True. Public teh Hong piow 23% shares and HLB Quek Leng chan 64% shares. Others banks BOD mostly cari makan staff🤭. Senang genting get free money untung I take rugi You bear🤣🤣🤣

+1

banks love to give loans to rich fellas/co

even when you dont need it, they can come to you with creative loan package

Correct. Thats Why bank Keep calling. Rmb one manager personally called and offered good interest rate. I Just buat bodoh🤣

Namelessone1973, please do some research lah dey

https://www.businesstimes.com.sg/companies-...ises-subsidiary

Demand for Genting Hong Kong's cruises has dropped significantly since the onset of the Covid-19 pandemic. The company posted a net loss of US$1.72 billion in 2020, widening from the US$159 million loss in 2019.

https://www.ggrasia.com/genting-hk-annual-l...211mln-in-2018/

Casino ship operator and gaming resort investor Genting Hong Kong Ltd has reported a net loss attributable to shareholders of nearly US$210.9 million for 2018, a 13-percent narrowing on the US$242.3-million consolidated net loss registered in 2017.

https://www.theedgemarkets.com/article/gent...-dealt-bad-hand

In FY2016, Genting HK slipped into the red, posting a net loss of US$504.23 million.




EVERY SINGLE YEAR RUGI

SUMMARY
2020- NET LOSS US$1.72 BILLION
2019- NET LOSS US$159 MILLION
2018- NET LOSS US$210.9 MILLION
2017- NET LOSS US$242.3 MILLION
2016- NET LOSS US$504.23 MILLION

This post has been edited by JimbeamofNRT: Jan 29 2022, 01:52 PM

Do you really think this type of biz will be profitable from day 1? The company need to pump in huge amount of capital in the first few years. Look at the loss from 2016 uo until 2019. It is quite clear the company is moving towards profitability if pandemic did not happened. 2020 is the year where the loss went out of control mainly because cruise biz was totally stopped around the world. Its like Genting themepark? They spend so much building it. Do you really think its going to be profitable in the first few years?

apparently you just lazy to read the whole article from 2016

https://www.theedgemarkets.com/article/gent...-dealt-bad-hand

“The China cruise market, which was originally Genting HK’s targeted market for its upcoming mega ships, is seeing a price war as new industry capacity growth has outstripped demand. We believe Genting HK’s first mega cruise ship, Genting Dream, has managed an average occupancy rate of only 80%,” says UOB Kay Hian Research analyst Vincent Khoo in a report.

“In contrast, US cruise ships typically command an occupancy rate of more than 100% for lower berth capacity, which means Genting Dream will need to significantly lift its occupancy rate for Ebitda to break even.”

---------

and the blaming game continues

https://www.theedgemarkets.com/article/gent...perators-demise

Genting's Lim Kok Thay blames Germany for cruise operator’s demise

(Jan 29): Tan Sri Lim Kok Thay, the former chairman of Genting Hong Kong Ltd, which slid into provisional liquidation last week, has accused the German government of walking away from a promise to provide capital to Genting’s shipbuilding unit, whose demise ultimately forced the cruise ship operator to seek court assistance to safeguard its assets.

This post has been edited by JimbeamofNRT: Jan 29 2022, 02:22 PM

Good job Bro. Need more Smart ppl like you

Ex Finance Minister shouldve know better than this. You percaya bulat2 bang Non. kesian...

Hahaha. Level of financial literacy here is too damn low not to mention the understanding of banking sector. Cakap serupa semua pernah kerja bank. Banks make money through lending. If got collateral like mortgage sure charge cheap ie slightly above funding cost. If not, charge higher interest rate. Also, orang tak bayar hutang is BAU for banks. Kalau Genting HK tak bayar hutang RM2.5bn, ada lagi byk loan yg perform or still bayar hutang boleh cover. So, banks sudah kira, overall still untung. Dia pun ada internal credit assessment which was done back in 2012 before covid hit. Bang Non acah2 nak compare zaman AFC 1999 yg NPL ratio close to 20% with loan coverage ratio of only 50%. Now coverage ratio is 130%. Even RM2.5bn is peanut for banks like Maybank, RHB and CIMB combined. Only concern here is if there VIPs agreement between Genting HK and banks mcm Bank Bumiputera dulu. Also, dulu Bank Bumiputera lend more than capital. But, Anwar didnt say anything about it. Now you check how big banks' capital. Sure can absorb this RM2.5bn. Check your facts before kene tipu bodoh2. Even worse, blame shareholders. Even let say I am CIMB's shareholder, you think I can interfere with mgmt. Corporate governance knowledge zero, nak comment sini. Shareholder has not information when deciding which loan to approve la. Only BOD will know if the amount is big, perhaps in this case.

Usually this kind of unsecured loan is revolving facilities. It's kinda like credit card. Normally no collateral one

But the bank also usually not bodo wan. They will usually impose certain conditions on these kind of loan. The most common is the fact that they shareholder cannot change and Genting must maintain its majority ownership or something similar. That way, the bank can be somewhat assured that the parent would do something to save the subsidiary, even tho not foolproof.

At least as an elected representative, He dared to voice out the implication towards majority shareholders being affected by this lopsided loan between Big corporation and normal citizen.

Have You ever heard idiot ministers or Even Ruling government from PN BN PAS MCA MIC commenting? Simple, cronies and proxies everywhere. Go study history If You do not know who are the one helping lim goh tong behind.

Boss as told u shadow director sudah mari🤭

https://www.freemalaysiatoday.com/category/...n-court-filing/

Topkek drag Jho Low and 1MDB case and compare with Genting

Lol. You Must be noobie in corporate world or You have too much shares there🤭