KUALA LUMPUR, Jan 24 — Genting Hong Kong chairman and CEO Tan Sri Lim Kok Thay has resigned days after the cruise operator filed to wind-up its business in what is seen as one of the biggest Asian corporate casualties from the Covid-19 pandemic to date.
Last week, it was reported that after more than two years into the global pandemic, Genting Hong Kong was headed into liquidation, an early indication of which was the news that US authorities were reportedly preparing to seize one of the company’s ships in Miami, Florida over unpaid fuel bills — which also led to online bookings for some cruises being suspended. said that three Malaysian banks’ profits are set to take a major hit as a result of the cruise operator’s woes.
Genting Hong Kong’s liquidation filing came just a week after its German shipbuilding subsidiary MV Werften went into insolvency, after its US$688 million lifeline was pulled back by the German government.