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If I remember correctly, Genting HK announces its financial result half yearly. So, the next result will be announced at about Feb 2011. Still far far away..
Okay, let me do a draft estimation for its current quarter and full year result.

Points to be considered in the estimation:

  • It comprises of Star Cruises in Asia, Norwegian Cruise Line (NCL) in the US, and Resorts World Manila (RWM) in the Philippines.
  • NCL has reported a net loss of US$14.9 million 3 months ended Jun 2010. However, excluding a non-recurring charge of US$33.1 million related to foreign exchange contracts associated with the financing of Norwegian Epic, net income for the period was US$18.2 million.
  • NCL has reported a net profit of US$93 million 3 months ended Sep 2010. An amazing 510% increase from previous quarter. Since NCL is a 50% jointly controlled entity of Genting HK, that would gives a net profit of US$46.5 million.
  • Resorts World Manila has reported a net profit of US$56.6 million 9 months ended Sep 2010. Since RWM is a 50% associate company of Genting HK, that would gives a net profit of US$28.3 million. Assume that current quarter contributes 70% of the amount which is about US$20 million.
  • Star Cruise - not sure, so let's assume that is US$0. Star Cruise has reported a net profit of US$16.6 million 6 months ended Jun 2010. Assume current quarter profit at US$8.3 million.
For current quarter result

NCL = US$46.5 million
RWM = US$20 million
Star Cruise = US$0 US$8.3 million
Total = US$66.5 million US$74.8 million


For full year result
1H 2010 = US$11.3 million
3rd quarter = US$66.5 million US$74.8 million
4th quarter = US$60 million US$68.3 million (assumption based on 3rd quarter)
Total = US$137.8 million US$154.4 million


According to a UOBKH report dated on 15 Oct 2010, it gives Genting HK a fair price of US$0.39 based on a full year profit of US$115.3 million.

4 comments

Alvis said... @ November 9, 2010 at 12:45 PM

Breakout with high volume - bullish!

Anonymous said... @ November 9, 2010 at 2:45 PM

analysts who do not buy a stock is just analysing for the salary.

the job done is with minimum effort.

wIth that attitude, it can never tbe OUtstanding #

Anonymous said... @ November 9, 2010 at 2:47 PM

paid analysts missed their own fortune.

WORST still
they misled PUBLIC into misfortune ####

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