由于赌场的访客减少，云顶新加坡（Genting Singapore）今年第一季亏损3187万元，营收下滑36％至1亿零537万元。
集团税前亏损3042万元，每股亏损0.33分，净资产值28.98分。而去年同期，集团获得净利602万元，营收则为1亿6406万元。
该公司最近刚从云顶国际（Genting International）改名为云顶新加坡。该公司表示，营收的下滑主要是因为集团在英国的赌场业务营收下跌5840万元，这是由业务量减少和不好的运气因素造成的。另外，相比起前一年，赌场访客的减少和英镑的贬值，进一步导致了营收下滑。
英国赌博税的上调将对集团的业务产生负面影响。集团说，英国政府日前宣布，从4月27日起，把扑克牌的税率调高到与其他赌博游戏税率一致的水平，根据赌场的盈利，这使得扑克牌的税率从15％增加到至多50％。
英国政府从4月22日起，也调高了赌博机器许可证的税率，英国政府之前并没有暗示会采取这一政策，也没有征求业者意见。
云顶新加坡说，这对赌博业以及集团会造成负面影响。集团预计，这对集团今年整体的影响约为120万英镑（268万新元）。
英国政府也宣布了关于赌博机器税率的商议，目前还不知道这会造成任何的变化。
云顶新加坡是英国最大的赌场营运商，共拥有45个赌场。但集团指出，英国的经济情况不佳，展望不明朗。经济的放缓已经、也预计会继续对人们的可支配收入产生重大的影响，因此英国赌场业务的营收将继续受影响。
针对目前的经济情况，管理层已经采取了一系列的削减成本措施，来减轻营收下滑的影响。
投入65.9亿在本地 建赌场和主题公园
云顶新加坡正在投入65亿9000万元，在新加坡建造一个赌场和主题公园，赌场预计会于明年年初开业。为了准备综合度假村的开张，集团预计会承受显著的开张前的成本，包括人力资源的聘用、培训和销售与市场营销计划。集团预计，这会对今年的净利产生显著的影响。
云顶新加坡的股价从今年3月初起开始一路上涨，从41.5分升至75.5分，涨幅高达82％。云顶新加坡昨天上扬0.5分，即0.67％，至75.5分。
Source
Thursday, May 14, 2009
云顶2子公司建议易名 名胜世界-云顶大马 亚地种植-云顶种植
（吉隆坡13日讯）云顶（Genting，3182，主板贸服股）旗下公司的名胜世界（Resorts，4715，主板贸服股）和亚地种植（Asiatic，2291，主板种植股），分别建议把公司易名为“云顶大马”（Genting Malaysia Berhad）和“云顶种植”（Genting Plantation Berhad）。
名胜世界和亚地种植昨日发表文告表示，公司易名的这项建议，其中原因是为了反映出各别公司本身营运的业务，以及与母公司云顶之间的关系。
截至目前，云顶共持有名胜世界约47％的股权，而在亚地种植则持有54.7％的股权。
两家公司的易名建议已获得大马公司委员会的同意，目前有待股东的批准。
名胜世界和亚地种植将分别在6月16日和6月15日举行股东大会，并将会在易名方面寻求股东的批准。
一旦获得股东的通过，新公司名称将会从发行有关易名证书的日期起生效。
另一方面，名胜世界、亚地种植与云顶也纷纷宣布派发股息。
名胜世界与云顶同样派发每股扣除了25％税务的4仙终期股息；而亚地种植则宣布派发每股扣除了25％税务的5.0仙终期股息。
Source
名胜世界和亚地种植昨日发表文告表示，公司易名的这项建议，其中原因是为了反映出各别公司本身营运的业务，以及与母公司云顶之间的关系。
截至目前，云顶共持有名胜世界约47％的股权，而在亚地种植则持有54.7％的股权。
两家公司的易名建议已获得大马公司委员会的同意，目前有待股东的批准。
名胜世界和亚地种植将分别在6月16日和6月15日举行股东大会，并将会在易名方面寻求股东的批准。
一旦获得股东的通过，新公司名称将会从发行有关易名证书的日期起生效。
另一方面，名胜世界、亚地种植与云顶也纷纷宣布派发股息。
名胜世界与云顶同样派发每股扣除了25％税务的4仙终期股息；而亚地种植则宣布派发每股扣除了25％税务的5.0仙终期股息。
Source
Tuesday, May 12, 2009
Resorts World at Sentosa picks agencies for creative review
SINGAPORE - Resorts World at Sentosa (RWS) has selected seven agencies, among them Euro RSCG, McCann Worldgroup and Y&R, for its creative review.
Three local agencies have also been invited to pitch, say sources, though RWS has declined to disclose participants.
The integrated resort’s creative account came into play late in April when TBWA resigned the business after two years.
Robin Goh, assistant vice president, communications, Resorts World at Sentosa, said at the time: “Resorts World at Sentosa is on track for its opening early next year, and will be exploring options for its next creative agency.”
Source
Three local agencies have also been invited to pitch, say sources, though RWS has declined to disclose participants.
The integrated resort’s creative account came into play late in April when TBWA resigned the business after two years.
Robin Goh, assistant vice president, communications, Resorts World at Sentosa, said at the time: “Resorts World at Sentosa is on track for its opening early next year, and will be exploring options for its next creative agency.”
Source
Monday, May 11, 2009
2利好因素激励 云顶新加坡前景乐观
（吉隆坡11日讯）由于圣淘沙名胜世界的长期盈利能力及英国博彩领域的复苏，大马研究给予云顶新加坡公司（Genting Singapore）“买入”评级，合理价格为0.90新元（2.17令吉）。
该研究说，云顶新加坡是一项长期投资，预计将会在2011财年才开始作出盈利贡献，惟市场预测会在2010财年实现。
此外，大马研究也调高云顶（Genting，3182，主板贸服股）原有的“守住”评级至“买入”评级，合理价格为6.35令吉。
该研究指出：“我们相信圣淘沙名胜世界的投入运作，将会刺激云顶盈利，同时，原棕油价格及油气资产也逐渐复苏。”
鉴于该研究早前建议云顶“守住”评级，是因为圣淘沙名胜世界的度假村及赌场综合计划（IR）的建筑成本比预测高，以及英国赌场业务前景暗淡等因素，但云顶新加坡现有的前景已经较为乐观。
“由于新加坡名胜世界的初期营运开销较高，因此在2009财年，其对云顶作出的税前盈利贡献可能是负5亿1700万令吉，料会在2010财年才能转亏为盈，取得4亿3000万令吉盈利，而在2011财年增加至10亿6000万令吉。”
云顶2010年盈利看涨 该研究认为，云顶2009财年的净利料会下滑47％至9亿7800万令吉，但在2010财年将增长37％至12亿令吉。
圣淘沙名胜世界计划在2010年首季分阶段开始营业，料在今年下半年获得赌场营运执照，2010财年的赚幅估计为14％。
该公司的资本开销预计在2009财年到达20亿新元（48亿令吉），而在2010财年减至10亿新元。 “当圣淘沙名胜世界自由现金流量在2012财年料提高至每股0.16新元（0.38令吉）时，预估该公司将有能力派息。”
Source
该研究说，云顶新加坡是一项长期投资，预计将会在2011财年才开始作出盈利贡献，惟市场预测会在2010财年实现。
此外，大马研究也调高云顶（Genting，3182，主板贸服股）原有的“守住”评级至“买入”评级，合理价格为6.35令吉。
该研究指出：“我们相信圣淘沙名胜世界的投入运作，将会刺激云顶盈利，同时，原棕油价格及油气资产也逐渐复苏。”
鉴于该研究早前建议云顶“守住”评级，是因为圣淘沙名胜世界的度假村及赌场综合计划（IR）的建筑成本比预测高，以及英国赌场业务前景暗淡等因素，但云顶新加坡现有的前景已经较为乐观。
“由于新加坡名胜世界的初期营运开销较高，因此在2009财年，其对云顶作出的税前盈利贡献可能是负5亿1700万令吉，料会在2010财年才能转亏为盈，取得4亿3000万令吉盈利，而在2011财年增加至10亿6000万令吉。”
云顶2010年盈利看涨 该研究认为，云顶2009财年的净利料会下滑47％至9亿7800万令吉，但在2010财年将增长37％至12亿令吉。
圣淘沙名胜世界计划在2010年首季分阶段开始营业，料在今年下半年获得赌场营运执照，2010财年的赚幅估计为14％。
该公司的资本开销预计在2009财年到达20亿新元（48亿令吉），而在2010财年减至10亿新元。 “当圣淘沙名胜世界自由现金流量在2012财年料提高至每股0.16新元（0.38令吉）时，预估该公司将有能力派息。”
Source
Saturday, May 9, 2009
Universal Studios conquers Southeast Asia and the Middle East
The world's most famous movie theme park, Universal Studios, is inching closer to Middle Eastern travellers as it sets off for Singapore next March.
