Genting down 6 sen, GenM eases 3 sen on Genting HK liquidation filing
Published on: Tuesday, January 25, 2022
By: Bernama
.jpg "Genting down 6 sen, GenM eases 3 sen on Genting HK liquidation filing")
A Genting Dream cruise ship returning to Kai Tak Cruise Terminal. (Pic: Nora Tam)
Kuala Lumpur: Shares of Genting Group on Bursa Malaysia was traded cautiously Monday following news that Genting Hong Kong has asked for liquidation before the Supreme Court of Bermuda.As at 12.30pm, share price of Genting was down six sen to RM4.51 with 1.14 million shares traded while GenM’s share price eased three sen to RM2.82 with 1.56 million shares changing hands.
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The group has yet to issue any official statement to Bursa Malaysia.
Meanwhile, news reported that chairman and Chief Executive Officer (CEO) of Genting Hong Kong Tan Sri Lim Kok Thay has resigned, days after the cruise operator said it would wind up its business and install provisional liquidators, after failing to secure funding to pay off its debts.
In a Hong Kong Stock Exchange filing, the company said Lim had stepped down from his posts effective Jan 21, 2022. It also said Au Fook Yew resigned as the deputy CEO, group and president and executive director of the company.
According to another news report, Genting Hong Kong said its cruise operator Dream Cruises has temporarily stopped taking new bookings until Feb 4, 2022.
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It also reported Genting Hong Kong said that the joint provisional liquidators are now exploring the state of business and to identify, examine and explore the options available to them in respect of the company’s future business.
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