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24-01-2022, 06:04 PM
Genting Hong Kong CEO Lim Kok Thay resigns after cruise operator files to wind up
HONG KONG (BLOOMBERG) - Genting Hong Kong chairman and chief executive officer Lim Kok Thay resigned, days after the company filed to wind up its business in one of the biggest stumbles by a cruise operator since the pandemic began.
Mr Lim, who owns 76 per cent of Genting Hong Kong, stepped down with effect from Jan 21, the company said in a stock exchange filing. Mr Au Fook Yew also resigned as deputy CEO and president. Neither man has any disagreement with the board, the company said.
More than two years into the global health crisis, Mr Lim’s company is headed for liquidation - and there are signs that operations are unravelling. United States authorities stand ready to seize a Genting ship in Miami over unpaid fuel bills, while online bookings for some cruises have been suspended. The company’s shares are halted in Hong Kong.
Genting Hong Kong is a stark example of how the virus has brought once-thriving businesses to their knees.
Mr Lim founded in 1993 the company that would later become Genting Hong Kong, partly as a way of diversifying risk away from the Genting group’s flagship casino resort in Malaysia. Some three decades on, the billionaire has resigned and the cruise business is buckling.
https://www.straitstimes.com/business/co...ay-resigns
HONG KONG (BLOOMBERG) - Genting Hong Kong chairman and chief executive officer Lim Kok Thay resigned, days after the company filed to wind up its business in one of the biggest stumbles by a cruise operator since the pandemic began.
Mr Lim, who owns 76 per cent of Genting Hong Kong, stepped down with effect from Jan 21, the company said in a stock exchange filing. Mr Au Fook Yew also resigned as deputy CEO and president. Neither man has any disagreement with the board, the company said.
More than two years into the global health crisis, Mr Lim’s company is headed for liquidation - and there are signs that operations are unravelling. United States authorities stand ready to seize a Genting ship in Miami over unpaid fuel bills, while online bookings for some cruises have been suspended. The company’s shares are halted in Hong Kong.
Genting Hong Kong is a stark example of how the virus has brought once-thriving businesses to their knees.
Mr Lim founded in 1993 the company that would later become Genting Hong Kong, partly as a way of diversifying risk away from the Genting group’s flagship casino resort in Malaysia. Some three decades on, the billionaire has resigned and the cruise business is buckling.
https://www.straitstimes.com/business/co...ay-resigns
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