Board boss change at firm behind Saipan casino

Jan 24, 2019 Newsdesk Industry Talk, Latest News, World  

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Imperial Pacific International Holdings Ltd, which controls a casino on the Pacific island of Saipan, has made a change at the top, announcing a new chairwoman via a disclosure to the Hong Kong Stock Exchange on Wednesday.

The company’s announcement said Cui Li Jie has assumed the leadership of its board, replacing Xia Yuki Yu. Imperial Pacific International said Ms Xia had resigned with immediate effect.

The company gave no reason for the change but it said Ms Xia had no disagreement with the board.

Imperial Pacific International said Ms Cui became an executive director of the company in May 2017. She is described in filings as having had involvement in real estate projects and trading in building materials, and has  “experience in investment”.

Ms Cui, 60, is the sole director of and shareholder in Inventive Star Ltd, which controls nearly 90.76 billion shares in Imperial Pacific International.

Last March, Forbes magazine estimated that her net worth was US$1.1 billion, making her at that time among the top-2,000 richest people in the world.

The fourth quarter of last year saw Imperial Pacific International subsidiary Imperial Pacific International (CNMI) LLC lose a chief executive after less than a year in the role.

The unit runs the Imperial Pacific Resort, a casino complex on Saipan, a United States jurisdiction in the Western Pacific. Last year the parent firm asked for and was later granted an extension on the deadline for building its hotel on the site.

The then Imperial Pacific International (CNMI) chief executive and chairman Henry Cheang stepped away from the company in October. No reason was given for his departure. The exit came soon after the resignation in August of his predecessor as chairman, Marco Teng, and the subsequent resignation of executive director Cai Lingli.

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