MTNs are not new and GenM has issued these in the past even before the pandemic. Its either equity financing or debt financing; debt financing is cheaper option compared to equity financing. We have not heard any announcement of major capex or investment for GenM yet which could be one of the reasons for the MTNs issuance. Opex and working capital probably unlikely as it has recovered to pre-pandemic level and generating positive ops cash flow. Another possible reason would be refinancing. If you look at the details of the MTNs in the annual report (AR2023) page 156, you will be able to get the details of all the past MTNs. There's one that was issued back in FY2015 - 1.3bil 10 years MTN at 4.9% coupon rate which has yet to be redeemed. Its possible that the recent MTNs may be used for early redemption of this; the total amount seems to be matching. Just my opinions, could be wrong. Hope it helps.

I have no idea about racing or high debt high interest, TN :) I have read the qr, the annual reports, the gaming industry in US, the risks associated with sin stocks, and I am happy with the quotes/yield from Mr. Market. Not sure what will happen next but that's the fun part of investing. It is alright if Genting/GenM doesn't suits you. Have faith in your own plans. Enjoy your weekends.

The May increase was primarily driven by restaurants and accommodation services plus housing, utilities and gas/fuels category. That makes GenM's yield attractive coupled with the tailwinds for capital appreciations, Ricardo. The next two consumer prices update will give a preview of the impact from the diesel hike.

Its not retailers or manual entries as these transactions are less than a minute time between each transaction, hue. These are probably done using algorithmic trading or sometime known as high frequency trades. There are buy side algorithm and sell side algorithm :) Sometimes, it is purposely done in such way (breakdown the order into many small qty) to avoid triggering the opposite algorithm. Retail investors like us should not use these transactions as buy or sell decision.

Lol, Nick... GenM headwinds in Q2 would have been priced in by now; 2 facilities under renovations. GenS Q2 full quarter impact without hard rock hotel can be a negative surprise. Hopefully GenM can rise up to the occasion to cushion the impact for Genting :)

the big swing pretty much depends on the outcome of RWNYC full casino bid coupled with the miami land sales. not much news from mashpee wampanoag tribe integrated resorts yet. RWNYC and Hudson Valley started strongly for FY24/25; which is a Q2'24 for GenM.

The genm chart is indeed difficult to operate, Nick. Tight range +/-15%. Probably this is due to the fact that its heavily owned by funds/institutions. And there's a bit of divergence between the KLCI index versus GenM right now. It could be pricing in for Q2 due to the two facilities under renovations. At current price and the yield it is offering, not surprising if convergence to follow suit but still within the tight range.

We will know by end of Aug whether Q2 GenM will be able to help Genting group cushion the impact from GenS Q2. Its 2 facilities under renovation impact for GenM versus 300+ rooms taken down impact for GenS. Hopefully volatility will return soon with convergence to KLCI :)

Dont put too much hope on TauRx approval by US FDA by year end, Michael :) (1) I have not seen any agenda scheduled for TauRx by the US FDA advisory committee for now. (2) Its a tough battle to convince regulators to approve it without complete placebo results though it is an oral medication / safety profile from trials.