Genting Bhd. Remains 'Credible Proxy' for Recovery in Chinese Tourist Arrivals -- Market Talk

Dow Jones2023-08-03

0332 GMT - Genting Bhd. remains a "credible proxy" for a recovery in Chinese tourist arrivals in Malaysia and Singapore, CGS-CIMB analyst Chong Tjen-San says in a note. Chinese tourists are expected to represent 71%-75% of the 2023-2024 Ebitda of Genting Malaysia and Genting Singapore, Chong says. He reckons Genting's share-price discount to its listed subsidiaries may narrow amid improving tourist arrivals. Chong cuts 2023 core EPS estimates for Genting by 1.2%, but raises his 2024-2025 forecasts by 17% and 16%, respectively, to factor in forecast changes for Genting Malaysia and Genting Singapore. CGS-CIMB cuts its target price for Genting to MYR6.95 from MYR7.35, while keeping its add rating. Shares are 0.2% higher at MYR4.20. (yingxian.wong@wsj.com)

(END) Dow Jones Newswires

August 02, 2023 23:32 ET (03:32 GMT)

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Huat1333
2023-08-04
Huat1333
The more the forecast, the more lower it go......[Grin] [Grin] [Cool] [Cool] [Cool]

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Remains 'Credible Proxy' for Recovery in Chinese Tourist Arrivals -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-08-03 11:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>0332 GMT - Genting Bhd. remains a \"credible proxy\" for a recovery in Chinese tourist arrivals in Malaysia and Singapore, CGS-CIMB analyst Chong Tjen-San says in a note. 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