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Monday, January 24, 2022

Tycoon Lim quits as Genting Hong Kong chairman, CEO

 

Lim Kok Thay owns 76% of Genting Hong Kong. (Facebook pic)

HIONG KONG: Genting Hong Kong chairman and chief executive officer Lim Kok Thay has 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.

Lim, who owns 76% of Genting Hong Kong, stepped down with effect from Jan 21, the company said in a stock exchange filing.

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, Lim’s company is headed for liquidation – and there are signs that operations are unravelling.

US 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.

MORE TO COME - FMT

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