Genting Malaysia Attractive Ahead of Poll - UOB

21 Jun 2012

Genting Malaysia shares, which fell 6.5% over the past few sessions, are attractive for investors ahead of general election, says UOBKayHian. "Past studies show that Genting Malaysia's share price eases in the one to three month period in the lead up to the polling dates, in most of the past five general elections," says the house in a note. It adds, an expected performance improvement in Resorts World New York will help boost the company's Ebitda by 20% quarter-on-quarter in 2Q; it keeps its Hold rating on the shares with a 12-month target price of MYR4.05. Genting Malaysia shares are trading at MYR3.63, 11.6% below the target price. Malaysia's general elections are expected to be held in 4Q.