S&P maintains Genting International at Hold

Standard & Poor's Equity Research maintains Genting International at Hold, cuts target price to $0.53 from $0.69 following 1H08 results. Incurred operating loss of US$9.6 m vs US$54.2 m operating profit year earlier due to losses at U.K. casinos. U.K. business hurt by lower business volume, write-offs due to rationalization of casinos, higher gaming duties. House expects U.K. casinos to continue performing poorly in near future.