Before it opens its doors in Dubai next year, Universal Studios hopes to beckon Middle Eastern travellers to its shores in Singapore where the theme park will open in March 2010 as part of the Sentosa Island Resort.
A first in Southeast Asia, Universal Studios Singapore will have 24 rides and attractions, 18 of which are brand new or specially redesigned for Singapore. Thrill seekers and movie buffs can look forward to brand new rides such as Transformers, as well as popular favourites the Revenge of the Mummy and the WaterWorld stunt show.
Universal Studios Dubailand is under construction and will be situated at the heart of Universal City, a huge complex of theme parks spanning over 20 million sq ft (nearly 2 million sq m) in Dubai. The city will also include hotels, restaurants and shops as well as residential and commercial areas, and will open some time next year (completion date yet to be announced).
Universal already runs theme parks in Los Angeles, Florida and Japan.
Source
Before it opens its doors in Dubai next year, Universal Studios hopes to beckon Middle Eastern travellers to its shores in Singapore where the theme park will open in March 2010 as part of the Sentosa Island Resort.
A first in Southeast Asia, Universal Studios Singapore will have 24 rides and attractions, 18 of which are brand new or specially redesigned for Singapore. Thrill seekers and movie buffs can look forward to brand new rides such as Transformers, as well as popular favourites the Revenge of the Mummy and the WaterWorld stunt show.
Universal Studios Dubailand is under construction and will be situated at the heart of Universal City, a huge complex of theme parks spanning over 20 million sq ft (nearly 2 million sq m) in Dubai. The city will also include hotels, restaurants and shops as well as residential and commercial areas, and will open some time next year (completion date yet to be announced).
Universal already runs theme parks in Los Angeles, Florida and Japan.
Source
Tuesday, May 5, 2009
觊觎海外赌场资产 名胜世界趁机壮大实力
（吉隆坡5日讯）马银投资银行在投资研究报告中说，名胜世界有限公司（RESORTS ，4715，主板贸易服务组）仍然是它选择的赌场业股之一，是因为回弹潜能强大。即使是在新加坡的两个综合休闲胜地开始营业之后，相信盈利仍然强劲增长。
此外，联号公司之间交易与须筹集现金的风险较低，合并收购的潜能日益提升。它以偏低的10年本益比8倍进行交易（不包括现金）。
名胜世界的<买入>评级保持不变，但是目标价由2.86令吉调高至3.10令吉，这较现有股价出现26.53%的潜在赚益。
马银投资银行将名胜世界的2009年以及2010年盈利预估分别调高6％及4％，因为较高的赌场收益将抵消游客减少的影响。采用11％加权平均资金成本，以现金流量贴现估值，得到修订净资产值3.10令吉。现有股价是名胜世界的现金结存以不合理的75％折扣来交易。
虽然经济疲软，但是游客增加（2008年第1季：470万名游客），马银投资银行预测名胜世界的2009年第1季业绩按年强劲增长。客房收费率有竞争力以及主办音乐/演奏会吸引游客的策略，在新加坡的两个新休闲胜地开始营业后，将有助于减轻游客可能减少的影响。由于较低的10％豪赌客赌博税，名胜世界将可捍卫它的豪赌客市场率。
随着收购10％的Walker Digital Gaming股权后，股东投资值损失45亿令吉；马银投资银行相信名胜世界将减少建议联号公司之间交易。
与此同时，名胜世界持股19.6％的丽星邮轮（Star Cruises）唯一重大投资承诺，是最终将5000万美元投资在它持股50％的联营企业Newport City NCL。该50％联营企业已再融资大约8亿美元在2009年以及2010年届期的债务，以及获取80％融资收购12亿美元的Norwegian Epic邮轮。
在接着的6至12个月内可能有更多赌场业相关收购计划。马银投资银行认为，名胜世界的45亿净现金结存，将在必要时用来收购著名的海外赌场业资产。由于美国经济疲软，以及随着在澳门的中国签证受限制后，美国以及澳门的赌场公司估值已剧跌。
Source
此外，联号公司之间交易与须筹集现金的风险较低，合并收购的潜能日益提升。它以偏低的10年本益比8倍进行交易（不包括现金）。
名胜世界的<买入>评级保持不变，但是目标价由2.86令吉调高至3.10令吉，这较现有股价出现26.53%的潜在赚益。
马银投资银行将名胜世界的2009年以及2010年盈利预估分别调高6％及4％，因为较高的赌场收益将抵消游客减少的影响。采用11％加权平均资金成本，以现金流量贴现估值，得到修订净资产值3.10令吉。现有股价是名胜世界的现金结存以不合理的75％折扣来交易。
虽然经济疲软，但是游客增加（2008年第1季：470万名游客），马银投资银行预测名胜世界的2009年第1季业绩按年强劲增长。客房收费率有竞争力以及主办音乐/演奏会吸引游客的策略，在新加坡的两个新休闲胜地开始营业后，将有助于减轻游客可能减少的影响。由于较低的10％豪赌客赌博税，名胜世界将可捍卫它的豪赌客市场率。
随着收购10％的Walker Digital Gaming股权后，股东投资值损失45亿令吉；马银投资银行相信名胜世界将减少建议联号公司之间交易。
与此同时，名胜世界持股19.6％的丽星邮轮（Star Cruises）唯一重大投资承诺，是最终将5000万美元投资在它持股50％的联营企业Newport City NCL。该50％联营企业已再融资大约8亿美元在2009年以及2010年届期的债务，以及获取80％融资收购12亿美元的Norwegian Epic邮轮。
在接着的6至12个月内可能有更多赌场业相关收购计划。马银投资银行认为，名胜世界的45亿净现金结存，将在必要时用来收购著名的海外赌场业资产。由于美国经济疲软，以及随着在澳门的中国签证受限制后，美国以及澳门的赌场公司估值已剧跌。
Source
Sunday, May 3, 2009
Saturday, May 2, 2009
Chrysler Drags U.S. Auto Sales to 34% Drop, Trailing Estimates
May 1 (Bloomberg) -- U.S. auto sales tumbled 34 percent in April, the 18th straight monthly decline, as Chrysler LLC’s slide toward bankruptcy helped shrink the industry more than analysts estimated.
