- After a poor 1Q23, Resorts World Sentosa (RWS)'s operations and earnings improved markedly in 2Q23 as we had flagged earlier.
- Going forward and barring a global recession, we expect 2H23 to be even better on seasonally more visitors from namely, China. Jul 2023 seat capacity from China to Singapore has recovered to 74% of pre-COVID levels.
- - Read this at SGinvestors.io -
Earnings and dividends within our expectations
- Genting Singapore (SGX:G13)'s 2Q23 core net profit of S$160.6m brought 1H23 core net profit to S$291.8m which was within our expectations at 46% of our full year estimate.
- - Read this at SGinvestors.io -
- See Genting Singapore's dividend date. While the first interim dividend of S$0.015 accounted for only 38% of our full year estimate, we deem it in-line with our expectations as Genting Singapore traditionally declares more dividend in the 2H.
Recovery in 1H23 has been broad based
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.
Yin Shao Yang Maybank Research | https://www.maybank-ke.com.sg/ 2023-08-11
Read also Maybank's most recent report:
2024-11-08 Genting Singapore - Was Not A Great Quarter But Still Deep In Value.
Previous report by Maybank:
2024-08-15 Genting Singapore - Sequentially Weaker But Was Expected.
Price targets by 2 other brokers at Genting Singapore Target Prices.
Listing of research reports at Genting Singapore Analyst Reports.
Relevant links:
Genting Singapore Share Price History,
Genting Singapore Announcements,
Genting Singapore Dividends & Corporate Actions,
Genting Singapore News Articles
