Singapore Stock Market News

Genting Singapore - Reassessing Jeju

StockFanatic
Publish date: Mon, 16 Jun 2014, 11:04 AM
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Our channel checks show that it could be a challenge to change the designation of the land earmarked for the Jeju JV. We have therefore decided to remove its NPV valuation and cut our RNAV-based target price. Our EPS forecasts are unchanged. We remain optimistic about GENS's chances in potential Japanese liberalisation, which is a key catalyst. If the current political situation between Japan and China is protracted, it could give GENS and US companies an advantage.

The Genting group will also be the only Asian company with a US$4bn Las Vegas IR and we believe its US and global presence will invariably help its chances in Japan. Maintain Add.
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