🌟🌟🌟It is a strange paradox that $Genting Sing(G13.SG)latest H1 financial results showed that its net profit plunged an eye watering 33.5% to SGD 156.1 million, yet it closed up a spectacular 6.4%, making it the single top performing blue chip on the Straits Times Index.

Welcome to the whimsical wonderland of corporate earnings season, where bad news is the catalyst for a massive green candle.

If you look past the scary net profit decline, Genting's Q2 performance was an absolute rocket. Adjusted EBITDA for Q2 hit SGD 210.8 million, surging a spectacular 18% quarter on quarter and 12% year on year.

The actual bottom line squeeze came from heavy depreciation and asset refresh works. Genting is spending massive capital to upgrade Resorts World Sentosa.

While VIP rolling volumes softened, Genting's non gaming segment which includes theme parks, hotels and dining, jumped 6% year on year to SGD 388.6 million.

Management also maintained an unchanged interim dividend of 2 cents per share, keeping local income hunters perfectly content.

Is it still a buy? Yes but it is an accumulation play for patient long term compounders, not a speculative short term flip.

Genting is a rock solid value fortress sitting on a huge SGD 2.95 billion cash buffer. The RWS 2.0 transformation is fully funded and perfectly aligned with the government's Greater Sentosa Master Plan through to 2030.

At these deflated historical prices, you are essentially buying a highly liquid infrastructure monopoly trading at a defensive value baseline.

I would tread with caution but looking to accumulate $Genting Sing(G13.SG)at these prices.