Genting Hong Kong to dispose of Star Cruises Jetty

The company plans to sell the Star Cruises Jetty in Langkawi, Kedah.

Hong Kong.- Genting Hong Kong has decided to sell the Star Cruises Jetty in Langkawi, Kedah, as part of its restructuring plan after the Covid-19 pandemic. The asset has been put on the market for sale via an international expression of interest undertaken by marketing agent Nawawi Tie Leung in collaboration with their counterparts Hilco Global Ltd of Hong Kong and Edmund Tai (SEA) Singapore.

Brian Koh, Nawawi Tie Leung executive director, told The Edge Markets: “With the opening up of cross border restrictions and the recovery of the cruise and tourism industry, we expect that there will be keen interests from regional industry players, as well as niche infrastructure funds that would be looking at this rare opportunity to acquire such an asset.”

In January, Genting Hong Kong filed for liquidation after a German court rejected a request to release US$88m for its German shipyard unit MV Werften.

Due to liquidity constraints, the company delayed the publication of its 2021 financial results and said further announcements will be made as soon as practicable. It said its shares will remain suspended until further notice following the trading suspension on January 18.