Genting Hong Kong Chief Executive Tan Sri Lim Kok Thay Resigns

As was announced today, the Chairman and Chief Executive Officer of Hong Kong-listed Genting, Malaysian billionaire Tan Sri Lim Kok Thay, resigned from his offices with immediate effect last Friday (21 January). The resignation of the group’s Deputy Chief Executive Officer, Group President and executive Director of the Company, Colin Au, was also announced. In a company statement it was said that there were “no disagreements” between the two who resigned and the board. This move came in parallel with the appointment of insolvency administrators authorized by the Bermuda Court to develop a restructuring proposal of the struggling company. The company now is in search of suitable candidates to fill the vacancies on its board, the statement concludes.

Most recently, the conglomerate had hit the headlines in connection with the insolvency filing of MV Werften in Germany (we reported on this in our EAP news on 11 Jan 2022). For the cruise company Dream Cruises, which belongs to Genting, a new giant ship is currently being built at the MV Werften shipyard in Wismar, which is almost completed and is said to cost around 1.5 billion euros. (eap)