Chrysler’s U.S. deliveries fell 48 percent in joining Toyota Motor Corp., Ford Motor Co. and Nissan Motor Co. with decreases that were worse than analysts expected. General Motors Corp. and Honda Motor Co. sales dropped less than projections.
April ended with Chrysler’s Chapter 11 filing, the swine flu outbreak and GM still racing to beat a June 1 deadline to restructure without ending up in court, tempering any benefits from rising consumer confidence.
“The cloud of bankruptcy is still very much hanging there,” said Rebecca Lindland, an IHS Global Insight analyst in Lexington, Massachusetts. “We can’t just see these little glimmers of hope in consumer confidence. We need to see an actual sustained recovery in the economy.”
April sales ran at a seasonally adjusted annual rate of 9.3 million units, according to industry research firm Autodata Corp. of Woodcliff Lake, New Jersey. That missed the 9.9 million estimate of 7 analysts surveyed by Bloomberg.
Lindland said she expects the rate to fall to 9 million in May and June. The March rate was 9.9 million, after February’s 9.1 million came in as the lowest since 1981. Sales totaled 13.2 million in 2008, and averaged 16.8 million this decade through 2007.
Automakers’ Decreases
Industrywide deliveries slid to 819,171. Ford slumped 32 percent, Toyota tumbled 42 percent and Nissan fell 38 percent. GM decreased 34 percent, and Honda dropped 25 percent from a year earlier.
Automakers took comfort from the 34 percent industrywide decline, which was the smallest this year.
“It seems like we’re bouncing around at the bottom of a bathtub,” Chrysler Vice Chairman Jim Press said in a conference call. “We have found the bottom.”
With Auburn Hills, Michigan-based Chrysler in bankruptcy court, the industry’s focus now shifts to GM’s bid to shrink $44 billion in obligations under the deadline set by President Barack Obama or face a government-backed bankruptcy.
‘A Martian’
“I’ve seen everything except that a Martian is going to run General Motors,” the automaker’s sales chief, Mark LaNeve, said on a conference call. “We’ve been fighting every one of these rumors, and I can tell you they don’t help sales.”
GM beat the average estimate for a 37 percent sales decline, based on a survey of 5 analysts. Purchases by fleet customers buoyed results, while sales to individual consumers fell 45 percent, Detroit-based GM said. Honda was projected to drop 27 percent, based on 4 estimates.
Ford’s slide exceeded the 30 percent average estimate among 5 analysts surveyed by Bloomberg, and Chrysler outstripped projections for a 37 percent drop. Toyota’s decline was greater than the 37 percent average of 4 estimates, while Tokyo-based Nissan’s slump exceeded a projected decrease of 28 percent. April had 26 selling days, the same as a year earlier.
Ford said sales slowed in the last week of April, which it attributed to heavy news coverage of the bailout plans for GM and Chrysler, as well as reports about the new flu strain.
“There was a bit of a CNN effect this week with the news focusing on Chrysler and GM,” Ford’s sales analyst, George Pipas, said in a conference call.
Ford Tops Toyota
Ford outsold Toyota City, Japan-based Toyota in April, 134,401 vehicles to 126,540, to take the No. 2 U.S. sales position behind GM. For the year, Toyota remains ahead of Dearborn, Michigan-based Ford by 27,400 cars and trucks.
South Korea’s Hyundai Motor Co. posted the smallest decline among major automakers, sliding 14 percent. Kia Motors Corp., Hyundai’s affiliate, reported a 15 percent decrease.
Automakers’ spending on incentives averaged $3,031 for each vehicle, a 29 percent increase from a year earlier, according to automotive researcher Edmunds.com of Santa Monica, California. Still, that was down from the record of $3,165 in March.
Honda’s increased incentives for Accord allowed the car to become the top-selling U.S. model, surpassing Ford’s F-Series pickups and Toyota’s Camry sedan.
Average incentive spending rose 7.9 percent at Honda to $1,439 a vehicle, Edmunds.com said. Chris Martin, a Honda spokesman, wouldn’t give a figure, while Bob Carter, Toyota’s U.S. vice president of sales, said Accord incentive spending surged “more than 50 percent” last month.
Economic Impact
Consumer sentiment surged last month to its highest since before the collapse of credit markets late last year, according to a Reuters/University of Michigan index released today.
“It’s all about credit and confidence,” said Michael Robinet, an analyst at CSM Worldwide in Northville, Michigan. “Credit continues to free up, albeit at a slow pace, and we’re not seeing confidence degrade like we have in the past.”
While the government may say May 8 that unemployment rose to 8.9 percent from 8.5 percent in March, job losses likely eased in April, based on Bloomberg surveys of economists. The drop in nonfarm payrolls was projected to be 610,000, 8 percent fewer than a month earlier.
A 9.4 percent gain for the Standard & Poor’s 500 Index, the biggest monthly rally since March 2000, also may have eased consumers’ alarm over Wall Street’s tumble late last year. As of today, the benchmark index for U.S. stocks needs to rise only 2.9 percent to erase its 2009 loss.
Those signs of life for the stock market and confidence will position auto sales for a modest second-half recovery, said Gary Dilts, an analyst at market-research firm J.D. Power & Associates in Troy, Michigan.
“It’s nothing to have a party over,” Dilts said. “But we’ve reached the point where there’s just not much lower that you can go.”
Source
Chrysler’s U.S. deliveries fell 48 percent in joining Toyota Motor Corp., Ford Motor Co. and Nissan Motor Co. with decreases that were worse than analysts expected. General Motors Corp. and Honda Motor Co. sales dropped less than projections.
April ended with Chrysler’s Chapter 11 filing, the swine flu outbreak and GM still racing to beat a June 1 deadline to restructure without ending up in court, tempering any benefits from rising consumer confidence.
“The cloud of bankruptcy is still very much hanging there,” said Rebecca Lindland, an IHS Global Insight analyst in Lexington, Massachusetts. “We can’t just see these little glimmers of hope in consumer confidence. We need to see an actual sustained recovery in the economy.”
April sales ran at a seasonally adjusted annual rate of 9.3 million units, according to industry research firm Autodata Corp. of Woodcliff Lake, New Jersey. That missed the 9.9 million estimate of 7 analysts surveyed by Bloomberg.
