Genting Singapore, the arm of Malaysian gaming giant Genting Berhad that operates Singapore’s Resorts World Sentosa and is seeking a Japan IR license, has announced the granting of almost 8 million share awards to staff, including 2 million shares awards to six directors.
The share awards, worth a SG$0.85 each or a combined SG$6.6 million (US$5.0 million) as of 1 March 2021, comprise 5,765,000 granted to “selected employees of the Genting Singapore Group.”
The remaining 2 million shares worth SG$1.7 million (US$1.3 million) have been divided between six directors, of which 750,000 have been granted to each of Genting Group Chairman and CEO Lim Kok Thay and Genting Singapore President and COO Tan Hee Teck.
Another 125,000 share awards have been granted to each of Jonathan Asherson, Tan Wah Yeow, Chan Swee Liang Carolina and Hauw Sze Shiung Winston.
Genting Singapore said vesting of the share awards is subject to pre-determined performance targets being achieved over the performance period.
The company last month reported a profit of SG$69.2 million (US$52.0 million) in 2020, down 90% year-on-year due to the impact of COVID-19.
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