This article first appeared in The Edge Financial Daily on January 18, 2019

KUALA LUMPUR: Joey Lim Keong Yew, grandson of the late Tan Sri Lim Goh Tong, has come out to explain the reason for his three-month leave of absence from the top positions in Australia-listed casino operator Donaco International Ltd.

“I am currently undergoing divorce proceedings that unfortunately have turned very bitter,” said Keong Yew in a statement yesterday.

“The persons affected by this very emotional trauma include not only me, but my two children who are still of very tender age,” he added.

He was responding to The Edge Malaysia weekly report on Dec 17, 2018 that said he had sought a three-month leave of absence from his position as chief executive officer (CEO) and managing director (MD) of Donaco “to deal with health and personal matters”. This was announced by Donaco on the Australian Stock Exchange in early December.

Keong Yew said the personal matter has rendered him unable to concentrate on Donaco.

“Since I cannot give my 100% commitment to Donaco, I think that it is only appropriate that I stand down temporarily until my divorce proceedings are sorted out.

“Crucially, I need to concentrate on building my personal life again and more importantly to concentrate on my children in ensuring that they are not unduly affected by the bitter divorce that I am now going through,” he added.

As a temporary measure, the casino operator has appointed Keong Yew’s brother, Benjamin Lim Keong Hoe, as interim MD and CEO of Donaco.

Keong Yew is the single largest shareholder in Donaco with a 28.1% equity interest, and he jointly holds another 13.03% with Keong Hoe.