Genting Singapore’s wholly-owned subsidiary in South Korea, Claremont Co Ltd, has been placed under unit holders’ voluntary dissolution and liquidation, the company announced in a filing late on Tuesday.
Claremont was set up in August 2016 with Genting Singapore stating at the time that its, “business objectives will be the provision of support services to leisure and hospitality related businesses, the provision of resource support, and all incidental businesses related to the foregoing objectives.”
Since then, Genting Singapore – which owns and operates Resorts World Sentosa – has abandoned its Korean ambitions, selling its share in the US$1.8 billion Resorts World Jeju last November and stating its intent to pursue a Japan gaming license instead.
In its filing, Genting Singapore said the liquidation of Claremont would not have any material impact on the consolidated net tangible assets and earnings per share of the Company for the financial year ending 31 December 2017.
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