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Wednesday, May 30, 2018

Genting Spore - Cancellation Of Spore-KL High Speed Railway project could impact the stock negatively in the longer term

Genting S'pore - Mahartir's decision to cancel the High Speed Rail project could negatively impact Genting in the longer term.  When Genting Hotel Jurong was built ,  many analyst questioned the relevant of the  557 room hotel  built in a place with little human traffic  to serve guest from Resorts World Sentosa. When the bilateral agreement for the HSR project was signed  on 13 December 2016, this blog understood the reason . If the Genting Hotel was built with the  sole purpose of benefiting from the HSR, it will be hard to imagine how Genting Singapore will not suffer from the cancellation of the HSR . On the charts , this stock looks like its has peaked at 1.32, a break below 1.23 could see the price acelerating down to 1.13 and 1.04 .
All posts and charts are for educational and illustration purposes only

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