Casino cruise ship operator Genting Hong Kong Ltd said in a filing with the Hong Kong Stock Exchange on Friday it expects an unaudited loss of at least $1.5 billion, compared with a loss of $159 million for the year to Dec. 31.
The company said the increase in annual losses was due to the "longer disruption of fleet-wide operations, primarily across group cruises and cruise-related businesses" due to the COVID-19 pandemic. These disruption began "temporarily from February 2020".
Genting Hong, part of the Malaysia-based Genting Group, controls the Dream Cruises, Crystal Cruises and Star Cruises brands. The company is also an investor in Resorts World Manila casino resorts in the Philippines.
Operations were suspended at the group-controlled MV Verpen shipyard in Germany from March to October last year, according to a filing on Friday.
Genting Hong Kong said in a release that various business disruptions caused by the pandemic had "recorded impairment losses on certain intangible assets, properties, plants and equipment, and other assets, as well as losses on interest disposal on certain subsidiaries that own non-core assets."
Genting Hong Kong said in November last year it had agreed to sell a 50% stake in Genting Macau Holdings, a subsidiary involved in developing a hotel project in Macau.
The group's consolidated operating loss in 2020 will be at least $600 million, compared with $96 million in 2019, Genting Hong Kong said in a recent filing.
However, the company noted that it has been working with individual branches to operate small operations.
This included allowing the Dream Cruise brand's Ship Explorer Dream (pictured) to operate "Taiwan Island-hopping" cruises for two, three and four nights from July 26.
Dream Cruises' World Dream ships have been authorised to operate "domestic cruises" in Singapore since November, making a "positive contribution" to group earnings before interest, tax depreciation and amortisation, the filing said.
The filing also noted that Genting Cruise Line recently announced that Crystal Cruise will operate its "Close-to-Home Bahamas Escape" in Nassau and Bimini in the Bahamas from July of this year.
Genting Hong Kong said this meant Crystal Serenity would be "the first marine vessel to sail in the Americas since the cruise industry voluntarily shut down operations almost a year ago." 바카라사이트
"With the resumption of Crystal Serenity, Genting Cruise Line will operate 41%, the highest percentage of cruise companies worldwide, following Dream Cruise's Explorer Dream in Taiwan in July 2020 and World Dream's restart in Singapore in November 2020," according to a filing on Friday
![Casino cruise ship operator Genting Hong Kong Ltd said in a filing with the Hong Kong Stock Exchange on Friday it expects an unaudited loss of at least $1.5 billion, compared with a loss of $159 million for the year to Dec. 31.
The company said the increase in annual losses was due to the "longer disruption of fleet-wide operations, primarily across group cruises and cruise-related businesses" due to the COVID-19 pandemic. These disruption began "temporarily from February 2020".
Genting Hong, part of the Malaysia-based Genting Group, controls the Dream Cruises, Crystal Cruises and Star Cruises brands. The company is also an investor in Resorts World Manila casino resorts in the Philippines.
Operations were suspended at the group-controlled MV Verpen shipyard in Germany from March to October last year, according to a filing on Friday.
Genting Hong Kong said in a release that various business disruptions caused by the pandemic had "recorded impairment losses on certain intangible assets, properties, plants and equipment, and other assets, as well as losses on interest disposal on certain subsidiaries that own non-core assets."
Genting Hong Kong said in November last year it had agreed to sell a 50% stake in Genting Macau Holdings, a subsidiary involved in developing a hotel project in Macau.
The group's consolidated operating loss in 2020 will be at least $600 million, compared with $96 million in 2019, Genting Hong Kong said in a recent filing.
However, the company noted that it has been working with individual branches to operate small operations.
This included allowing the Dream Cruise brand's Ship Explorer Dream (pictured) to operate "Taiwan Island-hopping" cruises for two, three and four nights from July 26.
Dream Cruises' World Dream ships have been authorised to operate "domestic cruises" in Singapore since November, making a "positive contribution" to group earnings before interest, tax depreciation and amortisation, the filing said.
The filing also noted that Genting Cruise Line recently announced that Crystal Cruise will operate its "Close-to-Home Bahamas Escape" in Nassau and Bimini in the Bahamas from July of this year.
Genting Hong Kong said this meant Crystal Serenity would be "the first marine vessel to sail in the Americas since the cruise industry voluntarily shut down operations almost a year ago." [url=https://www.outlookindia.com/outlook-spotlight/2023년-바카라-사이트-추천-실시간-에볼루션-바카라사이트-순위-top15-news-334941]바카라사이트[/url]
"With the resumption of Crystal Serenity, Genting Cruise Line will operate 41%, the highest percentage of cruise companies worldwide, following Dream Cruise's Explorer Dream in Taiwan in July 2020 and World Dream's restart in Singapore in November 2020," according to a filing on Friday](https://www.geogebra.org/resource/ye2ty4ev/1mpAIdYdvTJs6OZi/material-ye2ty4ev.png)