Inside Asian Gaming

IAG MAY 2019年5月 亞博匯 62 IN FOCUS J oey Lim founded Donaco (ASX ticker DNA) in 2002 with his late grandfather, Genting Group patriarch Lim Goh Tong. As Managing Director and CEO, Lim spearheaded Donaco’s expansion in Lao Cai, Vietnam, and acquisition of Star Vegas in Poipet. In December Lim took temporary leave “to deal with medical and personal matters,” Donaco told ASX. In March, Donaco “terminated” Lim without explanation, though he remains a board member. Lim shares perspectives on Donaco with Inside Asian Gaming Editor at Large Muhammad Cohen in edited excerpts below. Not discussed were Lim’s ouster and lawsuits over his father’s estate against his uncle Lim Kok Thay, Genting’s chairman. Muhammad Cohen: Why did you take a loan from OCP Asia? Why wasn’t it paid back? Joey Lim: The OCP transaction was first conducted back in 2015. OCP granted a facility to me and my family to subscribe to the DNA rights issue raising money for Payback Co-founder Joey Lim lost his shares through a loan to help Donaco acquire Star Vegas 償還 Donaco的共同創辦人林慶耀因為一項幫助公司 購入Star Vegas的貸款而失去了他手上的股本。 the US$360 million acquisition of Star Vegas. In 2015 the pledge of shares was only one-third of the total holdings at AU$0.60. Over time, with the legal action against the Thai vendors as well as the competition from the same vendors, the DNA share price suffered and further collateral in the form of shares needed to be pledged, leading to the total of my holdings being pledged in early 2018. I had been servicing the principal and interest payments in a timely manner up until late 2018 when my divorce proceedings hit me hard financially. I was unable to make one payment in November 2018 for the sum of circa US$440,000. MC: Did Donaco know Star Vegas seller Somboon Sukjaroenkraisri was building a casino across the street? Did the non-compete agreement cover that? JL: We were unaware of Somboon’s developments on his land outside of what he had sold to the company in 2015. Former Donaco Managing Director and CEO Joey Lim Donaco的前常務董事及CEO林慶耀