RWS Performance – Analysts’ View

Posted: March 27, 2010 in Uncategorized

PROFESSIONAL GROUND noticed the following stock investment report published on 27th Mar 2010.  Worthy to note is analysts’ view that questioning Genting Singapore’s (RWS) capability to sustain its already lukewarm casino performance, when Marina Bay Sands opens in late April 2010.

Below text is an extracted portion of the report, concerning RWS.

—————-

BUSINESS AS USUAL

Published March 27, 2010

By R SIVANITHY
SENIOR CORRESPONDENT

IT was business as usual for the local stock market this week, with no real surprises.

However, in the past six to eight weeks, ‘business as usual’ has been a bit of a misnomer for many retail brokers, since they haven’t had much business from the man in the street.

As a result, ‘business as usual’ has grown to encompass features such as low liquidity, hectic churning of penny stocks by dealers trading through their own accounts, and not much in the way of direction from overseas markets.

Another penny stock that has seen plenty of trading – and research attention – is Genting Singapore, which yesterday fell half a cent to 92 cents on volume of 32.6 million units….

…. The stock is on Goldman Sachs’ Conviction List as a ‘sell’, and in a March 24 report, the broker reiterated this with a 12-month target price of 73 cents. Goldman estimates that Genting’s Resorts World Sentosa is generating daily mass market casino winnings of $3.6 million, which is too low to meet forecasts. The opening of competitor Marina Bay Sands may change this, said Goldman. But it estimates that the mass market needs to grow 44 per cent overnight – no mean feat considering that it grew only 18 per cent after Sands opened in Macau in the second half of 2004.

….

Would the Ride be smooth for RWS? After MBS opens

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