The move comes after a German court WebGenting Hong Kong Limited (Genting Hong Kong) is a leading global leisure, entertainment and hospitality enterprise, with core competences in both land and sea Learn more in our Privacy Policy., Help Center, and Cookies & Similar Technologies Policy. The Group comprises the holding company Genting Berhad (MYX: 3182), its listed subsidiaries Genting Malaysia Berhad (MYX: 4715), Genting Plantations Berhad (MYX: 2291), Genting Singapore Plc (SGX: G13), as well as its wholly owned subsidiary Genting Energy Limited. Today, the Genting Group comprises Genting Berhad and its listed companies; Genting Malaysia Berhad (Genting Malaysia), Genting Plantations Berhad (Genting Plantations) and Genting Singapore Limited (Genting Singapore), as well as its principal unlisted subsidiaries Genting Energy Limited (Genting Energy) and Resorts World Las Vegas LLC (Resorts World Las Vegas). WebGenting Hong Kong Limited 2 The Board of Directors (the Directors) of Genting Hong Kong Limited (the Company) presents the unaudited condensed consolidated interim financial information of the Company and its subsidiaries (collectively referred to as the Group) for the six months ended 30 June 2021, as follows: There was a problem subscribing you to this newsletter. We have worked with Gorga for many years. Authorities have reportedly seized two cruise ships belonging to Genting Hong Kongs Crystal Cruises in relation to a lawsuit over US$4.6 million in unpaid fuel bills. Ltd., Star Cruise Pte. Genting Hong Kong has entered into a Bridge Facility Agreement with its majority owner, Chairman and CEO Lim Kok Thay, that will see it granted access to US$30 million in order to boost liquidity. Genting Hong Kong Genting The GHK-Genting Hong Kong-owned shipbuilding company MV Werften Holdings (MVWH) is reportedly on the brink of bankruptcy after German authorities Liquidation proceedings initiated against Star Cruises, another Genting Hong Kong slumped 56% to close at HK$0.32 in Hong Kong as it resumed trading after being suspended since Friday, ahead of the bankruptcy filing by MV Werften. Public collections can be seen by the public, including other shoppers, and may show up in recommendations and other places. Genting Hong Kong Limited - HKEXnews Then earlier this month, its wholly owned shipbuilding subsidiary, MV Werften, filed for insolvency in a local court in Germany. It was a general theme of the newly built ships going to the NCL and the older vessels owned by NCL being transferred to Star Cruises after being renamed. Clear filter. Genting Hong Kong Dream Cruises World Dream vessel to cease operations on Mar 2 You can change your preferences any time in your Privacy Settings. WebGenting Hong Kong Ltd. operates as an investment holding company, which engages in the business of cruise and cruise related operations and leisure, entertainment and hospitality services. Genting Hong Kong also owns Star Cruises. Want to know more? Resort World buys out Star Cruises for $3.5 million | AGB That came after salvage talks fizzled amid a dispute between German authorities and Genting, as both parties blamed the other for MV Werftens collapse and the potential loss of 1,900 jobs. Like some of its rivals during the pandemic, Genting HK launched "cruises to nowhere" -- starting and ending at the same place -- in an effort to keep its ailing business afloat. Genting Hong Kong Hong Kong-listed Genting Hong Kong, formerly known as Star Cruises Limited, which underwent financial troubles during the beginning of 2022 is the parent Toggle Resort and casino properties subsection, GENT Annual Report 2021_page 1_Corporate Profile, GENT Annual Report 2021_page 2_Our Global Footprint, GENT Annual Report 2021_corporate profile, GENT Annual Report 2021_corporate profile_page 2. Golf's Greatest Holes: Golfing legend Paul McGinley takes television presenter Chris Hollins on a tour of the best golf courses in Ireland and Northern Ireland. It sold Cruise operator Genting Hong Kong said Wednesday it has filed to be wound up, about a week after its German shipbuilding subsidiaries went bankrupt, after the coronavirus pandemic hammered the industry. In the years since, the company has expanded to include Crystal Yacht Cruises, Crystal River Cruises, Crystal AirCruises and Crystal Luxury Air, and Crystal Expedition Cruises. Genting Hong Kong Most operations of Genting Hong Kong will likely cease, although some will continuein an effort to preserve core assets, it said. The German government has blamed Genting for the collapse of the cruise ship builder, putting at risk some 2,000 jobs. Genting Hong Kong Ship-tracking data indicates the vessel docked in the Bahamas on Saturday evening, where a U.S. arrest warrant cant be executed. 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Nicky Loh/Bloomberg Shares of Genting Hong Kong controlled by Malaysian billionaire Lim Kok Thay tumbled on Thursday as the bankruptcy filing of the In a statement to the Hong Kong stock exchange, the company said it had lodged a court filing to appoint provisional liquidators. Something went wrong. Batik tulis handdrawn mega mendung cloud pattern, Splendidly done! Travellers International Hotel Group, Inc. (Travellers), an associate of Genting Hong Kong, opened its first land-based attraction, Resorts World Manila, in the Philippines in August 2009. Genting Hong Kong, a subsidiary of the Genting Group, is trying to avoid insolvency by drawing down a credit facility of about US$88 million. She said one of the things she most enjoyed was waking up with her husband at 6 a.m. to catch the sunrise from the upper deck. Picture used for representational purposes. Genting Hong Kong Ltd. has filed to wind up the company in one of the biggest stumbles by a cruise operator globally after the pandemic ravaged the industry and drove its German shipbuilding subsidiary into insolvency. Variations of a traditional cloud pattern