HONG KONG: A cruise ship operator controlled by tycoon Tan Sri Lim Kok Thay (pic) suspended all payments to creditors, triggering a 36% drop in the company’s shares and denting investor confidence in Lim’s wider business empire.
Genting Hong Kong Ltd said it would use its available funds to maintain critical services for the company’s operations and asked creditors to form a steering committee to evaluate a planned restructuring proposal, according to a statement to the Hong Kong stock exchange (pic below) on Wednesday night.
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