Frankfurt: Asian tourism and casinos giant Genting’s shipbuilding subsidiaries in Germany filed for bankruptcy on Monday, which one union leader described as a “dark day” for the country’s dockyards.
In October 2016, Genting Hong Kong was entirely sold to the Lim Kok Thay's family-owned unit trust Golden Hope Limited as part of a family business restructuring exercise, separating it from Genting Group but retaining it under ownership of Lim Kok Thay's family
Limited liability means a private company whose owners are legally responsible for its debts only to the extent of the amount of capital they invested. So in business sense there are times you make profit and there are times you lose money. Regardless what is the outcome the liability is limited. As long as the company will retrench accordingly to local labor law and follow bankruptcy regulation, there is nothing bad will affect to group image.
*During 2008 no any investors and global fund institutions can predict Lehman Brother(about 161 years operating) can file bankruptcy. Nowadays no any business or organisation can guarantee able to sustain growth during current virus pandemic and virus variant tsunami season.
Will genm n genting PN 17 if any black swan hits global economic growth , China will never open boarder until other countries achieve zero tolerence in daily covid cases especially western countries !!
@NatsukoMishima Genting group will not PN17 because they have already diversified their business into other non-gambling industry long time ago, eg. plantation, power energy, holdings..etc and they are cash rich company sitting on tons of cash. unlike Airasia where the AA food delivery, AA ride hailing, just started, is burning cash every day and their core business is still airline which most of the planes still grounded that is why trigger the PN17.
Need to wait until Skyworld is open before Genm moves up! Unfortunately the best time to open which is early December was not met! So many investors were left dissapointed! So now Genting is telling us that Skyworld will be opened before CNY! I have my doubts! In fact i gave up! Fortunately i bought Genting instead of Genm! So yeah, Genm will only move if Skyworld is open!
U.S. intelligence agencies point to potential Russian invasion of Ukraine within a month’s time
Russia’s cyberwar campaign against Ukraine exploded in December, a pattern that U.S. intelligence agencies believe could signal a ground invasion within a month’s time.
The new time frame was one of several details that White House press secretary Jen Psaki shared Friday about Russia’s intentions toward Ukraine, a longtime U.S. ally.
Some American military analysts believe Russia has “prepositioned a group of operatives to conduct a false flag operation in eastern Ukraine,” Psaki said.
Covid global report: Omicron alert in southern Chinese city bordering Macau
The southern Chinese city of Zhuhai has suspended public bus routes after announcing it had detected at least seven cases of the highly transmissible Omicron coronavirus variant there and warning residents not to leave the city.
The coastal city, which borders the gambling hub Macau, said late on Friday that Omicron had been detected in one mildly ill and six asymptomatic patients, after mass testing due to a case in a neighbouring city.
Omicron's not the last variant we'll see. Will the next one be bad?
Experts say it wouldn't be surprising if another concerning variant cropped up this year.
The new year rode in on a wave of omicron cases, but will this be the last of the variants, or will a brand-new "variant of concern" emerge in 2022?
Experts told Live Science that they wouldn't be surprised if a troublesome new coronavirus variant crops up this year — but that it's difficult to predict how quickly that variant would spread, how well it would evade the human immune system or whether it would cause more severe disease than prior versions of the virus.
Meanwhile, RAM Ratings noted that Genting’s Malaysian operations have registered strong business volumes since the interstate travel ban was lifted in November 2021 while its overseas operations in New York and the UK have continued to outperform expectations.
Expect more worrisome variants after Omicron, scientists say
Get ready to learn more Greek letters. Scientists warn that Omicron's whirlwind advance practically ensures it won't be the last version of the coronavirus to worry the world.
Every infection provides a chance for the virus to mutate, and Omicron has an edge over its predecessors: It spreads way faster despite emerging on a planet with a stronger patchwork of immunity from vaccines and prior illness.
COVID-19: UK records 81,713 cases and 287 deaths in last 24 hours
The UK Health Security Agency believes England's R number now stands between 1.1 and 1.5 - meaning that every 10 people infected with coronavirus will on average pass the disease to between 11 and 15 other people.
What do we know about the 175,000 people who died of Covid in the UK?
Two startlingly different figures for what is ostensibly the same count have been released within days of each other: the government reported 150,000 Covid-19 deaths days before the UK’s lead statistical agency reported a death toll of more than 175,000.
The difference between the two figures is stark but easily explained: the government’s figures count only those deaths that are known to have occurred within 28 days of a positive coronavirus test. The Office for National Statistics, on the other hand, counts all deaths where the virus was mentioned on the death certificate.
Tougher COVID-19 restrictions needed in WA amid Omicron spread in Perth outbtreak, AMA warns
WA's peak medical body is calling for the state government to immediately ramp up social restrictions in the wake of an apparent spread of Omicron cases across Perth.
WA has recorded 18 cases of COVID-19 in the past week, including five cases announced on Sunday that triggered the return of a mask mandate in Perth and the Mandurah region.
The U.S. surgeon general warns that Omicron has not yet peaked.
Dr. Vivek Murthy, the U.S. surgeon general, warned on Sunday that the Omicron surge of coronavirus cases had not yet peaked nationally, saying that the next few weeks would be very difficult in many parts of the country as hospitalizations and deaths rise.
HONG KONG -- Macao casino stocks bounced higher on Monday with investors seeing draft gaming law amendments unveiled by the city late Friday as good news after two years of COVID-induced gloom.
Sands China led the rally, rising 15.4% during the morning session in Hong Kong, while MGM China gained 12.1%. Wynn Macau, Galaxy Entertainment Group and Melco International Development each rose between 7.2% and 8.2%, while SJM Holdings trailed with a 5% bump. The parent companies of Sands, MGM and Wynn also posted strong gains in New York on Friday, alongside Melco's casino unit.
Genting Hong Kong May File for Liquidation as Funding Dries Up
Says appointment of provisional liquidators is essential
Shares of Genting Hong Kong halted from trade in the Asian hub
Genting Hong Kong Ltd. may file for provisional liquidation as soon as Tuesday after it wasn’t able to secure funds to help it stay afloat following an insolvency at its German shipbuilding subsidiary.
The troubled cruise operator plans to file for provisional liquidation with courts in Bermuda unless it receives “credible proposals for a solvent, consensual and inter-conditional restructuring solution,” Genting Hong Kong said in a filing to the Asian financial hub’s exchange. Trading of the company’s shares has also been suspended.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
cheeseburger
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Posted by cheeseburger > 2022-01-11 19:26 | Report Abuse
If the timing is right, the new theme park shall be ready anytime to greet first customer by 1st day of CNY. Tiger is ready to roar..