called mega mendung. In a development sure to pique the interest of investors and creditors in Lims former cruise ship firm Genting Hong Kong Resorts World Cruises will set sail from Singapore via Genting Dream, a ship previously owned and operated by Genting Hong Kong subsidiary Dream Cruises. Lim Kok Thays new cruise line to launch first sailing from - IAG THIS WEBSITE USES COOKIES. If the group remains unable to meet its obligations to repay any debts as they fall due or to agree with its relevant creditors on the renewal or extension of its borrowings or any related alternative arrangements, there may be a material adverse effect on the groups business, prospects, financial condition and operating results.. Genting Hong Kong Address : Lim has the familys 1.6 billion Genting Hong Kong shares at risk in the bankruptcy, a holding worth about US$340m at the current suspended share price of HK$0.415, but valued near US$1bn last November, before the restructuring began to unravel. GENTING HONG KONG WebLim also serves as a director of Grand Banks Yachts Limited, a company publicly traded in Singapore with significant subsidiaries in the business of manufacturing and selling luxury yachts worldwide. Etsy uses cookies and similar technologies to give you a better experience, enabling things like: Detailed information can be found in Etsys Cookies & Similar Technologies Policy and our Privacy Policy. Disclaimer | Cookies and similar technologies are used to improve your experience, to do things like: Without these technologies, things like personalized recommendations, your account preferences, or localisation may not work correctly. The news came after Genting's German shipbuilding subsidiaries, MV Werften and Lloyd Werft, filed for bankruptcy earlier this month. The firm, which has offered "seacations" amid a global cruise-to-nowhere trend, reported a record loss of US$1.7 billion last May. Live from Dubai, we bring you the latest global markets and analysis, plus news-making interviews, with a special focus on MEA. Genting Hong Kong Headquartered in Hong Kong, Genting Hong Kong has a presence in more than 20 locations worldwide with offices and representation in Australia, China, Germany, India, Indonesia, Japan, Malaysia, the Netherlands, the Philippines, Singapore, Sweden and the United States. Enjoy an exceptional $500 USD per person ($1,000 USD per suite) air credit for all new bookings on select 2023 cruises when made by July 31, 2023, and set sail on the adventure of a lifetime. Genting Hong Kong subsidiaries Crystal Cruises | Crystal I love this. incredible blue and lovely design! Entertainment & Product was successfully added to your shopping cart. While there are early signs of a recovery and pent-up demand in the leisure travel market, uncertainties prevail amid a renewed spike in Covid-19 infections caused by the Omicron variant. Genting Hong Kong Says Shipbuilder Insolvency to Spark Defaults That came after Dream Cruises sailings that have already been scheduled will proceed, according to a company representative. While the company offered seacations as part of a broader trend of cruises to nowhere, it still reported a record $1.7 billion loss in May. WebStar Cruises was a cruise line headquartered in Hong Kong and operating in the Asia-Pacific market. Genting Genting Hong Kong, a subsidiary of the Genting Group, is in the middle of a court battle with a regional government in Germany. Demand for Genting Hong Kong's cruises has dropped significantly since the onset of the Covid-19 pandemic. Lim family trust issues US$30 million loan Sign up for newsletter today. Genting Berhad Annual Report 2016, profile page. Even though Kok Thay has been dealt a blow in the cruise business, its just one part of his sprawling group, which his father started with the hilltop casino resort now called Resorts World Genting more than an hour by car outside Kuala Lumpur. WebSailing with Crystal has never been easier. [30], In August 2010, Genting Property began construction on an upscale retail destination, Johor Premium Outlets in partnership with Jersey-based Simon Property Group, as part of a wider 7,000-acre (2,800ha) integrated township project in the southern state of Johor. The company is Genting Hong Kong 2023 FleetMon, a brand of JAKOTA Cruise Systems GmbH. VIEWS. The company's deputy CEO, Au Fook Yew, has also stepped down. Genting Hong Kong, which is part of Malaysia's Genting Group, reported a net loss of US$238 million in the first half of 2021, as operations continued to be affected by the COVID-19 pandemic. Genting Hong Kong wont be the last cruise operator to run out of money, he said. WebCruise ship operator Genting Hong Kong Ltd's indirect wholly-owned subsidiary MV Werften Holdings Ltd (MVWH) is reported to be teetering on insolvency as it finds itself in protracted negotiations with the German federal and state governments over long-promised financial assistance to mitigate the impact of Covid-19-driven movement restrictions Genting Hong Kong is listed on the Main Board of the Stock Exchange of Hong Kong Limited under the stock code 678. This simple black and white one is indispensable to my wardrobe (replacing one I bought in Indonesia many years ago and finally wore thin in a few places with constant use.) HONG KONG: Genting Hong Kong's chairman and CEO Lim Kok Thay has resigned, said the company in a stock exchange filing on Monday (Jan 24). This project has the world's biggest swimming pool. The company, which operates under the Genting Group umbrella, We invite you to explore our aggregated product portfolio within MarineTraffic here. Genting Hong Kong said it had "exhausted all reasonable efforts" to negotiate with creditors and stakeholders. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Kok Thay founded the company that would become Genting Hong Kong in 1993, buying ferries from a bankrupt cruise firm to operate them under the Star Cruises brand.