Lindland said she expects the rate to fall to 9 million in May and June. The March rate was 9.9 million, after February’s 9.1 million came in as the lowest since 1981. Sales totaled 13.2 million in 2008, and averaged 16.8 million this decade through 2007.
Automakers’ Decreases
Industrywide deliveries slid to 819,171. Ford slumped 32 percent, Toyota tumbled 42 percent and Nissan fell 38 percent. GM decreased 34 percent, and Honda dropped 25 percent from a year earlier.
Automakers took comfort from the 34 percent industrywide decline, which was the smallest this year.
“It seems like we’re bouncing around at the bottom of a bathtub,” Chrysler Vice Chairman Jim Press said in a conference call. “We have found the bottom.”
With Auburn Hills, Michigan-based Chrysler in bankruptcy court, the industry’s focus now shifts to GM’s bid to shrink $44 billion in obligations under the deadline set by President Barack Obama or face a government-backed bankruptcy.
‘A Martian’
“I’ve seen everything except that a Martian is going to run General Motors,” the automaker’s sales chief, Mark LaNeve, said on a conference call. “We’ve been fighting every one of these rumors, and I can tell you they don’t help sales.”
GM beat the average estimate for a 37 percent sales decline, based on a survey of 5 analysts. Purchases by fleet customers buoyed results, while sales to individual consumers fell 45 percent, Detroit-based GM said. Honda was projected to drop 27 percent, based on 4 estimates.
Ford’s slide exceeded the 30 percent average estimate among 5 analysts surveyed by Bloomberg, and Chrysler outstripped projections for a 37 percent drop. Toyota’s decline was greater than the 37 percent average of 4 estimates, while Tokyo-based Nissan’s slump exceeded a projected decrease of 28 percent. April had 26 selling days, the same as a year earlier.
Ford said sales slowed in the last week of April, which it attributed to heavy news coverage of the bailout plans for GM and Chrysler, as well as reports about the new flu strain.
“There was a bit of a CNN effect this week with the news focusing on Chrysler and GM,” Ford’s sales analyst, George Pipas, said in a conference call.
Ford Tops Toyota
Ford outsold Toyota City, Japan-based Toyota in April, 134,401 vehicles to 126,540, to take the No. 2 U.S. sales position behind GM. For the year, Toyota remains ahead of Dearborn, Michigan-based Ford by 27,400 cars and trucks.
South Korea’s Hyundai Motor Co. posted the smallest decline among major automakers, sliding 14 percent. Kia Motors Corp., Hyundai’s affiliate, reported a 15 percent decrease.
Automakers’ spending on incentives averaged $3,031 for each vehicle, a 29 percent increase from a year earlier, according to automotive researcher Edmunds.com of Santa Monica, California. Still, that was down from the record of $3,165 in March.
Honda’s increased incentives for Accord allowed the car to become the top-selling U.S. model, surpassing Ford’s F-Series pickups and Toyota’s Camry sedan.
Average incentive spending rose 7.9 percent at Honda to $1,439 a vehicle, Edmunds.com said. Chris Martin, a Honda spokesman, wouldn’t give a figure, while Bob Carter, Toyota’s U.S. vice president of sales, said Accord incentive spending surged “more than 50 percent” last month.
Economic Impact
Consumer sentiment surged last month to its highest since before the collapse of credit markets late last year, according to a Reuters/University of Michigan index released today.
“It’s all about credit and confidence,” said Michael Robinet, an analyst at CSM Worldwide in Northville, Michigan. “Credit continues to free up, albeit at a slow pace, and we’re not seeing confidence degrade like we have in the past.”
While the government may say May 8 that unemployment rose to 8.9 percent from 8.5 percent in March, job losses likely eased in April, based on Bloomberg surveys of economists. The drop in nonfarm payrolls was projected to be 610,000, 8 percent fewer than a month earlier.
A 9.4 percent gain for the Standard & Poor’s 500 Index, the biggest monthly rally since March 2000, also may have eased consumers’ alarm over Wall Street’s tumble late last year. As of today, the benchmark index for U.S. stocks needs to rise only 2.9 percent to erase its 2009 loss.
Those signs of life for the stock market and confidence will position auto sales for a modest second-half recovery, said Gary Dilts, an analyst at market-research firm J.D. Power & Associates in Troy, Michigan.
“It’s nothing to have a party over,” Dilts said. “But we’ve reached the point where there’s just not much lower that you can go.”
Source
Friday, May 1, 2009
談判破裂 克萊斯勒破產成定局
（華盛頓30日訊）據知情人士透露，美國財政部與克萊斯勒(Chrysler)貸款提供方所進行的旨在避免克萊斯勒破產的談判宣告破裂，這意味著克萊斯勒在週四申請破產保護已變得毫無懸念。
為使銀行和對沖基金寬免克萊斯勒69億美元(249.7億令吉)的債務，財政部在週三提出的最新方案中將支付給銀行和對沖基金的現金金額提高了2.5億美元(9億令吉)，達到22.5億美元(81.4億令吉)。
作為克萊斯勒的最大放貸人及貸款方的牽頭者，摩根大通在週三晚間給其他45家銀行及對沖基金就該交易進行投票表決﹔多家大型對沖基金投反對票，並拒絕讓步，為克萊斯勒申請破產鋪平道路。
申請破產保護可能也將為意大利汽車生產商飛霞公司(Fiat)接管克萊斯勒鋪平道路。
如果克萊斯勒申請破產保護，其背后原因包括，飛霞可因此將數百家汽車經銷商從其銷售網絡中清除出去。此外，克萊斯勒還有一些飛霞不希望保留的環保等方面的義務，如果申請破產，這樣的義務可以輕易地消除。
Source
為使銀行和對沖基金寬免克萊斯勒69億美元(249.7億令吉)的債務，財政部在週三提出的最新方案中將支付給銀行和對沖基金的現金金額提高了2.5億美元(9億令吉)，達到22.5億美元(81.4億令吉)。
作為克萊斯勒的最大放貸人及貸款方的牽頭者，摩根大通在週三晚間給其他45家銀行及對沖基金就該交易進行投票表決﹔多家大型對沖基金投反對票，並拒絕讓步，為克萊斯勒申請破產鋪平道路。
申請破產保護可能也將為意大利汽車生產商飛霞公司(Fiat)接管克萊斯勒鋪平道路。
如果克萊斯勒申請破產保護，其背后原因包括，飛霞可因此將數百家汽車經銷商從其銷售網絡中清除出去。此外，克萊斯勒還有一些飛霞不希望保留的環保等方面的義務，如果申請破產，這樣的義務可以輕易地消除。
Source
Thursday, April 30, 2009
Resorts World at Sentosa to seek new agency
SINGAPORE - Resorts World at Sentosa (RWS) is to launch a search for a creative agency after parting ways with TBWA yesterday.
"Resorts World at Sentosa is on track for its opening early next year, and will be exploring options for its next creative agency,” said Robin Goh, assistant vice president, communications, Resorts World at Sentosa.
Other sources have suggested that “several” agencies have already held talks with the client, while one argued that a pitch consultant could be brought in to invite agencies to pitch in time.
