Genting cruise ship
GENTING group’s biggest problem lies with its 75% controlled Genting Hong Kong Ltd that is in the luxury cruise business. Battling a US$3.3bil debt, its biggest asset is its fleet of vessels that can be used as collateral to raise capital.
But the problem is that there is too much supply of debt tied to the cruise ships in the market now and it may have to pay an expensive price to refinance the debt.
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