Malaysian lenders hit by troubles at Genting Hong Kong

The hit from Genting Hong Kong on three of Malaysia's top banks is set to have serious ramifications. PHOTO: ST FILE
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KUALA LUMPUR - The troubles at cruise operator Genting Hong Kong, a major Asian corporate casualty of the Covid-19 pandemic, are set to hit the profitability of three of Malaysia's top financial institutions.

Financial executives involved in the restructuring efforts at Genting Hong Kong, which is controlled by gaming tycoon Lim Kok Thay, noted that top Malaysian banks Malayan Banking, CIMB and RHB are among the chief unsecured creditors of Genting Hong Kong, with a combined exposure of US$600 million (S$808 million).

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