Lim Keong Hui, the son of Genting Group Chairman Lim Kok Thay, has stepped down as an executive director and Deputy CEO of Genting Hong Kong.
With the global cruise ship operator fighting for survival amidst growing debts and the suspension of operations due to COVID-19, Genting HK announced Friday that Lim had tendered his resignation to devote more time to other business commitments. The 35-year-old is also Deputy CEO of Malaysian-listed Genting Bhd, Genting Malaysia Bhd and Genting Plantations Bhd.
Lim, who was only appointed Deputy CEO in March 2019, has been replaced in the role by Group President Colin Au Fook Yew, who oversees Genting Cruise Lines and its three cruise brands – Dream Cruises, Star Cruises and Crystal Cruises. Au has worked in various roles within the Genting Group for the past 40 years.
As reported by Inside Asian Gaming, Genting HK is in the process of working with creditors to restructure its debt after announcing it had suspended all loan repayments in order to preserve liquidity amid the COVID-19 pandemic. It also reported losses of US$743 million in the six months to 30 June 2020.
Lim’s father, Genting Group Chairman and controlling Genting HK shareholder Lim Kok Thay, was last week redesignated from Chairman of Genting Malaysia – operator of Resorts World Genting near Kuala Lumpur – to Deputy Chairman with Seri Alwi Jantan taking over as official Chairman. However, IAG has been told the move is simply aimed at fulfilling Malaysian corporate governance guidelines which recommend that the role of Chairman and CEO be held by separate people.
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