Singapore News

News from Singapore

Genting founder passes away, stock stable

Posted by jtsmyth8 on October 25, 2007

Share prices of listed entities in the Genting group had mild movements when news on the demise of its founder, Tan Sri Lim Goh Tong, broke shortly before lunch break yesterday.

Investment analysts contacted by StarBiz said there was no panic in the market when the investing public learned about the death of Lim.

They said such calmness was mainly because a clear succession plan had been put in place in the past three years or so.

“The demise of Lim is not expected to affect the daily operation of the Genting group,” said MIMB Investment Bank analyst Teh Kian Yong.

Kenanga Asset Management Sdn Bhd’s Chen Fan Fai said succession was not an issue to the family business.



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