Lim Kok Thay (pictured in a file photo), executive chairman of Malaysian gaming and plantations conglomerate Genting Bhd, has been made chairman and director of Resorts World at Sentosa Pte Ltd, the operating entity of Singapore casino complex Resorts World Sentosa (RWS).
A Friday filing to the Singapore Exchange by Genting Singapore Ltd, said the fresh appointment was “executive in nature”.
But the filing added that “day-to-day management” of Resorts World at Sentosa Pte “is the responsibility of management under the leadership” of the unit’s chief executive. Lee Shi Ruh currently holds the latter post.
In mid-January, Ms Lee went on record saying renovation work at Resorts World Sentosa had been completed, and management’s focus was on rebuilding business and performance.
Friday’s filing stated that Mr Lim’s appointment to Resorts World at Sentosa Pte, an indirect wholly-owned subsidiary of Genting Singapore, would include being “responsible for the overall effectiveness” of the operating unit’s board, and setting its “strategic direction and overseeing its governance”.
Mr Lim, aged 74, is a son of the Genting group’s founder, and joined the group in 1976. He currently serves as an executive chairman of the parent, Genting Bhd, and of Genting Singapore, and is also a deputy chairman and chief executive of Genting Malaysia Bhd.
He became chairman of Genting Singapore in 1993, and then its executive chairman beginning in 2005, according to Friday’s update. He also assumed the role of acting CEO of Genting Singapore in June last year.
Friday’s filing stated he would lead the Resorts World at Sentosa Pte “to ensure sound corporate governance, regulatory compliance, and ethical standards”.
In November 2024, the Singapore government renewed the casino licence of Resorts World at Sentosa Pte for two years – a period shorter than permitted under regulations. That was due to an assessment the property had an “unsatisfactory” tourism performance between 2021 and 2023.
Resorts World Sentosa opened in January 2010, and is one half of Singapore’s casino duopoly alongside Marina Bay Sands, run by Marina Bay Sands Pte Ltd, a unit of United States-based Las Vegas Sands Corp.
Friday’s filing by Genting Singapore stated Mr Lim would work on “ensuring robust oversight of risk management, internal controls, and compliance frameworks; and engaging with key stakeholders on governance and strategic matters”.
Genting Singapore earmarked about SDG6.80 billion (US$5.34 billion currently) to upgrade and expand the property, as part of what is known as RWS 2.0.
July saw the opening of the Singapore Oceanarium and the launch of a revamped retail area dubbed “WEAVE”.
In October, Resorts World Sentosa opened The Laurus hotel, part of The Luxury Collection Hotels & Resorts portfolio.
In November 2024, the company broke ground for a new waterfront development at the complex. The firm expects that expansion to be completed in 2030.
