Singapore nightclub operator, Zouk Group, is being sold by parent company Genting Hong Kong for $14 million, in a move that will provide much needed liquidity to the cruise operator.
Malaysian firm Tulipa is buying the iconic nightclub, reported the Straits Times which cited a filing on the Hong Kong Exchange on Tuesday (Sept 1) night.
The business is changing hands from father to son, noted a report on The Edge. Tulipa is owned by Mr Lim Keong Hui, the son of Genting Hong Kong’s largest shareholder, Mr Lim Kok Thay.
Zouk is an iconic Singapore nightclub founded by Singaporean, Lincoln Cheng, when he was 45 years old. Originally located at Jiak Kim Street, the club became a leader in the local nightlife scene, drawing in youths with Mambo Nights and later ZoukOut.
The club relocated to Clarke Quay in 2016, after facing issues with the lease extension. Around this time, Lincoln sold his business to Genting Hong Kong, citing his old age as a reason.
Since the Covid-19 lockdown, the club’s DJs have been spinning live on social media, to keep nightlife fans entertained. Catch the live show by DJ Ghetto tonight:
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