TBWA Singapore resigned the RWS creative business after two years, citing "creative and strategic differences".
Angela Lam, head of marketing at Resorts World at Sentosa, said: “Both companies have decided that this would be the best move at this point in time.”
Source
"Resorts World at Sentosa is on track for its opening early next year, and will be exploring options for its next creative agency,” said Robin Goh, assistant vice president, communications, Resorts World at Sentosa.
Other sources have suggested that “several” agencies have already held talks with the client, while one argued that a pitch consultant could be brought in to invite agencies to pitch in time.
TBWA Singapore resigned the RWS creative business after two years, citing "creative and strategic differences".
Angela Lam, head of marketing at Resorts World at Sentosa, said: “Both companies have decided that this would be the best move at this point in time.”
Source
Traders bet on Wall Street rising
Hang Seng's surge, 60-point bounce in Dow Jones Industrial Average June futures push STI up 41 points
IF INDICES in this part of the world should rise sharply, it's a fair bet that it was because traders are betting heavily on Wall Street rising just as sharply later the same day. Such was the case yesterday when fears of Mexican swine flu, which had dragged the Straits Times Index down some 45 points on Monday and Tuesday, were suddenly banished, thanks to a 2.7 per cent rise in Hong Kong's Hang Seng Index and a 60-point bounce in the June futures on the Dow Jones Industrial Average.
The outcome was a 41.16-point rise in the STI to 1,849.57, with some amount of short-covering no doubt playing a part.
The bulk of brokers' reports dealt with the possible consequences on markets if the swine flu threat was to rise beyond present, relatively benign levels.
In a Hong Kong Economics report on Tuesday, Morgan Stanley said that it thinks the negative impact on the economy will be smaller than that experienced during the 2003 Sars outbreak. 'The biggest blow during Sars was the collapse of in-bound tourism, which will unlikely be the case this time round as Hong Kong/China is not the source of the outbreak,' said MS. It also said that Hong Kong today is different from 2003 because the relevant authorities are better prepared for epidemic disease outbreaks.
Airline stocks have understandably come under pressure this week, although Singapore Airlines yesterday rebounded 16 cents to $10.30 with 2.7 million traded.
In assessing the impact of the swine flu on SIA, DBS Vickers said in a Tuesday note that it does not expect a major impact on the airline's business yet, because SIA does not fly to Mexico and flies to only a few US cities.
'Of greater importance is a recovery in demand and thus load factors, which can help the stock re-rate . . . Maintain 'hold' with $11.30 target price. The earnings outlook for the next two quarters remains weak and we would advise buying only if 1) load factors start to improve or 2) the shares drop below $9 per share,' said DBSV.
Elsewhere, Chartered Semiconductor was the day's most active stock, rising 1.5 cents to 16.5 cents on volume of 84.4 million. Goldman Sachs yesterday released a 'sell' on the counter, saying that because the stock has doubled in the past month and is now trading at 0.6 times 2009 estimated book, it is overvalued. Among other reasons, GS also based its call on Chartered not having had positive annual cash flow since inception and the likelihood that it will need further financing in 2009-10 to supplement a recently-completed rights issue.
Meanwhile, Credit Suisse (CS) joined the ranks of investment houses such as Nomura, UBS Investment Research and Citi Investment Research in recommending an 'overweight' on the local market.
In a April 28 Strategy report, CS said it believes that the local market may have bottomed and could gain 20-48 per cent from current levels. It said it is 'overweighting' banks and financials while 'underweighting' telecoms and property.
In a April 24 Global Economics Weekly report, Bank of America/Merrill Lynch said that the current bounce on Wall St is at best, 'the famed reflexive rebound that occurs between down-legs of a secular bear market'.
It added that economic support for the rally has been dubious so far and pointed out that although bull markets may start out being driven by technicals like sentiment and market positioning, they have to be driven by economic fundamentals to be sustained.
Shares close up 2.28%
SINGAPORE - Singapore shares closed 2.28 per cent higher on Wednesday, boosted by strong performances in the Chinese and Hong Kong markets, dealers said.
The blue-chip Straits Times Index closed 41.16 points higher at 1,849.57 on volume of 1.52 billion shares worth $1.16 billion (US$777 million).
Gainers led losers 373 to 116, with 761 issues unchanged.
'We are basically following the region,' said a trader at bank-backed brokerage.
'The initial reaction by the market to the swine flu outbreak was probably overdone.'
Hong Kong share prices closed 2.76 per cent higher on Wednesday, while China shares climbed 2.78 per cent.
Banking shares closed higher. DBS advanced 11 cents to $9.10, Oversea-Chinese Banking Corp climbed 12 cents to $5.48 and United Overseas Bank edged up six cents to $11.00.
Among property shares, CapitaLand rose 13 cents to $2.56, City Developments gained 14 cents to $5.82 while Keppel Land was unchanged at $1.67.
Singapore Airlines gained 16 cents to $10.30 and Singapore Telecommunications rose eight cents to $2.54.
Investment holding company Sembcorp Industries was up nine cents to $2.65 and motor vehicle firm Jardine Cycle and Carriage climbed 34 cents to $13.26.
The blue-chip Straits Times Index closed 41.16 points higher at 1,849.57 on volume of 1.52 billion shares worth $1.16 billion (US$777 million).
Gainers led losers 373 to 116, with 761 issues unchanged.
'We are basically following the region,' said a trader at bank-backed brokerage.
'The initial reaction by the market to the swine flu outbreak was probably overdone.'
Hong Kong share prices closed 2.76 per cent higher on Wednesday, while China shares climbed 2.78 per cent.
Banking shares closed higher. DBS advanced 11 cents to $9.10, Oversea-Chinese Banking Corp climbed 12 cents to $5.48 and United Overseas Bank edged up six cents to $11.00.
Among property shares, CapitaLand rose 13 cents to $2.56, City Developments gained 14 cents to $5.82 while Keppel Land was unchanged at $1.67.
Singapore Airlines gained 16 cents to $10.30 and Singapore Telecommunications rose eight cents to $2.54.
Investment holding company Sembcorp Industries was up nine cents to $2.65 and motor vehicle firm Jardine Cycle and Carriage climbed 34 cents to $13.26.
