Genting Berhad (KLSE : GENTING, stock-code 3182) and its subsidiary Resorts World Berhad (KLSE : RESORTS, stock-code 4715), whose share prices have gained in recent months, have proposed a share split of their 50 sen shares into five 10 sen shares each. Genting and Resorts World said today, 15-Jan-2007, that the share split would not have a direct impact on the companies’ market capitalization but would accordingly reduce their market price to one-fifth of that before the share split.

As of 31-Dec-2006, Genting has 738.7 million shares
while Resort World’s has 1.09 billion shares floated in Bursa Malaysia (KLSE). Upon completion of this share-split, Genting will have 3.69 billion shares whereas Resort World’s will have 5.47 billion shares trading in Kuala Lumpur Stock Exchange.

In United States, a share-split normally shows a particular stock is doing well and normally the stock price will be on uptrend towards the date of share-splits take effect. I believe both stocks will have the same uptrend pattern.
# TIP: These two stocks are amongst the best performing companies for long-term investment. Besides, the management is proven with its’ strong casino business growth (recently won the Singapore Sentosa project) and strong fundamental.
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January 15th, 2007 by financetwitter
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