True to form,across the Causeway, Genting Singapore Plc, a unit of Malaysia’s Genting Bhd that operates casinos in the UK and is opening an integrated casino resort in Singapore next year, rose 6.1 per cent to 86.5 Singapore cents. So what is in the works? Is the company going to announce anything big tomorrow or this week-end? I guess the two local units will start climbing tomorrow as speculators work overtime to spread sufficiently juicy rumours on both sides of the Causeway.
JP Morgan Chase & Co which covered Genting Singapore Plc, gives it a thumbs-up;an “overweight” rating with the share-price rising to S$1.20. So there is still more upside yet for this stock. Watch the prices of Genting M and Genting Berhad. They are surely due for a re-rating soon.
Postscript: Today(12 Aug), Genting Berhad tumbled 16 sen while Genting Malaysia dropped 7 sen. Let us see whether the price will jumped up in a V fashion the next two days.
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