Genting Singapore awards US$1.3m shares to employees

Genting handed out performance-based shares as part of its performance share scheme.

Singapore.- Genting Singapore has granted SGD1.7m (US$1.3m) in performance-based shares to employees, including executive chairman Tan Sri Lim Kok Thay.

As stated in a filing to the Singapore Exchange, the regional hospitality giant has awarded a total of 7,765,000 shares, priced at SGD0.85 per unit, through its performance share scheme.

Around 2m of the total (worth SGD1.7m) were granted to Genting’s directors, including Lim Kok Thay and its chief operating officer Tan Hee Teck, who received 750,000 each.

The rest of the shares went selected employees.

Meanwhile, the company announced that it has put back its planned SG$4.5bn expansion of Resorts World Sentosa until 2022 due to the Covid-19 pandemic.