Genting Singapore may fund new overseas venture

DBS believes the company will issue perpetual bonds and use it to invest abroad.

Genting Singapore has not indicated how it will spend the proceeds from SGD perpetual bonds issuance, which is expected after Moody's and Fitch both awarded sterling ratings.

But the brokerage firm said the magnitude of the issue alone makes financing likelier to be funneled into international investments.

Here's more from DBS:

With net cash and strong operating cashflows, GENS declared maiden DPS of 1cent. GENS will also be issuing SGD perpetual bonds soon, after obtaining Baa1 and A- ratings from Moody’s and Fitch respectively (highest among gaming companies). No further details provided, but the issue will likely be sizeable as GENS is looking at few investments outside Singapore (potential US$0.5-3.4b equity contribution or capex of US$1.5-10b, assuming 2/3 debt financing). Minimal impact on net gearing (may even reduce) as perpetual bonds are classified as equity.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia