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Most welcome Cheng. As always hope the best for Genting. Hopefully GenM able to sell off Miami assets and successful secured the Alzheimer's drug FDA soon..:)
Gent survived the MSCI index May review which is a good thing; exposure to foreign funds/institutions. The board has to work harder to keep its status in the MSCI index :)
Gens results is ok for me personally :) 2% top line and bottom line improvement compared to q4'24. q3 is the one to be watched closely with Laurus launching and bookings starting in May; recovering from the hotel room capacity disruptions. US assets - not feeling good about it. Catskills numbers not so good for q1 compared to q4. The strip area has a mixed performance for q1'25. RWLV q4'24 single digit ebitda margins and q1'25 maybe a challenge. Will need at least 6 to 9 months to measure the results/performance of the new board put in place in q4'24.
yes, Vin. Will continue to hold Gent and consider adding after each qr results if the numbers are decent. My current avg is ~3.4 and I didnt see anything from the last financial results that warrants me to exit; from ebitda and cash generated from ops if you will. After all, i have just bought it less than a year. I will reduce my position if the cash generated from the ops dips below 7bil per annum or two consecutive qtr achieving below 1.75bil per qtr. That's just my plan and my situation may not be the same as yours. Hope it helps.
you are welcome, Vin. No decision from UK MHRA yet for hmtm. As for rebuilding GenM, LKT has contained the damage within GenM with the latest move. RAV Bahamas shareholder dispute will hurt from the legal fees itself as the case will drag to 2026 at the minimum. LKT has to do more to shield Gent from GenM's US assets; its a drag for now particularly the funding to support GenM if the needs arises.
can be longer than 6 months, Vin. There are more details being reviewed apart from clinical trials data - manufacturing related information, packaging and labelling, risk management plan and etc.
the surprise from yesterday results is that lower revenue from GenM's MY assets comparing to Q4'24 despite major festive seasons. Hopefully it is not structural decline for GenM MY assets. Margins for US segment improved compared to Q4 which is a good thing despite lower revenue. RWLV ebitda margins improved from low single digit to above mid single digit. Ideally, I would like to see the ebitda margins for RWLV to be at between 25% to 35% range; anything less than this range is considered capital misallocation. Will have to wait and give the RWLV board at least 6 to 9 months from Q4'24 to measure their performance.
Cheng, gens and genm today performance maintain.. But genting only one drop... Maybe I know how much EBITDA for rwlv? If not mistaken previously qe I think just 1.5m..
One more month left for taurx...
Hope everything go smooth
last qtr ~6.8 mil ebitda and latest qtr 47.2 mil, Vin. Ebitda margins slightly more than 6%. GenS is solid with q1'25 better than q4'24 for both revenue, ebitda and ebitda margins. GenM's revenue dropped by slightly more than 150 mil comparing to q4 which is a surprise. Gent will have to depend on GenS and RWLV in coming quarters.
Genm this qe revenue look weak maybe coz of puasa.. .
Sir Cheng, possible next qe will bring genting huge profit coz of forex gain? Recently Usd weak bring down depreciation as well... Last Q1 24 dep was cost 1b and previously drop to 800m++
you are right, Vin. Q2 forex gain will be higher indeed. And GenS should continue to see recovery heading into Q3. Upcoming two consecutive quarter's performance for RWLV will also be important; ebitda margins has to move up to at least 20% first before moving up to 30%. Anything less than 25% for RWLV will be an investment failure / capital misallocation in my personal opinion. GenS margins at 35% and that should be the benchmark for RWLV :) GenM US assets typically ranging between 15% to 25%.
Gens Q2 will be weak as well....... In the future gens still got up coming 2030 project.. Hope will bring profit achieve 220m Sgd above..
BTW genm seem like got strong support at current price... Maybe will announce the Bahamas case settle soon and year end bid for the NY licence
GenM (49%), GenS (53%) and RWLV (100%) ownership by Gent. GenS and RWLV performance will be key for Gent's recovery/growth. GenM's growth will be challenging unless drastic decision to streamline US assets - divest non performing assets and reallocate the capital for capex on profitable assets.
