SINGAPORE: A vessel that used to be operated by Genting Hong Kong-owned Dream Cruises will sail from Jun 15 under a new company set up by Malaysian tycoon Lim Kok Thay, who is chairman and board executive of Genting Group.
This came after a US$1.7 billion record loss for the company in 2020 and a US$743 million loss in the first half of 2021. It added that it had"exhausted all reasonable efforts" to negotiate with its creditors and stakeholders. It is also currently in negotiations with banks and interested parties to obtain two other ships formerly operated by Dream Cruises - Explorer Dream and World Dream.
“Genting Hong Kong is under provisional liquidation, and is not joining any of the companies under provisional liquidation. This is a new cruise liner that is being set up,” Mr Au reiterated when asked about Mr Lim’s role in the new company.
What is your corporate governance value as main shareholder of Genting Hk cruise line. Bankruptcy for one group causing huge losses to other minorities shareholders and now set up another line? Totally unacceptable!
It's not complimentary if it has already been paid!! Equivalent value is just another excuse to squeeze more $$. TF with 'gesture of goodwill'?! THEY OWE US THE MONEY!! Just refund our money!
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