NST Online Business Times : latest

Posted: 29 Nov 2012 07:24 PM PST

KUALA LUMPUR: Genting Bhd, the Malaysian company which controls casino operators in Southeast Asia, the US and the UK, said third-quarter profit fell 53 per cent as gaming revenue and palm oil prices declined.

Net income dropped to 279.4 million ringgit (US$92 million) in the three months ended Sept 30, or 7.6 sen a share, from 597.2 million ringgit, or 16.2 sen, a year earlier, the company said in a filing to the Kuala Lumpur stock exchange yesterday. Revenue declined 14 per cent to 4.2 billion ringgit.

The company posted its third consecutive quarterly drop in profit after its Singapore unit, which runs one of the island- state's two gaming resorts, reported a 47 per cent slump in net income. Genting Singapore plc plans to open new attractions, including Marine Life Park, on Dec 7 at its Resorts World Sentosa casino resort in the city-state to boost sales.

"The full opening of Resorts World Sentosa will allow the company to capitalise on sales and marketing initiatives that appeal to a wider base of affluent travelers and new markets," Genting said in its exchange filing.

Genting Singapore, which opened its casino resort in the city-state at the start of 2010, reported gaming revenue dropped 20 per cent in the third quarter as slower economic growth and tighter rules curbed spending by gamblers.

Shares of Genting have declined 19 per cent in Kuala Lumpur this year, compared with a 5 per cent advance in the benchmark FTSE Bursa Malaysia KLCI Index. The stock climbed 1 per cent to 8.92 ringgit as of 10:18 a.m. in Kuala Lumpur, set for its biggest gain on a closing basis since Nov. 9.

Genting Malaysia Bhd, a unit operating the only casino resort in the Southeast Asia nation, fell 1.4 per cent to 3.45 ringgit. Genting Singapore advanced 3.6 per cent to S$1.30 in Singapore trading, headed for its biggest gain since Aug. 23.

"Genting's dependency on the volatile Singapore market, which is currently facing some headwinds with the ever-changing government regulations, would be an obstacle to its share price performance in the medium term," Hoe Lee Leng, an analyst at RHB Capital Bhd, wrote in a report today.

Genting last year got 40 per cent of its total revenue from Singapore and another 40 per cent from Malaysia, while the US contributed 10 per cent and the UK accounted for 6 per cent, according to data compiled by Bloomberg.

The group said it lost money in the UK during the quarter, while profit from its gaming business in Malaysia rose 2 per cent, according to the statement.

Genting's plantation division saw profit contributions drop 21 per cent to 122.3 million ringgit, it said yesterday. Pretax profit from power generation more than doubled to 73.6 million ringgit. -- Bloomberg

Carlsberg shares climb on good Q3 results

Posted: 29 Nov 2012 07:28 PM PST

KUALA LUMPUR: Carlsberg Brewery Malaysia Bhd's share price rose 24 sen or 1.95 per cent to RM12.54 as at 10.42 am after posting a
good third quarter financial results.

The alcohol beverage company posted a 25 per cent increase in net profit to RM61.06 million for the third quarter ended Sept 30, 2012 from RM48.85 million a year ago, boosted by its premium beer segment.

Alliance Research said Carlsberg continued to sustain strong growth in the premium beer segment, with momentum spurred by Asahi Beer, Kronenbourg 1664 Lager and Kronenbourg 1664 Blanc brand.

The research house said the company's revenue in the third quarter grew by 2.3 per cent to RM410.8 million, mainly due to strong performance from its super premium beer segment, particularly its locally-brewed Asahi Super Dry, which

rolled out a series of consumer promotions for both on-trade and off-trade channels.

Going forward, Alliance Research said the company is expected to capture new market with its latest imported premium beer, Somersby Apple Cider, which has exceeded its three-month sales volume target since it was launched in July.

The research firm said the outlook for the company is expected to be positive in the fourth quarter with a seasonally higher demand in the upcoming Christmas and New Year celebrations.

Alliance Research also forecasted a full year dividend per share of 62.5 sen from Carlsberg. -- BERNAMA

Kredit: www.nst.com.my

Khamis, 29 November 2012

NST Online Business Times : latest

NST Online Business Times : latest

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