Foreign investors turned net buyers of Malaysia equities in the week ended Dec 14, 2012, accumulating RM678.7mil of equities, after three consecutive weeks of selling.
Foreign investors bought Malaysian equities in the open market relatively aggressively in early Dec 2012. On a net basis, foreign investors bought RM678.7mil. It was the sixth highest in a week in 2012.
The cumulative net inflow of foreign funds to Malaysian equity surged to a positive RM13.4bil. This was more than seven times the amount of RM1.9bil recorded for the entire 2011.
Since January 2010, cumulative net purchase of Bursa Malaysia-listed shares by foreigners stayed above the RM30bil mark at RM30.5bil.
Foreign funds bought every single day in early Dec 2012 to mid Dec 2012.
Local investors continued to withdraw from the market. Retailers were net sellers in mid Dec 2012, selling RM106mil. It added that participation rate stayed depressed, averaging less than RM500mil a day for the second week running at only RM474mil. As for local institutions, they sold an aggressive RM573mil, compared with a net purchase of RM235mil the week before. Daily average participation rate rose to RM1.6bil.
Tuesday, December 18, 2012
Monday, December 17, 2012
Genting UK/Genting Bhd/Genting Malaysia
Tan Sri Lim Kok Thay’s Genting group is quietly revamping its operations in London where more casino friendly laws are being weighed alongside potential job creation.
That’s what Tan Sri Lim Kok Thay is betting on as the group steps up efforts to won premium players in London and to beef up the competitiveness of its offerings in other parts of the UK .
In Oct 2012, constructing work began on Genting UK ’s rm615 million Resorts World Birmingham, an integrated complex with a casino, hotels and etc … that is slated for completion in Jan 2015.
In London , Genting in Dec 2012 shuttered the poker only Fox Poker Club which will be reopened as March 2013 as a Genting casino after renovation.
Genting’s attempt to bolster its UK operations also comes at a time lawmakers are reportedly contemplating legislation changes that would allow easier movement of casino licenses between localities in the UK . British gaming industry players are lobbying for the move to facilitate expansion in better locations. Some politicians are reported to be in favor of it as allowing licenses to be ported from one local jurisdiction to another would mean no additional licenses would be issued.
Tan Sri Quek Leng Chan also seems to be eyeing the London gaming market.
While countries like Japan and South Korea may potentially be new growth markets for the Genting group, should it win a license, there is concern about some cannibalization of existing casino markets.
Industry observers are lowering expectations of Genting being successful in its bid for a full casino license in NY.
Genting had also a presence in Philippines but lacks a presence in Macau . However its UK casino is seeing higher patronage.
That’s what Tan Sri Lim Kok Thay is betting on as the group steps up efforts to won premium players in London and to beef up the competitiveness of its offerings in other parts of the UK .
In Oct 2012, constructing work began on Genting UK ’s rm615 million Resorts World Birmingham, an integrated complex with a casino, hotels and etc … that is slated for completion in Jan 2015.
In London , Genting in Dec 2012 shuttered the poker only Fox Poker Club which will be reopened as March 2013 as a Genting casino after renovation.
Genting’s attempt to bolster its UK operations also comes at a time lawmakers are reportedly contemplating legislation changes that would allow easier movement of casino licenses between localities in the UK . British gaming industry players are lobbying for the move to facilitate expansion in better locations. Some politicians are reported to be in favor of it as allowing licenses to be ported from one local jurisdiction to another would mean no additional licenses would be issued.
Tan Sri Quek Leng Chan also seems to be eyeing the London gaming market.
While countries like Japan and South Korea may potentially be new growth markets for the Genting group, should it win a license, there is concern about some cannibalization of existing casino markets.
Industry observers are lowering expectations of Genting being successful in its bid for a full casino license in NY.
Genting had also a presence in Philippines but lacks a presence in Macau . However its UK casino is seeing higher patronage.