Troubled cruise operator Genting Hong Kong Ltd. plunged by a record Thursday after shares resumed trading, following warnings from the company in recent days of more defaults due to the insolvency of its German shipbuilding subsidiary.
Part of Malaysian tycoon Lim Kok Thay’s sprawling casino-to-hospitality Genting empire, the Hong Kong cruise firm’s shares slid 56% in the city. They had been suspended since last week.
Lim Kok Thay
Photographer: Nicky Loh/Bloomberg
The company said in a filing to the Hong Kong stock exchange on Thursday that legal proceedings involving a $88 million loan facility related to its German shipbuilding unit are still pending a ...
