{"id":33480,"date":"2022-09-14T03:29:22","date_gmt":"2022-09-14T06:29:22","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=33480"},"modified":"2026-04-23T04:55:52","modified_gmt":"2026-04-23T07:55:52","slug":"rwc-buys-genting-hk-cruise-trademarks","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/rwc-buys-genting-hk-cruise-trademarks","title":{"rendered":"RWC buys Genting HK cruise trademarks"},"content":{"rendered":"\n

Genting Hong Kong Ltd’s joint provisional liquidators have approved the disposal of Star Market Holdings to Lim Kok Thay’s Resorts World Cruises.<\/p>\n\n\n\n\n\n\n\n

Hong Kong.-\u00a0Resorts World Cruises Pte Ltd<\/strong>, the company launched by Genting Hong Kong founder Lim Kok Thay<\/a> in April, has purchased Star Market Holdings<\/strong>, the owner of Genting Hong Kong’s cruise trademarks. It wil pay US$3.5m.<\/p>\n\n\n\n

Genting HK expects to record a gain of approximately US$3.3m upon completion, which represents the net recovery after using part of the consideration to settle costs and expenses. After completion of the disposal, Star Market will cease to be an indirect wholly-owned subsidiary of Genting Hong Kong.<\/p>\n\n\n\n

Genting Hong Kong had a three-brand cruise portfolio with focuses on different market segments: Star Cruises,Crystal Cruises and Dream Cruises.<\/p>\n\n\n\n

In its statement, Genting Hong Kong said: “The disposal is driven by a commercial objective to consolidate the ownership of such trademarks and intellectual property rights and to realise an asset of the group for the benefit of its creditors. <\/p>\n\n\n\n

“At the same time, it generates a considerable recovery to the group without compromising the group\u2019s right to use such trademark and intellectual property rights in accordance with the terms of the Licence Agreement.” <\/p>\n\n\n\n

Resorts World Cruises<\/a> made its debut in June with a series of short cruises departing from the Marina Bay Cruise Center in Singapore. The company rehired about 1,600 people for the cruise business <\/strong>including about 70 of its 100 former sales and marketing staff. <\/p>\n","protected":false},"excerpt":{"rendered":"

Genting Hong Kong Ltd’s joint provisional liquidators have approved the disposal of Star Market Holdings to Lim Kok Thay’s Resorts World Cruises.<\/p>\n","protected":false},"author":176,"featured_media":15860,"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's joint provisional liquidators have approved the disposal of Star Market Holdings, owner of its cruise trademarks, to Resorts World Cruises, a new entity founded by Genting HK's founder Lim Kok Thay, for US$3.5 million. This transaction is primarily intended to benefit Genting HK's creditors, generating a US$3.3 million net recovery, while Genting HK retains usage rights to the trademarks. Resorts World Cruises has already commenced operations from Singapore, rehiring approximately 1,600 former Genting HK staff.","focusai_entities":"Genting Hong Kong Ltd, Star Market Holdings, Lim Kok Thay, Resorts World Cruises, Resorts World Cruises Pte Ltd, Star Cruises, Crystal Cruises, Dream Cruises","focusai_location":"Hong Kong, Singapore","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.9), operator_casino (0.7), marketing_crm (0.7), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Creditor Recovery Outlook","query":"What is the projected total recovery for Genting Hong Kong's creditors following this asset disposal, and how does this transaction impact the overall liquidation timeline?"},{"label":"Trademark Licensing Impact","query":"How does the retained trademark usage right by Genting Hong Kong under the Licence Agreement affect Resorts World Cruises' long-term brand strategy and market positioning?"}],"footnotes":""},"categories":[157,16338],"tags":[23716],"class_list":["post-33480","post","type-post","status-publish","format-standard","has-post-thumbnail","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\/33480","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=33480"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33480\/revisions"}],"predecessor-version":[{"id":33506,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33480\/revisions\/33506"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/15860"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=33480"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=33480"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=33480"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}