As the economic crisis, coupled with A (H1N1) influenza pandemic to reduce the tourists, analysts expect Genting, Malaysia (GENM, 4715, Bhd) as the second quarter of 2009, only sales and revenue decline will occur by year trend.
However, a defense based on the company's earnings and cash-rich, analysts raised the target price to 3.25 ringgit.
Malaysia Investment Bank pointed out that they believe that as tourists in particular, to reduce the number of visitors from Singapore, the company ended the second quarter of 2009, the turnover will be down to single-digit annual growth; the same time, its revenue is expected by year dropped sharply since the second quarter of 2008 net profit luck factor in the improvement of the contrast too high to make this year's level.
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