Ask anyone where the best place to visit a casino is and they will tell you to go to Genting Highlands. This is where the Genting Highlands Resort is located and is home to the Genting Group, one of the most prominent companies in Malaysia today. It was the brainchild of casino magnate Tan Sri Lim Goh Tong who spent years working on materializing his dream of having an entertainment city in the highlands for everyone in the family.
History back to 1965
It all started in 1964 when he was working on a hydroelectric power project in Cameron Highlands which was then a hill resort used by the British colonials and saw that a hill resort for Malaysians would be ideal. He then identified Gunung Ulu Kali not far from Kuala Lumpur which would take an enormous task to venture through the dense jungle and forests. Tan Sri Lim then established Genting Highlands Berhad in 1965 together with the late Tan Sri Haji Mohammed Noah bin Omar and then gained approval to develop the hill from the Selangor and Pahang state governments. That same year saw the company embarking on its effort to build the city and in 4 year’s time saw the road accessing through Genting Sempah towards the peak built. The Highlands Hotel was the first hotel built there and when the project took off without any government assistance, a gaming license was suggested.
Growing in stature and wealth
Since then, Genting Group has grown by leaps and bounds and today is the premier gaming company in Asia and the world. In Genting alone, there are 5 operating hotels while the Genting Group has flourished with expansion through to the United Kingdom and other parts of Asia like Singapore and the Philippines. Tan Sri Lim passed away in 2007 and the empire has since been managed by his second son Tan Sri Lim Kok Thay who has been among the richest Malaysians.
How much is Genting worth?
At the end of 2014, the market capitalization of Genting Berhad as listed on Bursa Malaysia was close to US$9.5 billion. It would continue to grow to more than US$37 billion in 2017. After taking over the helms at the group, Tan Sri Lim Kok Thay has been working hard to expand the business. Resorts World Catskills, which was opened in 2018 did not perform as well as expected. The COVID-19 pandemic caused some challenges for the group which saw Lim Keong Hui (Lim’s son) stepping down from Genting Hong Kong, the cruise operator of the group in August 2020.
However, Kok Thay’s wealth is still strong at US$2.6 billion as of June 2021, putting him at the eleventh spot of Malaysia’s richest of 2021.
$2.6 billion (2021)
Source Of Wealth
Tan Sri Lim’s wealth comes mostly from the Genting casino and entertainment business
He is married to Puan Sri Cecilia Lim
He has 3 children. Loui Lim is the Executive Vice President of Genting Cruise Lines. Lim Keong Hui meanwhile is the Deputy CEO and Executive Director in Genting Berhad.
Tan Sri Lim holds a degree in civil engineering from the University of London.