Genting Singapore downgraded to "hold" by Maybank Kim Eng

Stock Name: Genting Sing
Company Name: GENTING SINGAPORE PLC

Research House: Maybank Kim Eng

Price Call: HOLD

Target Price: 1.08

SINGAPORE (April 23): Maybank Kim Eng has downgraded Genting Singapore to "hold" from "buy", citing limited upside to its $1.08 price target.

The company's Resorts World Sentosa (RWS) likely ceded market share again to Marina Bay Sands (MBS) in 1Q2015, based on Las Vegas Sands' just-released 1Q2015 results, according to Maybank Kim Eng analyst Yin Shao Yang.

While MBS's high-roller volume stagnated q-o-q, it was still better than the 28% decline seen at casinos in Macau, Yin noted.