
Genting Group bid for the Macau gaming concession
The company that is linked to Genting Group Chairman and CEO Lim Kok Thay has been revealed as a surprise seventh bidder for a Macau gaming concession.
The company that is linked to Genting Group Chairman and CEO Lim Kok Thay has been revealed as a surprise seventh bidder for a Macau gaming concession.
MGM Resorts International recently had a discussion with Malaysia’s Lim Kok Thay family over a potential takeover or investment in Genting Singapore
Genting Group, the gaming conglomerate will pay US12 million, which is around RM53 million to end investor civil court action in the United States over the 2019 exercise
Resort World Cruises, the new cruise line that was recently launched by Lim Kok Thay. They plan to expand sailing to Malaysia and Indonesia from 1 July this year.
Lim decided to relaunch his cruise line business less than two months after stepping down as chairman and CEO of Genting Hong Kong in late January when the company filed for liquidation.
Now, more than two years into the coronavirus pandemic, Kok Thay’s company is headed for liquidation. Genting Hong Kong filed a petition last week to wind up its business in one of the biggest stumbles by a cruise operator since the pathogen pummeled the industry.
According to a report by The Edge Markets, eight of the nation’s 10 richest people, based on Forbes’ 2020 billionaires list, were paid out a combined MYR1.99 billion (US$481 million) in the fourth quarter, led by Public Bank Bhd founder Dr. Teh Hong Piow with MYR668.2 million (US$161.4 million).
Financially-pressured casino cruise ship operator Genting Hong Kong Ltd says it is selling nightclub and restaurant operator Zouk Group to an offspring of the Genting brand’s Malaysian patriarch, Lim Kok Thay, for SGD14.0 million (US$10.3 million).
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