there would be a specific EAG review scheduled on Sept 16 and CHM scheduled on Sept 17. these two meetings mostly would discuss on the taurx drug.I said this because the specific EAG on Sept 16 is a subgroup for Neurology, Pain and Psychiatry which Taurx drug falls under this expertise.

lets wait for the q3 results and evaluate the mgmt performance by then; particularly cost efficiency :) seasonally strong tourist arrivals in Jul and Aug for SG and summer holidays for RWNYC and RWLV. hold rate for RWNYC is pretty consistent at the 19-20% which is pretty good. July was a strong month for Strip's casinos

There’s sufficient information from the financial and market signals. No need for conspiracy theories :)

The bigger question is cash flow and leverage: TTM Jun-26 operating cash flow was RM3.90b, but capex was RM5.64b, giving negative FCF of RM1.74b. Net debt reached RM28.1b, while interest coverage fell to 1.69x.

So personally, I wouldn’t assume we’ve seen the bottom yet. The key is whether cash generation improves and debt starts coming down.

Dr. Cheng Sifu, perhaps you can advise on the latest status of TauRx and HMTM? That could be an important part of the picture.

no doubt rwlv is improving but ebitda margin has to go higher to twenties; dragged by operating cost/expenses - overhead and fixed cost. show us the results if you will :) lets see how are you doing in Q3 with the summer package. https://www.reviewjournal.com/business/casinos-gaming/resorts-world-enters-its-next-chapter-after-5-years-on-the-strip-3892214/

Genting America Inc vs RAV Bahamas case: Genting filed motion to dismiss the case recently back in May'26 and hearing in progress. no decision from the court on the motion yet. Something else came up in the meantime whereby RAV's boss Capo is being sued by his own son-in-law. Lol, no pun intended. Quickly sort this out and dispose off the Bimini Resort business which is dragging the group. https://www.tribune242.com/news/2026/jun/16/capo-son-in-laws-two-decade-tax-fraud-claim/

The Miami land turning into Miami Bay Towers. The project is a proposal by the Gómez Platero architecture firm that envisions four towers, a 300-room hotel, retail, and public spaces. Right now, it's just an idea, and has not been approved for construction. - In 2023, Genting announced a deal to sell the property for about $1.225 billion to SmartCity Miami, a group linked to developer David Martin and Terra. Local leaders greeted the announcement with optimism. Then-Mayor Francis Suarez even publicly highlighted the site’s strategic value. But the transaction never closed. SmartCity sought extensions and changes to the deal terms—requests Genting rejected. The offer was ultimately withdrawn, and the property remained under the control of entities tied to Genting.

What’s being proposed now?
Based on the available information, the property remains linked to Genting. In 2025, filings were also made with the Federal Aviation Administration (FAA) related to towers between 642 and 645 feet tall—another sign that options for developing the site continue to be explored. The proposal presented by Gómez Platero calls for four staggered towers, with open spaces between the buildings to preserve bay views and encourage natural light and ventilation.

The plan includes about 689 residences, a 300-room hotel, shops, restaurants, a marina, and a public waterfront promenade. It also envisions phased construction, with two towers in the first phase and the other two later.

How viable is the project?
Gómez Platero describes Miami Bay Towers as being in the concept and schematic design phase—an early step in the planning process. That means it still lacks all the required regulatory approvals and does not yet have an official construction timeline.
Not all the key elements needed to deliver a project of this scale—such as final permits or construction financing—have been publicly announced either.

Even so, today’s context is different from years past. The area around the former Miami Herald site has undergone a major transformation and continues to attract real estate investment. And the location along Biscayne Bay—near the Pérez Art Museum Miami, the Adrienne Arsht Center, and several public transit options—keeps the property among the most appealing on the local market.

whether approve or disapprove, the taurx decision would be given by Oct or Nov. just two more months the most. Gent price has already been at rock bottom. if you are still holding until now, you can hold for another 1.5-2 months. you may not recover back your rm6-8 entry price but with the approval, gent should recover back to rm4++ due to taurx valuation. if disapprove, well there s no more impact to Gent as Taurx was never in its valuation all this while.

TauRX Cheng, Genting, huh? Hahahhaha, Nice assets. Nobody is arguing that. But the annoying question is ....... if it’s so undervalued, what exactly wakes Mr Market up?

SOTP looks beautiful on Excel, but Excel doesn’t buy shares. Good assets can still become a bad investment if returns stay mediocre and capital keeps getting stuck.

So what’s the catalyst? Better ROIC? Stronger cash flow? Buybacks? Asset monetisation?

Also, for transparency ..... what’s your average entry price on Genting, and how many lots are you holding? Because conviction is always easier to measure when real money is on the table. 😏

Are we buying a hidden gem… or just waiting for tourists who never arrive? 🎰

HAHAHA

TauRx Cheng, how much longer are you going to hold?

From 3.50, you kept saying, “Hold first, hold…TauRX...coming” But now it’s down to 1.80 and you’re still holding?

As an forum guru, didn’t your remisier ever teach you how to cut your losses? 😅must be holding paper loss of many companies... no pun intended too.

Genting Malaysia's 2Q26 net profit dropped 89% YoY to RM47.4m. The New York project is still ramping up, with depreciation, financing and operating costs weighing on earnings. The future may look beautiful, but remember: future profits don't appear in today's bank account. No pun intended.

New York tax risk....The potential New York gaming-tax burden is another one to watch, with reported effective rates potentially reaching around 72% on slot-machine revenue including related payments. If the government takes a giant bite, shareholders get the leftovers. S

Not looking good when so many Corporate Malaysia PLCs looking to raise funds amidst increasing global borrowing costs. Rights issue or shares placement seems to be the only way forward at present as raising borrowings via financial institutions or private credit will be extremely difficult and expensive in 2026/2027.

