(Oct 30): A controlling 38.68% stake in Genting and related assets were left to Lim Kok Thay, current chairman and CEO of the sprawling gaming empire, in 2003 by his late father Lim Goh Tong via the Kok Thay Family Trust, says Kien Huat Realty general manager Gerard Lim Ewe Keng. Ewe Keng adds that the current feud involving Kok Thay and his brother Lim Chee Wah, who are at loggerheads with their nephews Joey Lim Keong Yew and Benjamin Lim Keong Hoe and niece Marie Lim Seok Leng — the children of the late Lim Tee Keong (Kok Thay and Chee Wah’s elder brother) — is unlikely to affect the current shareholding at Genting and related companies.
Tee Keong died a bankrupt in April 2014.
“The way their father [Goh Tong] set [the trusts] up is very clear. One tiger, one mountain… Never two, three separate trusts. He separated all of them. He made sure the one that was going to run all the public companies was the one he had chosen, and he chose Tan Sri [Lim Kok Thay] in 2003. I think there was a big media [bash] when he handed over the reins,” says Ewe Keng, who is not related to Genting’s Lim family.