Tan Sri Lim Kok Thay has resigned as chairman, chief executive officer and executive director of the company.<\/p>\n\n\n\n\n\n\n\n
Hong Kong.- Genting Hong Kong has announced that Tan Sri Lim Kok Thay has stepped down as CEO\u00a0<\/strong>of the company. Meanwhile, Colin Au has resigned as deputy chief executive officer, group president and executive director.<\/p>\n\n\n\n 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.”<\/p>\n\n\n\n It added: “There is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company.”<\/p>\n\n\n\n Last week\u00a0Genting Hong Kong<\/a> filed for liquidation<\/a>\u00a0after 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 \u201cmaximise the chance of success of the financial restructuring<\/strong>\u00a0and to provide a moratorium on claims by any of its unsecured creditors and to seek to avoid a disorderly liquidation of the company.\u201d\u00a0<\/p>\n\n\n\n The company\u2019s available cash balances are expected to run out on or around the end of January according to the Company\u2019s cash flow forecasts<\/p>\n","protected":false},"excerpt":{"rendered":" Tan Sri Lim Kok Thay has resigned as chairman, chief executive officer and executive director of the company.<\/p>\n","protected":false},"author":176,"featured_media":26544,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Genting Hong Kong announced the resignations of Tan Sri Lim Kok Thay as chairman and CEO, and Colin Au as deputy CEO, following the company's filing for liquidation. This action was taken after a German court rejected a funding request for its shipyard unit, aiming to maximize financial restructuring success and avoid disorderly liquidation amidst dwindling cash reserves.","focusai_entities":"Tan Sri Lim Kok Thay, Colin Au, Au Fook Yew, Genting Hong Kong, MV Werften","focusai_location":"Hong Kong, Germany","focusai_target_profile":"ceo_executive (1.0), regulator (0.8), compliance_legal (1.0), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Genting Group Impact?","query":"What are the potential contagion risks or financial implications for other entities within the broader Genting Group, such as Genting Malaysia or Genting Singapore, following Genting Hong Kong's liquidation and executive departures?"},{"label":"Liquidation Process Next?","query":"What are the immediate next steps in Genting Hong Kong's liquidation process, specifically regarding creditor prioritization, asset valuation, and the timeline for resolution of its German shipyard unit's financial obligations?"}],"footnotes":""},"categories":[157,16338,158],"tags":[23716],"class_list":["post-26511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","category-slider-home","tag-genting-hong-kong"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/26511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=26511"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/26511\/revisions"}],"predecessor-version":[{"id":26519,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/26511\/revisions\/26519"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26544"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=26511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=26511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=26511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}