Next resistance at 0.46 if manage to stay above the 0.42 level which has turned support !
KIM ENG - Genting Hong Kong (GENHK SP, US$0.42, BUY, TP US$0.54) – Genting Hong Kong reported FY10 net profit of US$67.9m, slightly below our forecast of US$74.9m. The strong turnaround after four years of reported net losses was within expectation. The better YoY performance was a result of all-round improvements in Star Cruises and Norwegian Cruise Line, as well as full-year contribution from Resorts World Manila. The latter generated EBITDA of US$102.0m on US$355.8m of revenue for FY10. Maintain BUY.
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