Lim Kok Thay redesignated as Genting Malaysia deputy chairman

Lim Kok Thay redesignated as Genting Malaysia deputy chairman
-A +A

KUALA LUMPUR (Aug 28): Genting Malaysia Bhd said Tan Sri Lim Kok Thay had been redesignated as the deputy chairman and chief executive of the hotel and casino operator with effect from yesterday.

"Tan Sri Lim Kok Thay, the chairman and chief executive/non-independent executive director, has been redesignated as the deputy chairman and chief executive of the company with effect from Aug 27, 2020," Genting Malaysia said in a Bursa Malaysia filing yesterday.

In a separate statement to Bursa yesterday, Genting Malaysia said Tan Sri Alwi Jantan, the deputy chairman and independent non-executive director of the company, had been redesignated as the chairman and independent non-executive director with effect from yesterday.

Alwi is 85 years old, while Lim is 69 years old, according to the filings.

Lim is also a board member of other companies within Genting Group.

In the filing on Lim, Genting Malaysia said he is the chairman and chief executive of Genting Bhd. He is also the executive chairman of Genting Singapore Ltd and Genting UK plc.

"He was the chief executive and director of Genting Plantations Bhd (GENP) until he relinquished his position of chief executive and assumed the position of deputy chairman and executive director of GENP on Jan 1, 2019.

"He has served in various positions within the group since 1976. He is a founding member and a permanent trustee of The Community Chest, Malaysia. In addition, he sits on the boards of other Malaysian and foreign companies as well as the boards of trustees of several charitable organisations in Malaysia.

"Lim is the chairman and chief executive officer (CEO) of Genting Hong Kong Ltd (GENHK), a company listed on the Main Board of The Stock Exchange of Hong Kong Ltd. He is also a director of Travellers International Hotel Group Inc, which is an associate of GENHK and was listed on the Main Board of The Philippine Stock Exchange Inc until its voluntary delisting in October 2019," Genting Malaysia said.

In the filing on Alwi yesterday, Genting Malaysia said he joined Genting Malaysia on July 1, 1990 as the executive vice-president — public affairs and human resources, and was redesignated as an executive director on July 2, 2007 prior to his retirement in 2009.

"Alwi was appointed as an executive director of Genting Malaysia on Aug 10, 1990. He was redesignated as an independent non-executive director on July 1, 2011.

"Alwi retired as an independent non-executive director of Genting Malaysia at the conclusion of Genting Malaysia's 37th annual general meeting (AGM) held on May 31, 2017 in accordance with Section 129 of the Companies Act 1965.

"On the same day, he was appointed as an independent non-executive director of Genting Malaysia pursuant to a resolution of the board of directors of Genting Malaysia dated May 31, 2017. On Jan 1, 2019, Alwi was appointed as the deputy chairman/independent non-executive director of Genting Malaysia," Genting Malaysia said.

As at the time of writing today, Genting Malaysia's share price had risen nine sen or 4.04% to RM2.32, with a market value of RM12.61 billion. The stock saw some eight million shares traded.