The rights issue will not change the existing shareholders paper loss situation, Vin. Not much details for key dates in the document except 1st qtr of 2027 completion. Importantly is not to let it lapse/expire or do nothing about it. Whether to pick up the rights / how much to pick up / sell the rights will depend on (1) your current position size and whether are you willing to add more funds to pick up the rights; increasing your Gent's position (2) sell the right shares if you are not willing to add more funds for your Gent's position.

Theoretical ex-rights price derived from the 5-day volume-weighted average market price might be ~ RM1.26, if we assume a sharp discount of 30% from current average price (RM1.80) as existing shareholders might not be happy with the rights issue. Let’s see the share price reaction next week.

my previous experiences with some other right issues exercise was that the bosses may pump up the share price to push a higher 5 day volume weighted average price so they could price the rights as higher price. once the right exercise completed, the share would correct back. so do take note on that

I saw that too, Eddy. Is it possible to sell half and buy half from your past experience, Eddy? I am thinking to subscribe using the amount received from selling the right shares? Basically, I don't want to pay to subscribe if possible.

Do you know? Genting has been divesting selected energy interests. Selling assets can be sensible capital recycling, but investors should ask why the asset is being sold and where the proceeds are going. If proceeds are used to reduce debt, that's positive. If they're simply funding another large capex programme, the leverage problem may just move around.

borrowing at rm45 billion and to raise rm800 million to just pay debts? the number doesn't jive. they might as well diversify some US assets and raise rm4-5 billion instead. there could be more to the rights issues than it seems. bosses hoping 15-20% won't subscribe and dilute their holdings? let s wait and see.

看来 Cheng 的因果终于来了咯！😂😂

之前一直笑 Zetrix 的 development cost 太高，又拿 Sukuk 还款问题来讲，好像自己什么都懂，别人都是傻瓜。

哎哟，Teacher Cheng，轮到你自己的 Genting 了！长期持有那么久，现在面对供股集资还债的问题，你又有什么看法呢？当初笑 Zetrix 的时候，不是讲得头头是道吗？

Teacher Cheng，请问一下，这是 赛吧2.0 吗？ 🤣🤣🤣

笑别人之前，先看看自己的投资组合啦！五十步笑百步，有什么好得意？

股市就是这样，今天你笑别人，明天市场也可能给你上一课。投资最重要的是看公司的基本面、债务、现金流和管理层，不是天天拿别人的问题来取笑。

Teacher Cheng，做人低调一点啦！风水轮流转，市场还没结束，谁也不要太早开香槟！😂🍿

Eddy, I have the same thoughts too. It doesn’t make sense to do the cash call just for RM800M debt repayment to save interest. Furthermore, GB has more than RM4B cash at company level, which makes the RM400 working capital raised even more unnecessary.

Full subscriptions basis and 25% to 30% discount from TERP - the boss is going to get the full 1.25bil and someone will buy it given the discount. Existing shareholders decision is kinda transparent as the price difference when price drops to TERP is covered by right shares they received. It's the longer term question - lower nav and dilution due to more shares/new shareholders vs 1.25 bil cash/funding for the short term

Nothing is fixed yet, Vin. Bursa approval, EGM approval and then issue price, entitlement date/price fixing date, etc... If the RI is at 1.30, that means the TERP price is 25% to 30% higher above 1.30 which is around 1.75 to 1.80. And if market price moves to 2.00, that means market is optimistic with the 1.25bil funding probably.

you are welcome, Vin. I have no idea what LKT is trying to do and I kinda agree with Daniel. If we were to look at the annual report 2025 and the numbers as of Q2FY26, one will wonder what is the impact of 1.25bil apart from the official reason of short term funding. Just a quick & gross numbers for reference: Total debt as for Dec'25 was 40.8bil and 45.2bil as of Jun'26. The main driver was short term borrowings which has increased from 4.1bil as of Dec'25 to 9.6bil as of Jun'26. Total cash eq excluding short term investments (~1.1bil) as of Dec'25 was approx 18.5bil and 18.1bil as of Jun'26. Total net book value for the list of properties held as of Dec'25 was approx 47bil with RWLV being the largest at approx 14bil; followed by GenS, RWNYC and RWG. Looking at the balance sheet and assuming list of properties held being liquidated at net book value + 100% cash eq will be more than sufficient to meet the claims from lenders, landlord/lessors, creditors, minority interests and shareholders. The same applies even if a 30% discount applied to the net book value of all the properties held + 100% cash eq. The shareholders claim (balance amount after deducting claims by lenders, landlord, creditors and minority interest) divided by nosh is still higher than current market price. Current market price is ~50% discount to the net book value of the properties held. Positive rerating will be dependent on the performance of the top 4 asset - RWLV, GenS, RWNYC and RWG. With the additional 25% to 30% discount to TERP price and assuming market price stays around 1.8-1.90, it will be interesting to see what happens after TERP price and ex date :)

It will not just be Genting Group but a lot of other highly indebted PLCs will need to raise funds via equities since borrowings from financial institutions and private credit will not be easy and expensive in view of the rising global yields and risks. Investors in highly indebted companies must be prepared to take up rights issuance to avoid dilution.

Cheng ahhhh!!! 😂 You taking us to Holland, and we trusted you!

But where is the TauRx you promised us?! 🤣

We packed our bags, bought the tickets, and followed you all the way… now you want to leave us stranded ah?

Cheng, where is our TauRx?! Don't simply make promises and let us wait until the tulips bloom!🌷😂