Sell @ $1.51
Hit my target, cleared my last lots. Need to focus my free cash on a few other of my stocks which are getting cheaper by the day. 😀
Genting @ $1.48
Sell @ $1.48
Today's the AGM, +5.5ct for no reason! My sis-in-law attended the AGM and the only feedback she gave was the lousy food (packed lunch box with packet drink, no hot tea/coffee) + 1 shareholder harrassing CEO during & after AGM.
Scary to see it drop below $1.40 previously and the high volume of Short Selling every day. Cleared my last 2 buys today, left with the original 1st buy. Can sleep better now as I bought a lot more during the 2nd & 3rd time. Q1 results will be out on 2-May, will try to collect back some before that if prices drop. Will sell my last lots if it goes above $1.50. 😀
Genting SP @ $1.44
Buy @ $1.44
Finger itchy, went to Jump-Q at 5pm when I see many sellers at $1.44. Starting to see many negative analysts' reports due to their bigger than expected Impairment Loss (Gamblers on Credit who'd run away – China nationals are almost impossible to bring to court due to non existence of extradition agreement with China) + Higher Trade Receivables (Gamblers on Credit not yet paid). Looks like another stock turning into long term… 😀
Genting SP @ $1.4613
Genting SP @ $1.485
Buy @ $1.485
A new stock to my current portfolio. Got interested after going to RWS during the March school hols. Compared to our previous visit a couple of years back, the whole place was very crowded. All the 3 attractions (Universal Studios, Marine Life Park, Adventure Cove) was packed with people. No complaints about USS as only one queue was >15mins (surprisingly a simple kiddie ride). For the other 2, perhaps because it's still newly opened, the crowd was quite terrible – not as enjoyable as USS.
Even at the hotels, I noticed many tour groups gathered at the hotel lobby. The luxury products shops, which I'd observed to be empty the whole day during my previous visit, was packed at times, likely by the tour groups. I didn't check out the restaurants this time as there're now cheaper alternatives, like Malaysia Food Street, which was usually rather packed. Even noticed convetioners (from AIA Thailand) were redeeming vouchers there for their dinner.
The whole overall experience was still rather enjoyable.
Coming back (to earth), there was coincidentally an article by TheEdge. In summary,
- EPS Big Drop in FY12 as the Novelty Factor is Gone
- FY10 = 5.38ct / 0.3ct if Incl. Discon Biz
- FY11 = 8.4ct
- FY12 = 4.81ct / PE = 30.87 @ $1.485
- Div = 1ct for FY11 & FY12 / Yield = 0.673% @ $1.485
- Cash = $4.38Bil vs Debts = $2.7Bil
- Growing Non-Casino Biz (Revenue)
- FY10 = 12.59%
- FY11 = 15.74%
- FY12 = 18.94%
- Successfully tendered for a plot of land at Jurong Town Hall Road to build a Hotel (ready by 2015)
- Casino License renewable every 3 years (renewed last year)
So, definitely not a Yield Stock. Not a Growth Stock either as EPS dropped due largely to declining margins from 31.64% (FY11) to 23% (FY12). EPS is largely determined by the Casino operations and in this segment, mainly from the High Rollers.
So, why buy?? I'm expecting Q113 to see some improvement, hopefully, at least +10%. Will evaluate again after Q113 results. In the meantime, my entry is a bit high as PE = 30+. Will likely buy more to average down if it drops, but won't be too aggressively. 😀
Genting @ $0.38
Sell @ $0.38. Alloted fm IPO @ $0.35, only applied due to strong recommendations fm TC. Decided to sell after reading post in forum by David that RNAV is $0.25.