The Stock Exchange of Hong Kong has reported that Genting Hong Kong will be delisted from the bourse unless it fully complies with listing rules and resumes trading by July 17, 2023.<\/p>\n\n\n\n\n\n\n\n
Hong Kong.-\u00a0<\/strong>Genting Hong Kong will be delisted from the Hong Kong Stock Exchange if the cruise operator does not address issues that led to a suspension in trade of the company’s shares. It must fully comply with the bourse\u2019s listing rules and resume trading by July 17, 2023.<\/p>\n\n\n\n Genting Hong Kong has been suspended from trading since January 18. It said it will make further announcements on progress as and when appropriate.<\/p>\n\n\n\n It said in a statement: “If the company fails to remedy the issues causing the trading suspension, fully comply with the listing rules to the stock exchange\u2019s satisfaction and resume trading in the shares of the company by July 17, 2023, the listing division of the stock exchange will recommend the listing committee of the stock exchange to proceed with the cancellation of the company\u2019s listing.<\/p>\n\n\n\n “Under Rules 6.01 and 6.10 of the listing rules, the stock exchange also has the right to impose a shorter specific remedial period, where appropriate.”<\/p>\n\n\n\n In January, Genting Hong Kong <\/strong>filed for liquidation<\/a> after a German court rejected a request to release US$88m in funds for its German shipyard unit MV Werften. Soon afterwards, Tan Sri Lim Kok Thay<\/a> stepped down as CEO of the company. Meanwhile, Colin Au has resigned as deputy chief executive officer, group president and executive director.<\/p>\n","protected":false},"excerpt":{"rendered":" The Stock Exchange of Hong Kong has reported that Genting Hong Kong will be delisted from the bourse unless it fully complies with listing rules and resumes trading by July 17, 2023.<\/p>\n","protected":false},"author":176,"featured_media":0,"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 faces delisting from the Stock Exchange of Hong Kong if it fails to comply with listing rules and resume trading by July 17, 2023. The company's shares have been suspended since January 18, following a liquidation filing after a German court rejected funding for its shipyard unit, and subsequent resignations of key executives. This situation underscores significant corporate governance and financial distress within a major global gaming and cruise conglomerate.","focusai_entities":"Genting Hong Kong, Stock Exchange of Hong Kong, MV Werften, Tan Sri Lim Kok Thay, Colin Au","focusai_location":"Hong Kong, Germany","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.85), operator_casino (0.8), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact on Genting Group?","query":"What are the potential contagion effects of Genting Hong Kong's delisting and liquidation on other entities within the broader Genting Group, particularly their iGaming and land-based casino operations?"},{"label":"Regulatory Precedent?","query":"Does the Stock Exchange of Hong Kong's firm stance on Genting Hong Kong's listing compliance set a new precedent for regulatory enforcement within the Asian capital markets, particularly for distressed conglomerates?"}],"footnotes":""},"categories":[157,16338],"tags":[23716],"class_list":["post-29039","post","type-post","status-publish","format-standard","hentry","category-business-news","category-east-asia-news","tag-genting-hong-kong"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29039","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=29039"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29039\/revisions"}],"predecessor-version":[{"id":29047,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29039\/revisions\/29047"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=29039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=29039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=29039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}