Marina Bay Sands

Koufu to benefit from MBS expansion, new outlet opening a possibility: UOB

SINGAPORE (April 9): UOB Kay Hian is maintaining its “buy” call on Koufu Group with an unchanged target price of 95 cents while highlighting Koufu as a potential beneficiary from the upcoming expansion of Marina Bay Sands (MBS), where the group operates an existing food court.

See: This F&B empire is a steal at current valuations, says UOB Kay Hian

Genting Singapore a likely winner this gaming earnings season, says UOB

SINGAPORE (Jan 28): UOB Kay Hian is maintaining “overweight” on gaming with a “buy” call on Genting Singapore (GENS) at a $1.38 target price, or 10 times 2019 EV/EBITDA, on the notion that the integrated resort (IR) operator’s share price could gain momentum on its bidding for Japan’s IR concessions.  

This comes as the research house expects GENS’s operational performance to outperform that of Marina Bay Sands (MBS), whose VIP and mass market gaming volume continued to deteriorate y-o-y over 4Q18.

Singapore hotels get boost from Crazy Rich Asian tourism boom

(Dec 19): After Singapore’s residential and office markets made comebacks, the next property sector to bet on might just be its hotels.

The hotel industry is heading into 2019 in good shape after boosts to visitor arrivals from the Trump-Kim summit and the romantic comedy “Crazy Rich Asians.” Average occupancy rates touched 87 percent this year, the highest in a decade, property firm Cushman & Wakefield said.

4 things to do this weekend

The Sound of Music
It all began as a Broadway musical in 1959 and then an award-winning film in 1965 starring Julie Andrews can still bring in the crowd. This Rodgers and Hammerstein collaboration is now in Singapore and you are encouraged to be like the von Trapps and make it a family affair.

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Genting Singapore shares up 4.2% at $1.25; in top volume list

SINGAPORE (Oct 26): Shares in Genting Singapore closed 4.2% or 5 cents higher at $1.25 on Thursday with 60.8 million units traded.

This makes the counter the fifth top volume stock on the Singapore Exchange after Jiutian Chemical, Swee Hong, Magnus Energy and Rowsley.

Research house CIMB had in the morning released a broker report maintaining the stock at “add” with a target price of $1.35. Analyst Cezzane See expects Genting Singapore to report 3Q17 adjusted EBITDA of $285.1 million in the upcoming 3Q17 results release scheduled for Nov 6.

High rollers at MBS keep Genting Singapore at 'buy'

SINGAPORE (Oct 26): CIMB is maintaining its “buy” call on Genting Singapore (GENS) with a target price of $1.35.

Marina Bay Sands (MBS) reported a hold adjusted-property EBITDA of US$442 million ($601.8 million), rolling chip volume of US$9.4 billion, non-rolling chip volume of US$943 million and slot handle takings of US$3.7 billion

Las Vegas Sands reports 37% earnings growth in 2Q, announces record quarter for MBS

SINGAPORE (July 27): Las Vegas Sands has announced earnings of US$576 million ($781 million) for the 2Q17 ended June, representing a 36.8% increase, or 73 US cent per diluted share, compared to US$421 million or 53 US cent per diluted share in the same quarter a year ago.

Group revenue for the quarter grew 18.6% to US$3.14 billion from US$2.65 billion a year ago.

Are Singapore’s companies taking the ‘not if, but when’ approach to terrorism?

SINGAPORE (June 9): While companies seize every opportunity to crow about their financial performance to investors, and burnish their public image with information about their social responsibility programmes, they appear to be far less willing to talk about what they do to protect their employees and property from terrorist attacks.

When contacted by The Edge Singapore about their anti-terrorism and security initiatives, many companies in Singapore declined to say anything.

Stand pat on gaming sector amid improving hand

Credit: Getty Images

SINGAPORE (Jan 31): UOB Kay Hian has downgraded the gaming sector to “market weight” after its recent share price run-up on the back of positive newsflow.

According to UOB lead analyst Vincent Khoo, Genting Singapore has seen a run-up of 28% on the back of an unexpectedly strong showing in 3Q as well as a surprising interim dividend announcement.

Marina Bay Sands drawn into China currency control battle against casinos

casino

SINGAPORE (Dec 30): Singapore’s Marina Bay Sands has found itself in the crosshairs as China takes aim at casinos in the region in its battle to keep billions of yuan from flowing out of the mainland.

Beijing is reported to take issue with Marina Bay Sands casino’s China UnionPay voucher scheme, which allows cards users to exchange "resort entertainment" vouchers for gaming chips.

A top official at the People’s Bank of China, which oversees the operation of China UnionPay, told the South China Morning Post that this in breach of China’s strict currency controls.

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