KUALA LUMPUR: Genting Malaysia Bhd said today its chairman, Lim Kok Thay, has been redesignated as the deputy chairman and chief executive of the hotel and casino operator with effect from yesterday.
Alwi Jantan, the deputy chairman and an independent non-executive director of the company, was redesignated as chairman from yesterday, the company said in a separate filing with Bursa Malaysia yesterday.
Alwi is 85 years old, while Lim is 69 years old, according to the filings.
Lim is also a board member of other companies within Genting Group. He remains chairman and chief executive of Genting Bhd, executive chairman of Genting Singapore Ltd and Genting UK plc.
The company said Lim had served in various positions within the group since 1976.
“He was the chief executive and director of Genting Plantations Bhd until he relinquished his position of chief executive and assumed the position of deputy chairman and executive director on Jan 1 last year.
“Lim is the chairman and chief executive of Genting Hong Kong Ltd, a director of Travellers International Hotel Group Inc of the Philippings, an associate of Genting Hong Kong.
Genting Malaysia said Alwi joined Genting Malaysia on July 1, 1990 as executive vice-president for public affairs and human resources. He was redesignated as an executive director on July 2, 2007 prior to his retirement in 2009.
“Alwi was appointed as an executive director of Genting Malaysia on Aug 10, 1990. He was redesignated as an independent non-executive director on July 1, 2011.
“Alwi retired as an independent non-executive director of Genting Malaysia at the conclusion of Genting Malaysia’s 37th annual general meeting (AGM) held on May 31, 2017 in accordance with Section 129 of the Companies Act 1965.
“On the same day, he was appointed as an independent non-executive director of Genting Malaysia pursuant to a resolution of the board of directors of Genting Malaysia dated May 31, 2017. On Jan 1, 2019, Alwi was appointed as the deputy chairman/independent non-executive director of Genting Malaysia,” Genting Malaysia said.
As at the time of writing today, Genting Malaysia’s share price had risen nine sen or 4.04% to RM2.32, with a market value of RM12.61 billion. The stock saw some eight million shares traded.