GENTING SP (SGX) 10 MAR 2021
Updated: Apr 13, 2021
Genting Sp, Mkt Cap 10.8b, PE 155, Div yield 1.12%
Genting Sp daily chart showing some indication of uptrend momentum as KST indicator crossed over upward. A few major broking houses had recently issued Buy recommendation with 12-month target price averaging around $1.05. Catalyst to the price move comes from gradual opening up of economy due to roll out of CoVid vaccine. Countries are also planning to issue vaccine passport such as this (https://www.straitstimes.com/asia/east-asia/china-rolls-out-vaccine-passport) to allow safe travel without the need for extra quarantine. Genting Sp is sitting on cash hoard of $4b. Over the years, it had paid down its debt to current level of $250m. Assuming that by next year, operation resume to pre-CoVid norm and it is able to generate back to Operating Cash Flow of $1b per year, this will make it current Enterprise Value of $6.8b rather attractive.
This is an opinion piece. Please always do your own due diligence on the company's fundamentals & assess if the Fundamental / Technical analysis opinions are applicable to your trading/investing needs.
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