Lim Kok Thay steps down as Genting Hong Kong CEO

Tan Sri Lim Kok Thay has resigned as chairman, chief executive officer and executive director of the company.

Hong Kong.- Genting Hong Kong has announced that Tan Sri Lim Kok Thay has stepped down as CEO of the company. Meanwhile, Colin Au has resigned as deputy chief executive officer, group president and executive director.

The corporate announcement said: “Each of Tan Sri Lim Kok Thay and Au Fook Yew has confirmed that he has no disagreement with the Board.”

It added: “There is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company.”

Last week Genting Hong Kong filed for liquidation after a German court rejected a request to release US$88m in funds for its German shipyard unit MV Werften. The cruise ship operator said the petition was essential to “maximise the chance of success of the financial restructuring and to provide a moratorium on claims by any of its unsecured creditors and to seek to avoid a disorderly liquidation of the company.” 

The company’s available cash balances are expected to run out on or around the end of January according to the Company’s cash flow forecasts