Singapore Stock Market News
Genting Singapore - Selling Echo stake
StockFanatic
Publish date: Thu, 20 Sep 2012, 08:52 AM
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Welcome to Stockfanatic Singapore stock market and regional market news. This is a platform to share Singapore stock market and regional news to investors / man in the street. Investors can also look forward to analyst reports and brokers recommendations. Stockfanatic's Singapore stock market and regional news blog, home of investors one stop news station.
Genting Singapore (GENS) has put its 4.8% block of Echo shares on
sale indicating that it no longer has any strategic intentions into the
Australian market. This is positive news as investors could not
appreciate why GENS should be involved in this initiative.
No change to our forecasts and our
RNAV-based target price. Outperform
recommendation is maintained. Key
catalysts are the recovery in the VIP
business following the contraction in
2Q12 and the licensing of more
junkets to provide credit.
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