Genting Hong Kong

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Genting Hong Kong Ltd.

logo
legal form Corporation
ISIN BMG3924T1062
founding 1993
Seat Hong KongHong Kong Hong Kong
management Tan Sri Lim Kok Thay
Number of employees 6269
sales 571 million US dollars
Branch tourism
Website www.gentinghk.com
Status: 2014

Genting Hong Kong was founded in the Isle of Man on November 10, 1993 under the name Galactica Limited and is an Asian tourism company operating the cruise brands Star Cruises , Crystal Cruises and Dream Cruises .

Statue of Lim Goh Tong , founder of the Genting Group
SuperStar Virgo at anchor near Phuket , Thailand

Genting Hong Kong holds 13.3 percent stakes in the cruise company Norwegian Cruise Line and in the Filipino hotel complex Resorts World Manila . The company has been listed on the Hong Kong Stock Exchange since 2010 . The Malaysian Genting Group is the main shareholder. Since 2016 it has also owned four German shipyards.

history

The company was founded under the name Galactica Limited on November 10, 1993 on the Isle of Man and was owned by the Malaysian businessman Lim Goh Tong . The business as a cruise line began in December 1993.

On April 16, 1997, the company was converted into a public limited company and later renamed Star Cruises PLC . On March 2, 1998 the company went public in Luxembourg and on April 3, 1998 a second listing followed in Singapore . On November 30, 2000, Star Cruises switched to the Hong Kong Stock Exchange and discontinued the listing in Luxembourg.

When the company acquired a 50 percent stake in its subsidiary Travelers for $ 335 million from the Philippine Alliance Global Group on July 31, 2008 , the two companies formed a joint venture to build hotel and casino complexes in the Philippines . In August 2009, the Resorts World Manila opened in the immediate vicinity of the Ninoy Aquino International Airport in Manila .

In November 2009, Star Cruises Limited was renamed Genting Hong Kong Limited . The new company name was intended to underline the strategic diversification beyond the traditional cruise business to tourism offers on land such as holiday parks and casinos and at the same time signal the affiliation to the Genting Group on the one hand and the solidarity with the company's headquarters in Hong Kong on the other. Star Cruises was retained as a brand .

After Norwegian Cruise Line Holdings went public in January 2013, Genting Hong Kong's stake in the company fell from 50 percent to 43.4 percent. In the course of share sales, the share initially fell further to 37.7 percent (August 2013), then to 31.4 percent (December 2013) and finally to 27.7 percent (March 2014). After a capital increase by NCLH in November 2014, the stake was reduced to 25 percent. Further sales of securities reduced the stake to 22.1 percent (March 2015), then to 17.7 percent (May 2015) and finally to 13.3 percent (August 2015).

On May 15, 2015, the purchase of the luxury cruise operator Crystal Cruises from the Japanese Nippon Yūsen for a price of 421.5 million US dollars was completed. The Genting Group now owns two luxury cruise ships , the Crystal Symphony and the Crystal Serenity , both of which have space for around 1,000 passengers. In addition, Genting Hong Kong gave an order for three new ships of the Exclusive Crystal class at Lloyd Werft in order, the first of which should be completed towards the end of the 2018th

In September 2015 Genting Hong Kong acquired the majority (70%) in Lloyd Werft Bremerhaven, at the beginning of January 2016 the remaining shares in Lloyd Werft Bremerhaven AG and Lloyd Investitions- und Verwaltungs-GmbH were taken over.

In March 2016, Genting Hong Kong bought the three shipyards of Nordic Yards in Wismar , Warnemünde and Stralsund , the purchase price was 230.6 million euros. The background to the transaction is the development of our own manufacturing capacities for cruise ships. The three shipyards produce cruise ships under the name MV Werften .

In 2016, when the Genting Dream came into service, a new brand, Dream Cruises, was founded.

In August 2020, Genting Hong Kong announced the temporary suspension of payments to creditors and banks due to the economic consequences of the COVID-19 pandemic .

Individual evidence

  1. ↑ a b c d Annual Report 2014
  2. ↑ a b c Interim Report 2015. (PDF; 1.4 MB) Genting Hong Kong, August 20, 2015, accessed April 10, 2016 .
  3. ↑ Group Profile - Star Cruises Limited ( Memento of the original dated December 6, 2012 in the web archive archive.today ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice.  @1@ 2Template: Webachiv / IABot / www.genting.com
  4. ↑ Annual Report 1999. (PDF; 3.9 MB) Star Cruises, May 19, 2000, accessed on April 12, 2016 .
  5. ↑ Star Cruises' listing in Hong Kong. Star Cruises, November 30, 2000, archived from the original on April 12, 2016 ; Retrieved April 12, 2016 .
  6. ↑ Discloseable Transaction With Alliance Global Group, Inc. To Jointly Develop And Operate Hotel And Casino Complexes In The Republic Of Philippines. (PDF; 116 kB) Star Cruises, August 8, 2008, accessed on April 10, 2016 .
  7. ↑ Annual Report 2009 (PDF; 3.2 MB) Genting Hong Kong, March 25, 2010, accessed April 10, 2016 .
  8. ^ Change of Company Name. (PDF; 43 kB) Genting Hong Kong, November 19, 2009, accessed April 9, 2016 .
  9. ^ Proposed Change of Company Name. (PDF; 50 kB) Star Cruises, September 11, 2009, accessed on April 9, 2016 .
  10. ^ Crystal Cruises was bought by Genting Hong Kong (NCL). Ships and Cruises, March 3, 2015, accessed March 3, 2015 .
  11. ↑ Lloyd Werft Bremerhaven builds three luxury cruise ships for Crystal Cruises. In: Schiffsjournal.de. July 20, 2015, accessed July 20, 2015 .
  12. ↑ Genting joins Lloyd . In: Daily port report of September 18, 2015, p. 1
  13. ↑ Genting Hong Kong buys Lloyd shipyard in full. In: Cruisetricks.de. January 4, 2016, accessed January 4, 2016 .
  14. ↑ Frank Binder: Genting buys all of Lloyd Werft · Malaysian group also takes over the remaining shares worth 16.47 million euros . In: Daily port report from January 6, 2016, p. 15
  15. ^ Franz Neumeier: Genting Hong Kong buys three German shipyards. In: Cruisetricks.de. March 2, 2016, accessed March 8, 2016 .
  16. ↑ Stefan Ludmann: MV Werften: parent company in turbulence. NDR, August 20, 2020, accessed on August 22, 2020 .

Web links

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