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market punishing genting for not declaring dividends. at one side it s telling that it s having issue with its cash flow. on another hand, it s telling that it is preserving cash for further massive capital injection or investment.
so the safe assumption is only something significant and the difference would be able to reverse the trend and that would be the taurx drug approval. I don't think even with the new York license could reverse the trend as Genting would need to spend many billions for that development.
not forgetting pumping more funds and acquisition of Empire in May 2025. All these negative news caused Genting to drop from around rm4.80 to rm2.80. not forgetting being kicked out from KLCI index and MSCI index. Now, with 2 out of the bad news resolved, but Genting didn't recover at all.
that was when they announced the submission in June 2024. next all the bad news came one by one. Investigation by Las Vegas authority in August 2024, court case by partner for Bimini Resort October 2024, Q4 losses Feb 2025.
like it or not, all gloves counters are trapping the investors whether they made money or not. worst is Hartalega. did not split shares and just had some small losses compare to Top Glove and supermax, yet the shares were dumped like crazy.
