GENTING SINGAPORE PLC
G13.SI
Genting Singapore - Japan’s casino bill to be deliberated today
- According to a Japanese news source (casino-ir-japan.com), the House of Representatives Members Steering Committee (also known as the Rules and Administration Committee) has referred the casino promotion bill to the Cabinet Committee with the majority of the Liberal Democratic Party (LDP), coalition partner Komeito, and the Japan Restoration Party yesterday.
- This decision was made over objections from the Democratic Party (DP) which had argued that the “conditions for entering the deliberation are not in place”.
- According to the schedule on the House of Representatives website, the cabinet meeting is to be held at 1:00PM (GMT+9) or 12:00PM (GMT+8, Singapore time).
- We believe that the LDP – which previously made serious efforts to gain the understanding of the DP and other opposition parties – has taken an about-turn in seeking support from the opposition. As such, we note that there is a significant chance of the LDP forcing the passage of the bill.
- In this event, we will judge there to be a more substantial probability of Genting Singapore (GS) obtaining a casino license.
- Pending further details from today’s deliberations, we maintain our SELL rating and fair value of S$0.75 for now.
Deborah Ong
OCBC Investment
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http://www.ocbcresearch.com/
2016-11-30
OCBC Investment
SGX Stock
Analyst Report
0.750
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0.750