Wednesday, April 29, 2009
猪流感可能打击马国赌场
（吉隆坡讯）猪流感来袭，旅游业首当其冲，分析员认为尽管整体展望负面，但实际影响仍视疫情扩散程度和长度，2009至2011财政年盈利预测和评级暂时保持不变。
联昌研究表示，致命病毒将对旅游和相关服务行业带来沉重打击，而赌场次领域更直接受害，主要是民众将削减旅游次数，以及减少曝露于公开场合等方式降低感染机率。
“对名胜世界(RESORTS)而言，这意味着云顶度假村和赌场旅客人数减少，但鉴于国内旅客为其主要客源，相信政府加强旅客检疫动作将不会对业务造成重大威胁，而云顶(GENTING)则因持有云顶国际和名胜世界股权而间接受创。”
截至2008财政年，云顶72％旅客为当天往返的短途旅客，其余28％为酒店房客，其中54％为当地人，22％新加坡旅客以及中国／香港22％和其他15％。
另外，阿马研究则认为，尽管整体展望负面，但对旅游和相关服务领域实际影响仍胥视疫情扩散程度和周期。
根据历史趋势，疫情爆发对博彩业者影响程度参差，但毫无疑问将对博彩相关类股信心带来负面冲击，其中名胜世界和云顶股价在2003年沙斯爆发初期，分别从高位下滑29％和23％，但随疫情在下半年趋缓，双方股价则从低位飙升60％和67％。
Source
联昌研究表示，致命病毒将对旅游和相关服务行业带来沉重打击，而赌场次领域更直接受害，主要是民众将削减旅游次数，以及减少曝露于公开场合等方式降低感染机率。
“对名胜世界(RESORTS)而言，这意味着云顶度假村和赌场旅客人数减少，但鉴于国内旅客为其主要客源，相信政府加强旅客检疫动作将不会对业务造成重大威胁，而云顶(GENTING)则因持有云顶国际和名胜世界股权而间接受创。”
截至2008财政年，云顶72％旅客为当天往返的短途旅客，其余28％为酒店房客，其中54％为当地人，22％新加坡旅客以及中国／香港22％和其他15％。
另外，阿马研究则认为，尽管整体展望负面，但对旅游和相关服务领域实际影响仍胥视疫情扩散程度和周期。
根据历史趋势，疫情爆发对博彩业者影响程度参差，但毫无疑问将对博彩相关类股信心带来负面冲击，其中名胜世界和云顶股价在2003年沙斯爆发初期，分别从高位下滑29％和23％，但随疫情在下半年趋缓，双方股价则从低位飙升60％和67％。
Source
Tuesday, April 28, 2009
名胜世界或购海外博彩资产 手持庞大现金·财务稳固
手持45亿令吉净现金在手的名胜世界（Resorts，4715，主板贸服股），企在非常舒适的财务状况，使之在收购海外博彩资产上拥有更好的地位。
受到美国疲弱经济所影响，美国及澳门的多家博彩公司也处在危险财务的边缘，加上澳门的签证限制，估计在未来的6至12个月内，全球的博彩领域会掀起并购浪潮。
有鉴于目前一些博彩资产价值低于一般水平，预见名胜世界将趁机利用手上45亿令吉的充裕现金，来加强其稳健的博彩资产。
在美国及亚洲（尤其是澳门），一些博彩公司在过去18个月来是在低估值下交易；而在欧洲，反而是线上或网络博彩已开出另一条生路，法国及德国有可能会合法化网络博彩活动。在这些博彩公司面对财务危机之际，进而为名胜世界提供了并购的机会，包括了波伊德博彩（Boyd aming）、驿站集团（Station Casino），以及热带娱乐公司（Tropicana Entertainment）。
承接债务数量是关键
另外较引人瞩目的是澳门的银河娱乐（Galaxy Entertainment）以及新濠博亚博彩（Melco Crown）这两个主要特许经营公司，名胜世界仅需80%以下的现有现金，就能够收购其中一家。
然而，若名胜世界决定要采取全面收购的方式，该公司将必须自身承接剩余债务的能力，而关键也在于名胜世界愿意承接被收购者的多少债务。
另一方面，虽然预见名胜世界于新加坡的度假村在2010年投入运作后，将面临另一度假村强劲的挑战而仅取得100万的新加坡顾客，但相信在具吸引力的房间收费率及演唱会的带动下，2011年的顾客数量将有所恢复。有鉴于看好名胜世界收益将维持稳健，分析员也给予名胜世界“买入”评级，并将目标价格上调至3.10令吉。
Source
受到美国疲弱经济所影响，美国及澳门的多家博彩公司也处在危险财务的边缘，加上澳门的签证限制，估计在未来的6至12个月内，全球的博彩领域会掀起并购浪潮。
有鉴于目前一些博彩资产价值低于一般水平，预见名胜世界将趁机利用手上45亿令吉的充裕现金，来加强其稳健的博彩资产。
在美国及亚洲（尤其是澳门），一些博彩公司在过去18个月来是在低估值下交易；而在欧洲，反而是线上或网络博彩已开出另一条生路，法国及德国有可能会合法化网络博彩活动。在这些博彩公司面对财务危机之际，进而为名胜世界提供了并购的机会，包括了波伊德博彩（Boyd aming）、驿站集团（Station Casino），以及热带娱乐公司（Tropicana Entertainment）。
承接债务数量是关键
另外较引人瞩目的是澳门的银河娱乐（Galaxy Entertainment）以及新濠博亚博彩（Melco Crown）这两个主要特许经营公司，名胜世界仅需80%以下的现有现金，就能够收购其中一家。
然而，若名胜世界决定要采取全面收购的方式，该公司将必须自身承接剩余债务的能力，而关键也在于名胜世界愿意承接被收购者的多少债务。
另一方面，虽然预见名胜世界于新加坡的度假村在2010年投入运作后，将面临另一度假村强劲的挑战而仅取得100万的新加坡顾客，但相信在具吸引力的房间收费率及演唱会的带动下，2011年的顾客数量将有所恢复。有鉴于看好名胜世界收益将维持稳健，分析员也给予名胜世界“买入”评级，并将目标价格上调至3.10令吉。
Source
Monday, April 27, 2009
Shares close 1.8% lower
SINGAPORE - Singapore shares fell 1.85 per cent on Monday on fears over the economic impact of a deadly swine flu outbreak, analysts said.
The blue-chip Straits Times Index (STI) closed 34.24 points down at 1,818.61, led by Singapore Airlines on concerns that air travel will take a further hit from the new health threat.
Volume was 1.77 billion shares worth $1.16 billion (US$774 million). Losers outnumbered gainers 427 to 125, with 700 issues unchanged.
The STI's decline was in line with other regional bourses, as fears of a worldwide swine flu outbreak dragged markets down.
'We expect uncertainty to hit the markets this week on growing concerns of the swine flu spreading and that a possible cure for this is not yet certain,' said NetResearch Asia.
'Much like SARS did in 2003, this would deal another blow to the travel and leisure industry.' Singapore Airlines dived 48 cents to $10.12 and Singapore Telecommunications eased two cents to $2.47.
Banking shares closed lower. DBS and United Overseas Bank eased six cents apiece to $8.98 and $11.12 respectively, and Oversea-Chinese Banking Corp shed 12 cents to $5.31.
Among property shares, CapitaLand fell 12 cents to $2.47, City Developments retreated 16 cents to $5.67 and Keppel Land slid five cents to $1.71.
Motor vehicle firm Jardine Cycle and Carriage fell 40 cents to $12.66 while agricultural products supplier Olam International rose five cents to $1.68.
The blue-chip Straits Times Index (STI) closed 34.24 points down at 1,818.61, led by Singapore Airlines on concerns that air travel will take a further hit from the new health threat.
Volume was 1.77 billion shares worth $1.16 billion (US$774 million). Losers outnumbered gainers 427 to 125, with 700 issues unchanged.
The STI's decline was in line with other regional bourses, as fears of a worldwide swine flu outbreak dragged markets down.
