{"id":34519,"date":"2022-10-18T07:33:14","date_gmt":"2022-10-18T10:33:14","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=34519"},"modified":"2026-04-23T03:51:51","modified_gmt":"2026-04-23T06:51:51","slug":"genting-hk-share-trading-to-remain-suspended","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-hk-share-trading-to-remain-suspended","title":{"rendered":"Genting HK share trading to remain suspended"},"content":{"rendered":"\n

The company’s winding up has been ordered by the Bermuda Court.<\/p>\n\n\n\n\n\n\n\n

Hong Kong.- Genting Hong Kong’s joint provisional liquidators have announced that the company’s share trading on the Hong Kong Stock Exchange<\/strong> will remain suspended until further notice.<\/p>\n\n\n\n

Genting Hong Kong stated through a company filing: “At the present time, the JPLs do not intend to submit a resumption proposal due to, among other things, the winding-up of the company (Genting HK) and Dream Cruises.”<\/p>\n\n\n\n

A week ago, the company announced that its winding up had been ordered by the Bermuda Court<\/a>. The announcement also mentioned Dream Cruises Holding Ltd<\/strong>, an indirect non-wholly-owned subsidiary of the company. <\/p>\n\n\n\n

In January, Genting filed for liquidation<\/a> after a German court rejected a request to release US$88m for its shipyard unit MV Werften<\/strong>. In July, the cruise ship operator<\/a> reported that various non-core subsidiaries had entered into insolvency proceedings in the relevant jurisdictions, including Australia, Hong Kong, Malaysia, Singapore and the United States.<\/p>\n\n\n\n

Currently, the group does not operate any cruises, and it stated that it will not be able to resume such operations in the future. The company also revealed that some of the group\u2019s secured creditors “have taken enforcement actions over substantially all of the vessel assets of the group.”<\/p>\n\n\n\n

In September, Resorts World Cruises Pte Ltd<\/strong>, the company launched by Genting Hong Kong founder Lim Kok Thay<\/a> in April, purchased Star Market Holdings<\/strong>, the owner of Genting Hong Kong\u2019s cruise trademarks. The company 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":"

The company’s winding up has been ordered by the Bermuda Court.<\/p>\n","protected":false},"author":176,"featured_media":26763,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Bermuda Court has ordered the winding-up of Genting Hong Kong, leading to the continued suspension of its shares on the Hong Kong Stock Exchange. Joint provisional liquidators have no intention of proposing a resumption, citing the liquidation of both Genting HK and its subsidiary, Dream Cruises, following multi-jurisdictional insolvency proceedings and secured creditor enforcement actions. Concurrently, Genting Hong Kong founder Lim Kok Thay has launched Resorts World Cruises Pte Ltd, which has acquired Genting Hong Kong's cruise trademarks and rehired former staff, signaling a strategic pivot and potential re-entry into the cruise vertical under a new corporate structure.","focusai_entities":"Genting Hong Kong, Dream Cruises Holding Ltd, MV Werften, Resorts World Cruises Pte Ltd, Lim Kok Thay, Star Market Holdings, Bermuda Court, Hong Kong Stock Exchange","focusai_location":"Bermuda, Hong Kong, Germany, Australia, Malaysia, Singapore, United States, Marina Bay Cruise Center","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.95), operator_casino (0.85), investor_analyst (0.95), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact on Creditors","query":"What is the estimated recovery rate for unsecured creditors of Genting Hong Kong and its subsidiaries, given the secured creditor enforcement actions and multi-jurisdictional insolvency proceedings?"},{"label":"Future of Resorts World","query":"How will Resorts World Cruises Pte Ltd's operational strategy and capital structure differentiate it from the former Genting Hong Kong cruise operations, particularly regarding regulatory compliance, governance frameworks, and market positioning within the leisure vertical?"}],"footnotes":""},"categories":[157,16333],"tags":[23716],"class_list":["post-34519","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-genting-hong-kong"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/34519","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=34519"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/34519\/revisions"}],"predecessor-version":[{"id":34535,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/34519\/revisions\/34535"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26763"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=34519"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=34519"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=34519"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}