Why Genting HK is delisting from the Singapore ExchangeWhy Genting HK is delisting from the Singapore Exchange

This is related to a voluntary delisting of Genting HK shares in Singapore that was announced in early October. The last day for the shares to trade on the Singapore Exchange is expected to be April 10.

'We appreciate the support of our shareholders based in Singapore and Malaysia over the years and invite all our shareholders to stay on board with us and participate in our next phase of growth,' said Tan Sri Lim Kok Thay, chairman and CEO, Genting Hong Kong.

Explaining the rationale for its Singapore delisting, the company pointed to its focus on core business activities relating to cruise operations in Asia, particularly North Asia, and various initiatives to meet the growing demand of the Chinese market.

As a result, Genting HK wants to increase its visibiilty among North Asian investors and envisages that maintaining a single primary listing on the Hong Kong Stock Exchange will potentially increase the trading of its shares there and raise the company's profile among North Asian investors.

Genting HK's board also said the Singapore delsting will eliminate additional administrative overhead and costs of compliance, allowing the company to streamline its compliance obligations, reduce its legal and compliance costs, and focus its resources on business operations.

The company is expanding its product offering and strengthening its capability to construct cruise ships, and believes the delisting will allow management to devote attention and resources to ensure these efforts are smoothly integrated.

Further, Genting HK believes that the consolidated trading of its shares on the HKSE will increase the liquidity of the shares there, improving the effectiveness of any future capital-raising activities and enhancing shareholder value in the long term.

Genting HK has not carried out any fund-raising activities in Singapore in the the last six years.