KUALA LUMPUR: GENTING BHD [] advanced in late morning on Tuesday, March 1, on some buying interest after the recent selldown, giving the FBM KLCI a mild boost towards the key 1,500 level.
At 11.06am, it was up 17 sen to RM10.16 with 532,500 shares done.
The KLCI rose 7.75 points to 1,499. Turnover was 368.6 million shares done valued at RM381.19 million. There were 301 gainers, 227 losers and 268 stocks unchanged.
RHB Research recently reduced its fair value for Genting Bhd to RM12.40 from RM12.80 after the fourth quarter earnings ended Dec 31, 2010. However, it maintained its Outperform recommendation.
It had reduced the fair value after taking into account its recently reduced fair value for Genting PLANTATION []s of RM9.20 (from RM9.65), Genting Singapore of S$2.30 (from S$2.40) and Genting Malaysia of RM4.45 (from RM4.50) after their 4QFY10 results; (2) rolling over our DCF valuations for Genting's management fees; and (3) updating Genting's latest net debt (ex-Genting Malaysia and Genting Singapore.
Source: The Edge, 1 March 2011
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