Genting SP: It reported higher revenue from its casino in Singapore but it now lags rival Marina Bay Sands in terms of profitability. It had adjusted Ebitda of S$389.8 million on revenues of S$775 million for the three months ended Dec 2010.
Genting SP: S$1.55 (JP Morgan), S$1.75 ( Macquarie ), $3.00 (CLSA), CITIgroup $2.60, $1.01 (Nomura), S$2.38 (OCBC), S$2.55 (RHB), S$1.73 (Goldman Sachs), S$2.60 (AMResearch)
Tanco: Tanco reached an agreement with Lehman Brothers for the settlement sum of rm144.63 million which would involve the payment of rm44 million cash as well as the transfer and vesting of certain properties at an agreed value of rm100.63 million. It would be paid in five installments over a 12 month period from or at an extended period as might be agreed upon. The cash settlement would be funded through internally generated funds and bank borrowings.
The successful conclusion of the settlement scheme would enable the Tanco Parties to substantially settle all its existing secured debts and there would be a positive impact to the net assets per share of the group as well as a significant reduction in its gearing.
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