'We expect uncertainty to hit the markets this week on growing concerns of the swine flu spreading and that a possible cure for this is not yet certain,' said NetResearch Asia.
'Much like SARS did in 2003, this would deal another blow to the travel and leisure industry.' Singapore Airlines dived 48 cents to $10.12 and Singapore Telecommunications eased two cents to $2.47.
Banking shares closed lower. DBS and United Overseas Bank eased six cents apiece to $8.98 and $11.12 respectively, and Oversea-Chinese Banking Corp shed 12 cents to $5.31.
Among property shares, CapitaLand fell 12 cents to $2.47, City Developments retreated 16 cents to $5.67 and Keppel Land slid five cents to $1.71.
Motor vehicle firm Jardine Cycle and Carriage fell 40 cents to $12.66 while agricultural products supplier Olam International rose five cents to $1.68.
亚太股市大多下跌 猪流感疫情令投资者谨慎行事
亚洲股市大多走低，美国和墨西哥爆发的猪流感疫情令投资者谨慎行事，旅游类和航空类股遭受重创，但制药类股走强。香港股市收跌2.7%。
东京股市收盘微幅走高，受大型银行股上涨提振。但由于爆发猪流感疫情的消息导致美元走软，并引发投资者担心美国股市可能对这一消息作出负面反应，东京股市回吐了早盘时的大部分涨幅。日经225指数收盘涨18.35点，至8726.34点，涨幅0.2%。包括东京证交所一部所有股票的东证指数涨3.05点，至833.10点，涨幅0.4%。市场成交量温和，约为20亿股。大阪证券交易所，六月日经225指数期货收盘涨10点，至8750点，涨幅0.1%。
航空和酒店类股大幅下跌拖累香港股市收盘走低，墨西哥、美国和加拿大猪流感疫情的爆发引发了国际旅游业可能大幅下滑的担忧。中资银行股也走低，因在美国运通(American Express)和安联保险(Allianz)合计持有的2.3%的中国工商银行股份有限公司(Industrial & Commercial Bank of China Ltd., 简称：工商银行)股份中，有一半即将解除锁定。恒生指数跌418.43点，至14,840.42点，跌幅2.7%，盘中低点14,798.90点。成交额总计530.1亿港元，高于上周五的517.3亿港元。
中国股市连续第二个交易日走低。受猪流感疫情引发的担忧拖累，猪肉供应商和航空类股下挫。基准上证综合指数收盘下跌1.8%，至2405.35点，上周五跌0.6%。深证综合指数跌3.2%，至794.95点。
澳大利亚股市小幅走高，全天走势振荡。墨西哥爆发猪流感疫情在全球股市引起紧张情绪。基准S&P/ASX 200指数收盘涨19.3点，至3731.6点，涨幅0.5%，市场交投淡静。股指早盘曾一度升至五个交易日高点3780.8点，之后又回落至3680.6点低点。
新加坡股市收盘走低，受到猪流感疫情可能在全球蔓延的担忧拖累。新加坡海峡时报指数收盘下跌34.24点，至1818.61点，跌幅1.8%。下跌股以427比125领先上涨股。成交量为18亿股，高于上周五的14亿股。
东京股市收盘微幅走高，受大型银行股上涨提振。但由于爆发猪流感疫情的消息导致美元走软，并引发投资者担心美国股市可能对这一消息作出负面反应，东京股市回吐了早盘时的大部分涨幅。日经225指数收盘涨18.35点，至8726.34点，涨幅0.2%。包括东京证交所一部所有股票的东证指数涨3.05点，至833.10点，涨幅0.4%。市场成交量温和，约为20亿股。大阪证券交易所，六月日经225指数期货收盘涨10点，至8750点，涨幅0.1%。
航空和酒店类股大幅下跌拖累香港股市收盘走低，墨西哥、美国和加拿大猪流感疫情的爆发引发了国际旅游业可能大幅下滑的担忧。中资银行股也走低，因在美国运通(American Express)和安联保险(Allianz)合计持有的2.3%的中国工商银行股份有限公司(Industrial & Commercial Bank of China Ltd., 简称：工商银行)股份中，有一半即将解除锁定。恒生指数跌418.43点，至14,840.42点，跌幅2.7%，盘中低点14,798.90点。成交额总计530.1亿港元，高于上周五的517.3亿港元。
中国股市连续第二个交易日走低。受猪流感疫情引发的担忧拖累，猪肉供应商和航空类股下挫。基准上证综合指数收盘下跌1.8%，至2405.35点，上周五跌0.6%。深证综合指数跌3.2%，至794.95点。
澳大利亚股市小幅走高，全天走势振荡。墨西哥爆发猪流感疫情在全球股市引起紧张情绪。基准S&P/ASX 200指数收盘涨19.3点，至3731.6点，涨幅0.5%，市场交投淡静。股指早盘曾一度升至五个交易日高点3780.8点，之后又回落至3680.6点低点。
新加坡股市收盘走低，受到猪流感疫情可能在全球蔓延的担忧拖累。新加坡海峡时报指数收盘下跌34.24点，至1818.61点，跌幅1.8%。下跌股以427比125领先上涨股。成交量为18亿股，高于上周五的14亿股。
旅游业惊弓之鸟 云顶名胜世界一起跌
2009/04/27 17:54:51
●南洋商报
在市场预见猪流感的爆发将打击旅游业，并导致旗下博彩及酒店的业务放缓，云顶（Genting，3182，主板贸服股）今日股价受挫，写下5个月来最大跌幅。
云顶今日共下滑了0.28令吉或5.74%，以4.60令吉的价位挂收；子公司名胜世界（Resorts，4715，主板贸服股）亦难逃一劫，闭市时报2.39令吉，下挫0.15令吉或5.91%。
达证券分析员詹姆斯拉特南解释：“只要爆发任何疫病，这些股项皆会受到影响，现在只是投资情绪的问题，毕竟目前还没有任何新闻报导亚洲区域也受到猪流感的侵袭。”
原棕油价格大挫4.3% 另一方面，由于墨西哥在受感染的情况下将减低肉类及谷类的需求，进而影响总是跟随谷类市场波动的植物油价格，大马原棕油价格今日大挫4.3%。
7月份原棕油期货在开始后的几分钟便大跌了110令吉，至每公吨2475令吉的水平。
Source
●南洋商报
在市场预见猪流感的爆发将打击旅游业，并导致旗下博彩及酒店的业务放缓，云顶（Genting，3182，主板贸服股）今日股价受挫，写下5个月来最大跌幅。
云顶今日共下滑了0.28令吉或5.74%，以4.60令吉的价位挂收；子公司名胜世界（Resorts，4715，主板贸服股）亦难逃一劫，闭市时报2.39令吉，下挫0.15令吉或5.91%。
达证券分析员詹姆斯拉特南解释：“只要爆发任何疫病，这些股项皆会受到影响，现在只是投资情绪的问题，毕竟目前还没有任何新闻报导亚洲区域也受到猪流感的侵袭。”
原棕油价格大挫4.3% 另一方面，由于墨西哥在受感染的情况下将减低肉类及谷类的需求，进而影响总是跟随谷类市场波动的植物油价格，大马原棕油价格今日大挫4.3%。
7月份原棕油期货在开始后的几分钟便大跌了110令吉，至每公吨2475令吉的水平。
Source
Friday, April 24, 2009
Still no dividend payout for Genting shareholders
SINGAPORE: If you own Genting International shares, don't bet on receiving dividends anytime soon. It has been almost 20 years since the casino operator last rewarded its shareholders with a dividend payout. And its board of directors warned on Friday that shareholders may have to wait at least a few more years.
