KUALA LUMPUR (Oct 18): Genting Hong Kong Ltd (Genting HK) said its share trade will remain suspended until further notice, as the former cruise operator’s joint provisional liquidators (JPLs) do not intend to submit a share-trade resumption proposal to The Stock Exchange of Hong Kong Ltd for now, due to the winding-up of Genting HK and its operating entity Dream Cruises, and as the group contends with the impact of movement restrictions due to the Covid-19 pandemic from early 2020.

"At the present time, the JPLs do not intend to submit a resumption proposal due to, among other things, the winding-up of the company (Genting HK) and Dream Cruises,” Genting HK said in a filing with The Stock Exchange of Hong Kong Ltd on Monday evening (Oct 17).

"An application was made with the stock exchange for the suspension of trading of the shares in the company (Genting HK) with effect from 9am on Jan 18, 2022, and it will remain suspended until further notice,” Genting HK said. 

Genting HK’s JPLs Edward Simon Middleton, Tiffany Wong Wing Sze and Edward Alexander Niles Whittaker prepared the bourse filing.

According to Genting HK, the group is currently not operating any cruises, and that it will not be in a position to resume such operations in the future due to, among others, the winding-up of Genting HK and Dream Cruises.

The group said that cruise operations through its Crystal Cruises, Dream Cruises and Star Cruises businesses were originally its main business operations, besides general travel and leisure services, as well as shipbuilding and design services.

"Certain of the group’s secured creditors have taken enforcement actions over substantially all of the vessel assets of the group,” Genting HK said.

On Oct 10, Genting HK said in a bourse filing the Bermuda Court on Oct 7 ordered that the group and Dream Cruises be wound up.

In addition, the JPLs of Genting HK and Dream Cruises were ordered to continue in their role for both entities, and that their powers shall not be limited, according to Genting HK.