Lim Kok Thay started a cruise ferry and gambling boat business in 1990s Hong Kong and turned it into one of Asia’s biggest cruise operators.
It was a labor of love, as well as a way to diversify the casino business set up by his father, Lim Goh Tong, in Malaysia. Under the now 70-year-old Kok Thay, Genting Hong Kong Ltd. expanded its fleet of ships, bought other cruise lines and even added a string of German shipyards to build its vessels.
Now, more than two years into the coronavirus pandemic, Kok Thay’s company is headed for liquidation. Genting Hong Kong filed a petition last week to wind up its business in one of the biggest stumbles by a cruise operator since the pathogen pummeled the industry. It’s a stark example of how the coronavirus brought once-thriving businesses to their knees, which has the potential to impact cruise customers across the region.