Lim’s Genting Bhd operates casinos and resorts in Las Vegas and Singapore. It’s had to scale back operations as countries impose lockdowns, while consumers shun cruises after a few ships. Lim Kok Thay, the owner of Genting Group. Image from The Straits Times. As of today, Lim has a 76% stake in Genting Hong Kong. “For Genting, the financial stress may push the owner to sell the asset, or liquidate the entire firm,” said Banny Lam, the head of research at CEB International Investment Corp. “Liquidation is.
A 91.5-metre superyacht has been bought by Orient Peace, the Cayman Islands-registered unit of Genting Group.
Genting Founder Lim Goh Tong
The superyacht, formerly named Equanimity, is actually a trophy in one of the world’s biggest financial heists at which previous owner—Low Taek Jho, or Jho Low—was at the centre. Equanimity was seized in February 2018 in Bali, during a global hunt initiated by the US Department of Justice to seize assets bought with funds from the scandal.
Low had bought the superyacht for US$250 million (HK$1.9 billion) in 2014, which was then sold to Genting Group for less than half the price in April this year. The group has since renamed the vessel ‘Tranquility’.
Genting, a multibilliondollar Malaysia-based empire, is helmed by Lim Kok Thay whose son and Tatler cover star, Loui Lim, is executive vice-president of new ship designs for Genting Cruise Lines (which includes Star Cruises, Dream Cruises and the ultra-luxury Crystal Cruises) and vice-president of leisure and hospitality for Genting Malaysia’s land-based resorts.
See also: Making Waves: How Genting Group's Loui Lim Is Rocking The BoatWelcome bonus 100 slot.
Genting Owner Lim Goh Tong
The superyacht boasts some incredibly impressive features, including stunning interiors designed by Andrew Winch Designs in the UK, a firm that’s renowned for designing private jets, superyachts and mansions for the world’s elite.
Tranquility, built to entertain, is designed to accommodate up to 22 guests overnight in 11 cabins, comprising a master suite, four VIP staterooms, two double cabins and two twin cabins.
It also features a “beach club” with folding platforms that drop town to the water, a circular jacuzzi with a clear bottom is on the upper deck which is visible from the deck below, and a one-of-a-kind grand piano in the main saloon, decorated in bamboo, marble, gold leaf and wenge wood, which comes from an endangered tree species. And to stay swimsuit-ready at all times, there is also an on-board gym, sauna and massage room.
Maintenance cost on the yacht is estimated at US$483,000 (HK$3.7 million) per month, which somewhat explains the cool weekly charter price tag of US$1.25 Million (HK$9.7 million). It is currently docked in Le Vieux Port at Cannes on the French Riviera. Time to start planning your next private cruise, perhaps?
See also: 10 Best Luxury Villas In Bali