Genting Berhad names Tan Kong Han as CEO

Kong Han’s appointment follows the resignation of Lim Kok Thay.

Malaysia.- Genting Berhad has announced the appointment of Dato’ Sri Tan Kong Han as its new CEO, effective as of March 1. Kong Han has spent 18 years as the chief operating officer, president and executive director of the company. His appointment follows the resignation of former CEO Lim Kok Thay, who continues as executive chairman of the group.

The company said: “Under Tan Sri Lim’s stewardship, Genting Berhad and its subsidiaries today have operations spanning across the globe from its origins in Malaysia, and have expanded its operations in leisure and hospitality, oil palm plantations, power generation, oil and gas and property development; and invested in life sciences and biotechnology activities which will shape individual lives.”

Tan Sri Lim Kok Thay, said: “On behalf of the board, I would like to congratulate Dato’ Sri Tan Kong Han on his promotion and new appointment. He replaces me as chief executive officer to lead and oversee the dayto-day operations of Genting Berhad, thus enabling me to focus on my duty as the executive chairman of the board and my other duties within the Genting Group. Dato’ Sri Tan joined the company in 2007 as its president and COO, assumed the role of director in 2020, and is now stepping into the CEO role as part of a multi-year succession plan.”

Genting Malaysia reports net loss for Q4

For the fourth quarter of 2024, Genting Malaysia reported revenue of RM2.68m (US$604.3m) while adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) was RM180.6m (US$41m), down 78.6 per cent year-on-year and 86.2 per cent quarter-on-quarter. The decline was mainly attributed to net unrealised foreign exchange translation losses on the group’s USD-denominated borrowings.

The company posted a loss before taxation (LBT) of RM368.2m and a net loss of RM485.6m. Excluding the effect of the unrealised foreign exchange translation, the group would have reported LBT of RM11.3m and a net loss of RM128.7m.

For full-year 2024, Genting Malaysia’s revenue increased by 7 per cent to RM10.7bn (US$2.41bn) while adjusted EBITDA grew by 1 per cent to RM2.92bn (US$658.4m). In Malaysia, the group’s leisure and hospitality operations reported a 6 per cent growth in revenue to RM6.28bn (US$1.42bn) while adjusted EBITDA was up 1 per cent to RM2.1bn (US$473.5m).

Kong Han’s appointment follows the resignation of Lim Kok Thay. Malaysia.- Genting Berhad has announced the appointment of Dato’ Sri Tan Kong Han as its new CEO, effective as of March 1….