Genting Hong Kong has announced the signing of a Master Services Agreement with Resorts World Inc. Pte. Ltd (RWI) in which RWI will provide a range of information technology services to Genting HK’s fleet of cruise ships.
Under the terms of the two-year agreement, RWI will provide a range of services and products, including information technology consulting and advisory services; software and hardware design, development, and customization; implementation, installation, configuration, enhancement, system integration, testing, support and maintenance, training and ancillary services; and supply, license and/or sub-license of electronic equipment and software.
RWI is 50 percent owned by Genting HK parent Genting Berhad and 50 percent by Chairman and CEO Lim Kok Thay.
In a filing, Genting HK said the annual cap for provision of services which will be paid on a “man hours worked” basis, will be US$5 million through December 31, 2021.
Genting HK said the agreement acts as “an umbrella arrangement to regulate the ongoing connected transactions between the parties, rather than requiring the company to continue to consider each such transaction as a connected transaction requiring aggregation and disclosure consideration, as has been the case for the past transactions with RWI Group.
“It is expected that with the aid of the services, the Group may reduce manpower, broaden the target age range of the customers of the Group and maintain the competitiveness of the cruise lines operated by the Group by introducing digital technologies to cruise operation to meet the advanced digital requirements of the cruise market.”
