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Report: Genting boss commits own stake for Hong Kong unit’s loans as pandemic takes toll on business | Malay Mail

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KUALA LUMPUR, Aug 21 — Billionaire Tan Sri Lim Kok Thay has pledged nearly all his stake in Genting Hong Kong Berhad as collateral for loans after the cruise operator’s share price tumbled 38 per cent, Bloomberg reported yesterday. The selloff was at record level the business newswire said. The...

Friday, 21 Aug 2020 09:33 AM MYTGenting Berhad’s stock value has plunged by almost two-thirds since December. — Reuters pic

According to Bloomberg, Lim has been pledging more of his holdings as the shares have plunged, committing almost all of his 76 per cent stake or six billion shares in Genting Hong Kong. This was up from 5.5 billion shares in April, the newswire reported. “Many companies hit a bump in the road causing a sudden decline in stock price,” Melbinger was quoted as saying.

 

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