Genting SP (GENS): Worth a spot in your watchlist
- Recent announcement on additional cash injection into Jeju integrated resort have caused the market to question the viability of the project, amid its challenging gaming business.
- However, we notice that brokers are mostly maintaining their hold rating on the stock, with the fundamental view on GENS still the same.
- Most houses, including MKE, are seeing the most pressing issue, its doubtful debts, to moderate from 3Q16 onwards.
- We believe the stock may be worth placing the stock on your watchlist.
- Any uptick in Singapore's and Macau's tourist arrivals may spark renewed interest in the counter.
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