Genting Hong Kong

Genting Hong Kong dropped in the stock market after reporting a loss amid travel restrictions sparked by the pandemic. Its shares slid 2.2 per cent in Hong Kong yesterday, outpacing a 0.2 per cent decrease in the benchmark Hang Seng Index.

The company, controlled by Malaysian tycoon Lim Kok Thay, reported a net loss of US$1.7 billion (S$2.3 billion) and net operating cash outflow of US$629 million in audited results for the year ended December. There are "material uncertainties which may cast significant doubt about the group's ability to continue as a going concern", it said.

REUTERS

Eagle Hospitality Trust

Five out of 15 properties put up for auction have received qualified bids in the second bid round for Eagle Hospitality Trust's (EHT) Chapter 11 assets held last Thursday.

The auction resulted in a US$24.8 million (S$33 million) net increase in the aggregate consideration for EHT's auctioned properties, said EHT's trustee, DBS Trustee, yesterday.

A "stalking-horse" bidder, Madison Phoenix, emerged successful for its bid of nine non-auctioned properties with an aggregate purchase price of US$326.5 million.

THE BUSINESS TIMES

Citi

Citi has appointed Ms Serene Gay as its new Singapore head of credit cards and personal loans for its global consumer banking business.

With over 16 years of experience in Citi across Singapore, Thailand and China, Ms Gay, who is Singaporean, will oversee credit cards and unsecured lending for Citi-branded and co-branded cards for consumers as well as Citi-branded commercial cards. She will also be responsible for driving customer growth, portfolio management, product management and customer retention for credit cards and ready credit.

THE BUSINESS TIMES