• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Friday 8 August 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Receivers sell off first batch of Joey Lim’s former Donaco stake

Ben Blaschke by Ben Blaschke
Wed 26 Jun 2019 at 15:24

Donaco’s Aristo International Hotel in Vietnam

32
SHARES
786
VIEWS
Print Friendly, PDF & Email

Asian investment firm Orchard Capital Partners (OCP) has sold off almost 66 million shares in Donaco International Limited previously held by the latter’s founder, Joey Lim.

A Wednesday filing by Donaco showed that OCP had offloaded the shares at 11 cents per share, recouping a total of just under AU$7.2 million and reducing Lim’s holding in Donaco by around 8%.

The sell-off comes after Lim secured a US$34.3 million loan from OCP in early 2017 via one of his entities, Total Alpha Investments Limited, in a deal that included the issuance of senior secured bonds and granting of share options over Donaco shares.

When Lim defaulted on a loan repayment late last year, OCP enforced its security interest over his entire 27.25% stake, giving it the power to vote on and sell Lim’s 37.7 million direct and 164.3 million indirect shares.

According to Wednesday’s filing, OCP offloaded the first 65.9 million of Lim’s indirect shares on 19 June, reducing his stake to around 19% of issued share capital. The proceeds of the sale are listed as going to OCP Group.

It’s been an eventful few months for both OCP and Lim. In early May, following a complaint from Lim himself, Australia’s Takeovers Panel ruled that an on-market acquisition by OCP of a further 9.71% stake in Donaco in December 2018 was invalid because the market was unaware at the time of OCP’s security interest in Lim’s shares.

Three weeks later, another group of new shareholders used their combined voting power to file a formal request for an EGM to consider the removal of both Joey Lim and his brother Benjamin from the Donaco board.

RelatedPosts

Light & Wonder to pursue sole ASX listing, complete delisting from NASDAQ by end of November

Light & Wonder to pursue sole ASX listing, complete delisting from NASDAQ by end of November

Thu 7 Aug 2025 at 05:57
AUSTRAC CEO Brendan Thomas named speaker for Sydney’s Regulating the Game 2025

OPINION: Entain’s repositioning and the compliance reckoning Australia’s clubs can’t ignore

Wed 6 Aug 2025 at 15:03
10 Years Ago: The Star war

NSW casinos given two-year reprieve on plan to lower daily cash limit to AU$1,000

Wed 6 Aug 2025 at 05:21
Legal battle continues to hurt Donaco’s bottom line

Donaco shareholders approve US$35 million privatization bid

Mon 4 Aug 2025 at 15:36
Load More
Tags: AustraliaBen limDonacoJoey LimOrchard Capital Partnersshares
Share13Share2
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Better late than never

Editorial – Better late than never

by Ben Blaschke
Thu 31 Jul 2025 at 07:13

Inside Asian Gaming has in recent weeks been hearing increasing chatter around a possible move by Vietnamese authorities to introduce...

Angel’s Yasushi Shigeta

Angel’s Yasushi Shigeta

by Ben Blaschke
Thu 31 Jul 2025 at 07:08

Yasushi Shigeta, Chairman and owner of one of the world’s largest gaming industry suppliers, Angel Group, sits down with Inside...

The Magic Number

The Magic Number

by David Bonnet
Thu 31 Jul 2025 at 06:41

In this in-depth deep dive into the evolution of the Asian gaming landscape, David Bonnet argues that many regional jurisdictions...

Rashid Suliman – A road well traveled

Rashid Suliman – A road well traveled

by Ben Blaschke
Thu 31 Jul 2025 at 02:45

Rashid Suliman, Vice President of Global Gaming Asia-Pacific for casino solutions provider TransAct Technologies, provides some insight into his unique...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

Large-scale events center at Wynn Palace part of US$750 million worth of Macau project investments planned by Wynn through end-2026

Large-scale events center at Wynn Palace part of US$750 million worth of Macau project investments planned by Wynn through end-2026

by Ben Blaschke
Fri 8 Aug 2025 at 05:54

Wynn Macau Ltd is looking to spend up to US$750 million through the end of 2026 on a series of upgrade and expansion projects at its Macau resorts, including development of a new large-scale events center at Wynn Palace. The...

Filipino maintenance worker passes away in Wynn Palace work-related accident

Low VIP hold hurts Wynn Macau’s 2Q25 results as operating revenues hit US$883 million

by Ben Blaschke
Fri 8 Aug 2025 at 05:17

The Macau operations of Wynn Resorts Ltd generated operating revenues of US$883 million in the three months to 30 June 2025, basically flat with the same period in 2024 due in part to low hold across the board – particularly...

MGM China lives up to new 50% dividend payout policy as total 1H25 interim dividend payout declared at US$152 million

MGM China lives up to new 50% dividend payout policy as total 1H25 interim dividend payout declared at US$152 million

by Ben Blaschke
Fri 8 Aug 2025 at 04:59

MGM China on Thursday declared an interim dividend of HK$0.313 per share for the period ended on 30 June 2025, amounting to a total payout of HK$1.19 billion (US$152 million) and living up to its recently updated dividend policy by...

10 Years Ago: Rearing for a comeback

Resorts World Sentosa upgrade disruption sees 2Q25 gaming revenues fall 8% sequentially to US$313 million

by Ben Blaschke
Thu 7 Aug 2025 at 19:07

Genting Singapore reported a 3% year-on-year increase but a 6% sequential decline in group-wide revenue to SG$588.3 million (US$458 million) in 2Q25, with performance subdued due to ongoing renovation and expansion works at Resorts World Sentosa. While the company pointed...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語