KUALA LUMPUR (March 30): Genting Singapore Ltd executive chairman Tan Sri Lim Kok Thay said the group is revising its S$4.5 billion (approximately RM13.97 billion) mega expansion plan for Resorts World Sentosa (RWS).In the group’s 2021 annual report, Lim said the revision is to ensure that the new expanded integrated resort takes into account the necessary health and safety protocols, while.
The team at RHB Group Research has kept its “buy” rating on Genting Singapore with an increased target price of 95 cents from 90 cents. The new target price is based on an EV/EBITDA of 8.5x from 7.9x previously, with a 2% environmental, social and governance (ESG) discount based on an ESG score of 2.9.
The counters identified are ComfortDelGro, Frasers Centrepoint Trust (FCT), Genting Singapore, Ascott Residence Trust (ART), CDL Hospitality Trusts (CDLHT) and Thai Beverage (ThaiBev). The counters were chosen after the analysts compared their current stock prices with their respective closing prices on Feb 7, 2020, the date that Singapore.
We believe that valuations will partially factor in Genting Singapore’s return to pre-pandemic earnings dynamics. We have a BUY rating on Genting Singapore with a target price of S$1.08 which implies a 2022E EV/EBITDA of 8.8x, or -0.5SD to its historical mean. Towards restoration of normalcy.
(RTTNews) - The Singapore stock market on Wednesday snapped the two-day winning streak in which it had gathered more than 35 points or 1.1 percent. The Straits Times Index now rests just beneath.
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