GenM: Outdoor Theme Park to Open in Jan 2019

Genting Group Chairman and CEO Lim Kok Thay told Singapore's Business Times that they plan to open the outdoor theme park by January 2019. For more, go here. For regular update of the construction work on the theme park, go here.

Over the past 2 months, GenM had been hit by 3 negative news; namely, increased casino tax, fallout with 20th Century Fox on the development of the outdoor theme park and huge impairment provision of RM1.49 billion (here). The latest news is a breath of fresh air for this badly beaten stock, which may provide the catalyst for a possible upward re-rating of the stock.


Chart 1: GenM's daily chart as at dec 17, 2018 (Source: Malaysiastock.biz)

The positive vibe may also help Genting, which had also dropped significantly over the past 3 & 1/2 months.


Chart 2: Genting's daily chart as at dec 17, 2018 (Source: Malaysiastock.biz)

For those who have been waiting patiently for a sign to get into these 2 stocks, this one maybe just what a good doctor would recommend. However, given the weak market sentiment, you would do well to buy slowly. Good luck!