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Know what you own and why you own it as the saying goes. This is a sin stock and it's an open secret that it's sensitive to taxes and regulations. Political rhetorics by political parties; that's what they are best at and can be dramatic. After all, who doesn't like dramas? :)
yes I've been promoting smetric since 0.11 till date . and I'm proud of it's stock's performance . beating intrinsic values. won't waste time arguing with you, have a good holiday !
Budget around the corner, Nick. Not expecting further hikes on the duties or sales tax. time to say goodbye in the event of higher casino and gaming machine duties.
Darkest before dawn, Alphard. Net short positions doubled over the last several months. Funds/insti are probably protecting their long term interest by increasing their short positions in the near term; budget 2025, FTSE KLCI component review in Nov/Dec, US presidential election, and RWNYC casino bidding which is expected by next year.
ooh ok. the unsecured notes. Its normal to have gaming companies to issue such notes. I think what is important is the ratings of these notes. The announcement on the 17th showing that Fitch ratings is at BBB- which is ok. A BBB (+/-) rating means low expectation of default, good credit quality, adequate capacity for payment of financial commitments, adverse business or economic conditions are more likely to impair this capacity.
I saw the latest Fitch Ratings for Malaysia as a country itself and its a BBB+. GenM's unsecured notes rated by Fitch Ratings at BBB-. Personally, I dont have much concern comparing the country's ratings versus GenM's ratings.
same announcement, Nick. Its listed now and can be traded via SGX-ST. The yield is higher than DY for holding GenM shares. You can choose to be small shareholder of the company by holding GenM shares or "ah long" to GenM by holding the unsecured notes / debt securities; not sure what is the minimum amount though.
the big swing will come when the gaming commission announce the 3 winners for the New York casino license; tentatively end of 2025. Manage your own position well until then for those eyeing RWNYC full casino license.
Thank you GenM mgmt for the total of 15 cents dividend payout in 2024 :) Looking forward to another min 15 cents next year and good news from RWNYC + Miami land sales.
three major negative surprises in the past that resulted in downward revision of its earnings / valuation / growth, hock. (1) Budget 2018/2019 - resulted in highest tax/duties/levies for casino in the region (2) Impairment of Mashpee Wampanoag integrated resort (3) pandemic in 2020. As Is, the revenue has returned to pre-pandemic level. RWNYC full casino license will be key for its growth and failure to secure the full casino license will be detrimental to GenM; unlikely to see valuation higher than 4.0 if you will.