![]() ![]() ![]() More on Forbes: Asia's Richest Families 2017: The Billion-Dollar Clans Ruling The Region "Rather than have it with three sons, he passed it on to one son," says Gerard, who's also the director of Kien Huat Realty, a private investment holding company that holds the bulk of Kok Thay's shares in Genting Bhd. Gerard Lim, who is responsible for the Kok Thay family office but is not related to the family, maintains that "the family legal disputes, which are subjects of court proceedings in Malaysia, are never about control nor the ownership of the Genting Group." He also told Forbes Asia that Genting's patriarch had given the biggest stake in Genting Bhd. The other lawsuits contest the validity of Tee Keong's will and the ownership of a block of Genting stock, say the reports. According to local media reports, the siblings are suing over a family trust linked to their father that was created by their paternal grandfather, the late Lim Goh Tong, who started Genting in 1965. One lawsuit was filed by three children of the late Lim Tee Keong against his two brothers, Kok Thay and Lim Chee Wah. The opaque structure of the family's holdings in the group - which has a combined market value of $32 billion - came under media scrutiny last year after several family members took their battle to court.
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