Casino cruise ship operator Genting Hong Kong Ltd said in a Sunday filing that its directors have given “careful consideration” to whether the firm would have “sufficient financial resources” to continue its business as a going concern.
The commentary was in Genting Hong Kong’s audited financial results for the year 2020, lodged with the Hong Kong Stock Exchange. During the year, the group recorded a net loss of nearly US$1.72 billion, and had net operating cash outflow of US$629.4 million.
As at December 31, Genting Hong Kong’s current liabilities exceeded its current assets by nearly US$3.3 billion. The firm was also in default in respect of borrowings in a principal amount of nearly US$3.4 billion in aggregate.