0336 GMT [Dow Jones] Genting Singapore (G13.SG) +3.7% at S$0.845 on robust volume as expectations of better prospects once Sentosa casino-resort opens early next year offset widely-flagged 2Q09 loss. "We expect strong news flow from Resorts World At Sentosa in the coming months as it gears up for its opening," says CIMB. Notes 2Q09 net loss of S$50.7 million vs S$1.8 million loss in 2Q08 not surprising given hefty pre-opening expenses incurred for Sentosa project. Adds U.K. operations stabilizing after several quarters of weakness, as stringent cost controls, pickup in business volume narrow 2Q09 pretax loss to S$5 million from S$16 million loss year earlier. CIMB keeps Trading Buy with S$1.05 target price. Resistance eyed at last month's high of S$0.875. (FKH)
(END) Dow Jones Newswires
August 10, 2009 23:36 ET (03:36 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.
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