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Genting Singapore back in the black

I read in this morning’s online news, The Edge Singapore that Genting Singapore is back in the black with a profit of S$54.4 million in 3Q 2020.

I don’t own Genting shares but still I congratulate Genting Singapore for turning the corner and I hope that their recovery momentum is maintained so that hopefully, more jobs can be created.

What disappoints me is that it was reported that local gamblers returned to RWS casino and contributed to their S$213 million revenue vs their Q2 results of S$6.5 million revenue when CB measures were in place.

More than 10 years ago, the pap government defended their decision to grant casino licences in Singapore by saying that casinos are meant for tourists and foreigners and not Singaporeans lalala…So many simple minded pap supporters and Suckerporeans believed them and endorsed their decision.

Today, much of all those clever and cunning politically correct rhetoric are forgotten by so very many Suckerporeans and large numbers of Suckerporeans are getting into financial quagmire and deep debts thanks to the decision of the very government that they again and again blindly voted for.

Often times, I think to myself that there is no better way to wake-up Suckerporeans than for them to suffer the dire consequences of their electoral choice.

Another example is the delay and further delaying in returning people’s CPF savings in full. What to do? They ask for it!

Casino operators and the pap government are laughing all the way to the banks while so many of our Suckerporeans are throwing tantrums at home, beating their wives, some resort to spreading open their legs, screaming at their children, broken hearted and crying parents, borrowing money legally and illegally here and there, commit crimes to feed their gambling habits, dare not go home and some might even ended up jumping down from tall buildings etc because they got themselves into inextricable debt traps due to casino gambling.
Think.

 

Simon Lim

 

 

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9 Responses to “Genting Singapore back in the black”

  • Police CLOSE DOWN:

    No one put a gun to your head to do the following:

    1) Go casinos
    2) Smoke.
    3) Womanise.
    4) Get married becos of social pressure.
    5) Vote certain parties during GE.

    Cheapo Sing folk only went local becos Malaysian casinos not open to them. Otherwise…

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  • oxygen:

    WITH CPF LOCKED-UP, a lot of Merdeka and Pioneer generations are going to fall into the quagmire of debt-living.

    LEE-jiapore-India bank’s forced-fed of DEBIT CARD – without the informed risks warnings and consents – will see many on the trajectory of EASY-SPENDING, BUY-NOW-PAY-LATER without even remembering their ATM password for the first $100 purchase in each outlet leads the way.

    The MG/PG is now BLINDFOLDED of spending habits without fear and warning of their wallet is DIGITALLY SHRANK if it was filled with cash instead of living on credit WITHOUT BEING VETTED prior for the suitability to access to unsecured banking credit line fed to them by LEE-jiapore-India bank.

    DEBIT CARD IS an example of “SMART NATION” DIGITAL INNOVATION – the sure pathway and gateway onto the trajectory of debt-laden living beyond their means for MGs/PGs.

    IS MAS GOING TO DO SOMETHING ABOUT THIS? Or look the other way?

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  • Machiavellian alter ego:

    That old fox – while surrounded by the valiant old guards during the 80′s – blurted from the rostrum he so much craved for, that it would have to be over his dead body for anyone to establish casinos on this island. Come the 2000s when he had become the Master of the Universe, hey! the bugger closed one eye or both to his son’s 3-G initiatives for two Giant Casinos in little Sinchiapor.

    And which national institutions did he dream up, designed and followed through, other than the MBS and giant casinos?

    MAS, JTC, MINDEF, HDB, NUH, NUS, MOE, MOH, PSA, CAAS, ISEAS, EAI, EDB, SSO, SENTOSA, MANDAI ZOO, BIRD PARK…????

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  • PAP mandate strong:

    Mmm….so many god of gamblers visiting and provide offerings to casino and little willing to offer to techie.

    This say it all.

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  • oxygen:

    @ Simon Lim

    BE VERY CAREFUL when reading online publishing of financial results of any entity.

    Simon Lim: The Edge Singapore that Genting Singapore is back in the black with a profit of S$54.4 million in 3Q 2020.

    That figure derived above from Genting Singapore’s announcement to the stock exchange DID NOT DISCLOSE how it was derived from its EBITDA. No breakdown figures were supplied for its interest, tax, depreciation and amortisation computation.

    Genting Singapore (GS) in that announcement, rightly cautioned potential investors and shareholders NOT TO RELY too much into information in its announcement when making investment decisions in dealings with the shares of GS.

    Depreciation and amortisation are big expense items in GS income statement. It is only quarterly performance figures. The forward qtrs might be very different when wages subsidies from the Government tapers off completely.

    THIS IS NOT INVESTMENT ADVICE, just one man’s view of the world.

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  • oxygen:

    @ Simon Lim

    Here is the weblink to Genting Singapore’s actual announcement to the Singapore stock exchange.

    https://links.sgx.com/FileOpen/Q3%202020%20QUARTERLY%20BUSINESS%20OVERVIEW.ashx?App=Announcement&FileID=639318

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  • opposition dude:

    Ha ha, with so many retrenched and having time on their hands they thought they could make a quick buck or 2 at the casinos but as we all know, the house always wins.

    That, and a fool and his money are soon parted.

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  • xoxo:

    Dont worry, the PAP GOVT will ensure THE CA$INOs will make BIG BUCK$.
    THEY CANNOT FAIL AS LOONG AS THE CLOWN PRINCE is on the *throne*.
    No enough cash, no worrie$, H$K will be ta$ked to dip more into RESERVES to PLUG WHATEVER HOLE$ AND HaLEEma will be too keen to sign off!
    Afterall, if got HOLE$, JUST COLLECT EVEN MORE MONEY even from JOBLESS sgs including cardboard collectors?

    Else, INCREASE MEDISHIT LIE premium and UP MEDICAL COSTS.

    ANY UNCARING IDIOTS CAN GOVERN SG AS LONG AS YOU CAN HOOKWINK 60 PCT OR MORE daft sinkies to vote for you.

    The fact is OUR GOVT SCHOLARS are daft n cowardly ; they are just one notch less stupid than the 60 pct who voted them.

    Talk is cheap.
    Talk is useless.
    Cheap TALK IS DANGEROUS.
    BEWARE!

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  • Simon's Cock Story Again?:

    Why no one checked this dangerous idiot, Simon aka TKL’s half-brother?
    Anyway, the sheeples deserved THEM!

    https://sbr.com.sg/leisure-entertainment/news/genting-singapore-q3-net-profit-crashed-66

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