Star stock trading suspended at Star's request

[smeyer418]

Cruise news is reporting that Star's stock has been suspended for trading at Star's request(the parent of NCL) something about an announcement that will affect the stock...some speculation on what it is but I haven't a clue...

[Retired not Expired]

Sounds like somebody is buying or selling something. Remember all the rumors?

[Retired not Expired]

Sounds like somebody is buying or selling something. Remember all the rumors?

[discjoker]

From Jackpot.co.uk

 

http://www.jackpot.co.uk/online-casino-news/casino-tycoon-star-cruises-170107.html

[discjoker]

double post......

[discjoker]

triple post......:rolleyes:

[RSWBADGER]

Cruise news is reporting that Star's stock has been suspended for trading at Star's request(the parent of NCL) something about an announcement that will affect the stock...some speculation on what it is but I haven't a clue...

 

http://sg.news.yahoo.com/070116/3/4600l.html

 

 

SINGAPORE, Jan 16 (Reuters) - Singapore shares hit an all-time high on Tuesday, boosted by gaming firm Genting International, which soared on news that Macau casino mogul Stanley Ho could buy a stake in its sister firm Star Cruises.

Singapore's Straits Times Index ended up 0.09 percent after touching a life time intra-day high of 3,051.75 points. Its previous high was 3,045.18 set on Jan 4.

The main Philippine index closed up 1.7 percent, and Malaysian stock finished 0.46 percent higher -- both rising to nine-year highs.

Indonesian stocks gained 1.38 percent, posting a second day of gains in a row after hitting a two-week low last week. Thai stocks were flat at 0906 GMT.

In Singapore, Genting International rose as much as 14.1 percent and brokers said Stanley Ho's possible stake purchase in Star Cruises , in which trading had been suspended since Friday, could stir greater investor interest in gaming stocks. See [nSIN231407] for a detailed story.

"The deal might add some fuel to speculation that there might be other big boys coming in," said Chan Tuck Sing, a dealer with local brokerage UOB Kay Hian."

"To the extent that it might signal more tie-ups and cooperation among more gambling tycoons, it is a positive development."

Before suspension of trade, Star Cruises had surged by a third to 38.5 US cents.

Malaysia's Genting Bhd. , parent firm of both Genting International and Star Cruises, rose as much as 1.4 percent but closed down 0.7 percent.

"Stanley Ho is considered a strong investor, (and) the market has a love affair with astute investors; so if he is comfortable with this deal, then others will follow," a dealer from a regional brokerage added.

In Manila, ABS-CBN Broadcasting Corp. rose 6.7 percent, while property firm Ayala Land was up 6.5 percent.

Gains in Indonesian stocks were led by Indonesian gas distribution company, Perusahaan Gas Negara (PGN) , which surged 15.5 percent, after being suspended on Monday. Trade in PGN shares was suspended on Monday, after they had fallen by more than a fifth on Friday following news of a delay in a pipeline project. The suspension was lifted on Tuesday. In Kuala Lumpur, Malaysian builder IJM Corp rose 4.2 percent and Malaysia's second-largest lender, Bumiputra-Commerce gained 3.3 percent.

[Don Haynes]

Genting Group has large pockets. Stanley Ho has large pockets. Genting recently won the rights to build and operate this large complex in Singapore. When you consider that the new F-3 150,000 ton ships are being built for something like $800-900 million each, this new resort casino in Singapore is expected to run over $3 billion.

 

I don't see NCL going bankrupt. If anything, this will strengthen Genting Group financially.

[Globaliser]

Through allowing Genting to reduce its capital expenditure outflow into Star?

 

I don't know enough about the players, being so far removed from them normally. But normally one would think of Stanley Ho putting money into the gaming company, not the cruise line!