MANILA: The Brunei-Indonesia-Malaysia-Philippines East Asean Growth Area (BIMP-Eaga) has much business opportunities in store with the presence of Resorts World Manila (RWM), one of the numerous integrated resorts under the Genting brand.
SIGNED AND SEALED: (From left) Chua, Lim and Maybank deputy head, head of global wholesale banking, Abdul Farid Alias show the members of the press the signed documents at the signing ceremony
David Chua, president of Genting Hong Kong Ltd (Genting Hong Kong) which operates RWM said, “The BIMP-Eaga countries share a common heritage and we are working to bring more tourists into the immediate Philippines area.”
He further said that there was a lot of growth potential where the region was concerned and the natural heritage of the Philippines was a strong factor in attracting tourists to the country.
In addition, RWM was still pretty much an ongoing project with more infrastructure in terms of hotels still to come and also some new attractions to ensure it catered to tourists from all walks of life.
Chua also reiterated that while this was the case, the majority of RWM would be geared towards the emphasis on a lifestyle-theme of operations.
Furthermore, he divulged that Genting Hong Kong, which also operated global cruises under the Star Cruises and Norwegian Cruise Lines brands, would be embarking on a new route sometime in February or March next year.
“Superstar Libra will be taking on the Penang- Phuket-Krabi route,” he added. Chua was speaking on the sidelines of the recently concluded signing of a US$600 million syndicated loan facility agreement by Genting Hong Kong.
The company believed that it was an opportune time to undertake such a refi nancing exercise given the attractive terms and pricing. It secured this loan facility with its eight-vessel Asian fl eet.
“We are pleased to have this opportunity to work with our key relationship banks which have a sound understanding of our company and have shown consistent support over the years,” said Tan Sri Lim Kok Thay, chairman and CEO of Genting Hong Kong.
Maybank Investment Bank Bhd (Maybank), Credit Agricole Corporate and Investment Bank, DnB NOR Bank ASA, RHB Bank (L) Ltd, Hong Kong and Shanghai Banking Corporation Ltd and Oversea-Chinese Banking Corporation Ltd acted as joint mandated lead arrangers, underwriters and bookrunners in the transaction.
The signing ceremony was held at the newly opened Genting Club in RWM, the host of the Genting Group’s 45th year anniversary celebrations.