary exemptions from the Securities Commission Malaysia from undertaking such mandatory take-over offer, if required - means that the boss can increase beyond 2% during the rights issue period :)

his intentions are obvious:
1. to avoid MGO but at the same time to increase his holdings
2. to pay the minimal price to acquire more shares for controls
3. to use the RI as a tactical move to achieve the above. all those pare down debts etc are just standard scripts
4. by controlling 50% and above of gent, he would be in absolute control for more decisions and plan next

to achieve these, he willing to spend around rm300 mil (estimated) to cover his margin call, another rm600 mil for the RI and lastly bearing with the total market capital losses of rm4 bil ++ for both Genm and Gent combined.

Market losses will be “temporary”. Genting Group needs to defend their lowest investment grade rating at all cost. Rights issue (Undertaking by major Shareholders and fresh capital injections) necessary as the additional Capital injections might ensure no rating downgrade to Junk status.

whether we agree or not, all these are properly timed now. it should have been executed earlier this year if genm was successfully delisted in Dec 2025 but it wasn't and that delayed their plan for US IPO to raise the fund for NY casino development. Now with both GenM and Gent needing to bear such a massive capital injection, all the downgrade ratings came which raised the borrowing cost.

4 majors announcements would come by Dec,
1. decision on taurx
2. new takeover offer for GenM
3. full Q3 results from NY
4. full Q3 results from SG after all the opening of new attractions and hotels. remember that they have mentioned significantly better June in their last QR. so whether that would further improve and reflected in July, Aug and Sept.