temporarily suspend all payments to financial creditors<\/a><\/em><\/strong> following the suspension of its cruise business due to the pandemic. As of July 31, outstanding debt stood at US$3.37 billion.<\/p>\n\n\n\nOn Friday, the firm\u2019s chairman, Lim Kok Thay, pledged nearly his entire stake in the firm as collateral for loans after Genting Hong Kong’s stock fell 38 per cent as a consequence of the suspension of payments.<\/p>\n\n\n\n
A new filing delivered to the Hong Kong bourse says the firm has settled EUR3.7 million (US$4.4 million) in bank fees that as of the August 19 filing had not been paid.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Malaysian casino cruise company has announced it will hold a meeting with creditors to restructure debts due to the pandemic crisis.<\/p>\n","protected":false},"author":2,"featured_media":9280,"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, a casino cruise operator, is convening an online meeting with creditors to define a consensual debt restructuring solution following the suspension of its cruise business due to the pandemic. The company reported US$3.37 billion in outstanding debt as of July 31, with its chairman pledging a significant stake as collateral amidst financial distress.","focusai_entities":"Genting Hong Kong, Lim Kok Thay","focusai_location":"Hong Kong, Malaysia","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), compliance_legal (0.8), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Debt Restructuring Terms","query":"What are the specific terms and conditions of the proposed debt restructuring plan, and how will they impact various classes of creditors and equity holders?"},{"label":"Operational Viability Post-Restructuring","query":"What is Genting Hong Kong's projected operational viability and cash flow generation capacity post-restructuring, particularly given the ongoing challenges in the global cruise sector?"}],"footnotes":""},"categories":[160,16338,163],"tags":[23716,1619],"class_list":["post-9278","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-east-asia-news","category-finance-news","tag-genting-hong-kong","tag-hong-kong"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9278","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=9278"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9278\/revisions"}],"predecessor-version":[{"id":9288,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9278\/revisions\/9288"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/9280"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=9278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=9278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=9278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}