Posted on: May 18, 2022, 05:34h.
Last updated on: May 18, 2022, 11:10h.
Dream Cruises is back, but under a completely different name. Formerly part of Genting Hong Kong (Genting HK), part of the Genting casino family of companies, the new Resorts World Cruises (RWC) will splash its first voyage next month.
Genting HK-owned Dream Cruises used to operate the vessel that will make RWC’s maiden voyage. However, the new company asserts that it is operating separately from Genting HK and Dream Cruises.
Lim Kok Thay, a Malaysian tycoon and chairman of the Genting Group board, set up RWC. It was registered on March 9, just two months after Genting HK filed to wind down the company, having failed to secure financing to pay its debts.
Not the Old Genting HK
The Genting Dream vessel may now belong to the new company, but RWC remains separate from Genting HK, according to an announcement from yesterday. “This new brand has got nothing to do with Genting Hong Kong; it’s a new cruise brand,” stated RWC CEO and Executive Director Colin Au.
Au is the former deputy CEO of Genting HK. After Genting HK filed to stop operating, Lim and Au resigned as CEO and deputy CEO, respectively. Lim reportedly has only a limited role in the new operations.
Au explained to reporters that Genting HK is “under provisional liquidation, and (Lim) is not joining any of the companies under provisional liquidation.” However, Lim holds shares in RWC and serves as its executive chairman.
The Dream that Never Dies
The timing of the launch of the new ship is just six months after Genting HK sank. However, the quick turnaround isn’t an issue, according to Au. He told reporters that “everybody’s objective is to go back to normal as fast as possible.”
RWC was able to easily find employees to man the new company. Some 1,700 of Dream Cruises’ former employees in Singapore made the transition, according to Channel News Asia. The figure includes 1,600 ex-crew members of Genting Dream, and another 70 employees who were previously employed at its Singapore office.
Au stated that the launch of the new cruise would also increase the revenue for the Singapore Cruise Centre. It will also help to reinvigorate the economy and protect employment opportunities.
He noted the strong demand for cruises in the region, including in countries such as India, Malaysia, and Thailand. He also expressed his confidence that RWC would be able to meet that demand as it ramps up its operations.
Rebuilding the Dream
Dream Cruises, at the time of its demise, had three ships – Explorer Dream, Genting Dream, and World Dream. RWC took over Genting Dream, and is currently in negotiations to acquire the two other ships.
After its parent company fell into financial difficulties, World Dream, which operated cruises from Singapore, stopped accepting new bookings. On March 2, it removed the ship from service.
RWC announced that it will offer complimentary credits of “equivalent worth” to all passengers who were impacted by World Dream’s cancellations of cruises in Singapore between March 2 and August 31. These credits will be available from June 15 through the end of March 2023.
The company stated that this policy would only apply to World Dream customers affected by the cancellations. It is only available to those who have not received any refunds from their original booking source.
RWC stated that there are around 13,000 customers who would qualify for the credit. However, some have already received refunds from their credit card companies. The company doesn’t have any records of who has claimed their refunds to date, and will have to sort out all claims on a case-by-case basis.