Brokers' take
Genting Singapore | Hold
July 6 close: S$0.905
Fair value: S$0.95
OCBC Investment Research, July 6
Genting Singapore's (GS) share price continues to languish around the S$0.90 region, just off fresh 52-week low of S$0.895, likely weighed by the lackluster VIP business outlook over the medium term, as well as the recent outbreak of MERS (Middle East Respiratory Syndrome) in the region, especially in South Korea. However, we believe that most of the pessimism should already been priced in.
As before, we believe the GS is really a 2017 story and one with a strong overseas angle. The first being the opening of its integrated resort on Jeju Island, South Korea, and the second will be the building of integrated resor…
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