At Genting's annual general meeting, several shareholders asked the board when they would finally receive a dividend payout. The answer was "at least five years from now".
Managing director Justin Tan said the company's finances would likely remain stretched for the first few years after the opening of its Resorts World integrated resort on Sentosa in 2010.
This is because the firm has to repay almost S$1 billion in loan each year over the next five years. This is for a loan of almost S$4.2 billion that Genting had obtained from over 20 banks early last year to fund the building of the integrated resort.
But once the company has stabilised its gearing, Mr Tan said, it would definitely reward its shareholders. This answer was good enough for at least one shareholder, who declined to be named.
The shareholder said: "Dividends are important, but until and unless the company has established itself and there is some balance in the company, then it can start paying slowly, stage by stage, in order to keep the shareholders happy, if the company does make money. If it doesn't make money, you have to bear with it for a little while."
Genting's board said it is confident that Resorts World Sentosa will be completed within budget, as labour and material costs have stabilised. As such, the firm has no plans to launch a rights issue to raise more funds.
The board added that the integrated resort is on track for its soft opening in the first quarter of 2010. On day one, four of the six planned hotels at the resort should be ready, as well as a Universal Studios theme park and the casino.
Genting's CEO Lim Kok Thay said he is confident that Resorts World will be able to reach its target of seven to eight million visitors in its first year, and 10 million annually thereafter.
Source
At Genting's annual general meeting, several shareholders asked the board when they would finally receive a dividend payout. The answer was "at least five years from now".
Managing director Justin Tan said the company's finances would likely remain stretched for the first few years after the opening of its Resorts World integrated resort on Sentosa in 2010.
This is because the firm has to repay almost S$1 billion in loan each year over the next five years. This is for a loan of almost S$4.2 billion that Genting had obtained from over 20 banks early last year to fund the building of the integrated resort.
But once the company has stabilised its gearing, Mr Tan said, it would definitely reward its shareholders. This answer was good enough for at least one shareholder, who declined to be named.
The shareholder said: "Dividends are important, but until and unless the company has established itself and there is some balance in the company, then it can start paying slowly, stage by stage, in order to keep the shareholders happy, if the company does make money. If it doesn't make money, you have to bear with it for a little while."
Genting's board said it is confident that Resorts World Sentosa will be completed within budget, as labour and material costs have stabilised. As such, the firm has no plans to launch a rights issue to raise more funds.
The board added that the integrated resort is on track for its soft opening in the first quarter of 2010. On day one, four of the six planned hotels at the resort should be ready, as well as a Universal Studios theme park and the casino.
Genting's CEO Lim Kok Thay said he is confident that Resorts World will be able to reach its target of seven to eight million visitors in its first year, and 10 million annually thereafter.
Source
Resorts World family fun rooms
[top photo: A room in Festive Hotel. The family-friendly hotel has designed most of its room with loft beds for children, while parents will have separate sleeping chambers.]
A room in the Maxims Tower.When Resorts World at Sentosa opens next year, young visitors can crash out in their own loft beds after a day at the Universal Studios theme park.
The family-friendly Festive Hotel has designed most of its 390 rooms with loft beds. Parents have separate sleeping chambers.
For the kids, this means climbing a ladder to their private space for the night. Each loft bed can sleep two children.
Mr Patrick Burke, 51, principal architect at American firm Michael Graves & Associates, which is the architect for the Resorts World, gave the media a sneak preview of the rooms in three hotels at Resorts World yesterday.
The other two hotels are Maxims Tower and Hotel Michael. He said: 'The Festive Hotel is about having fun, and loft beds allow families with kids to share the same room.''
The $6.59-billion casino development is the firm's first project in Singapore. It is also doing the interiors for five of the six hotels on the site.
The three hotels which had the media preview yesterday and Hard Rock Hotel Singapore, which has its own team of designers, are scheduled to open in the first quarter of next year. They will account for about 1,350 hotel rooms out of the 1,800 rooms at the resort. Two other hotels will open later.
Mr Burke, who designed the Walt Disney World Swan and Dolphin Hotels in Florida and Hotel New York at EuroDisneyland Paris, says the perfect hotel room is one that is 'warm and inviting and makes the visitor feel at home'.
But he throws in little surprises to cater to the needs of target guests.
For example, the loft beds and bright colours in the Festive Hotel make it fun for youngsters.
The 120-room Maxims Tower, aimed at high rollers, is furnished with deep woods and rich colours such as red and gold. The bathrooms come with a personal steam room.
The Hotel Michael, which has 470 rooms, is named after the famous American architect Michael Graves. All the rooms will come with a circular shower decorated with blue mosaic tiles, a replica of his personal shower room.
Resorts World at Sentosa says room rates will be announced at a later date.
Thursday, April 23, 2009
STI closes up 0.9%
SINGAPORE - Singapore shares closed 0.90 per cent higher on Thursday as investors picked up bargains following recent declines, dealers said.
The blue-chip Straits Times Index added 16.57 points to end at 1,859.98 on volume of 1.55 billion shares worth $1.25 billion (US$831 million).
Gainers led losers 251 to 198, with 792 issues unchanged.
'It seems as though the correction in the last few days has been enough to get some bargain-hunting underway again,' said a trader at a local brokerage.
Banking shares were mixed. DBS eased two cents to $9.03 while Oversea-Chinese Banking Corp gained seven cents to $5.56 and United Overseas Bank closed 12 cents higher at $11.20.
Among property shares, CapitaLand fell five cents to $2.65 while City Developments climbed seven cents to $5.83 and Keppel Land rose 12 cents to $1.88.
Singapore Airlines advanced 22 cents to $10.82 while Singapore Telecommunications remained at $2.47.
Agribusiness group Wilmar International gained 18 cents to $3.61 and beverage maker Fraser and Neave edged up a cent to $2.60.
The blue-chip Straits Times Index added 16.57 points to end at 1,859.98 on volume of 1.55 billion shares worth $1.25 billion (US$831 million).
Gainers led losers 251 to 198, with 792 issues unchanged.
'It seems as though the correction in the last few days has been enough to get some bargain-hunting underway again,' said a trader at a local brokerage.
Banking shares were mixed. DBS eased two cents to $9.03 while Oversea-Chinese Banking Corp gained seven cents to $5.56 and United Overseas Bank closed 12 cents higher at $11.20.
Among property shares, CapitaLand fell five cents to $2.65 while City Developments climbed seven cents to $5.83 and Keppel Land rose 12 cents to $1.88.
Singapore Airlines advanced 22 cents to $10.82 while Singapore Telecommunications remained at $2.47.
Agribusiness group Wilmar International gained 18 cents to $3.61 and beverage maker Fraser and Neave edged up a cent to $2.60.
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