Hong Kong-listed Rich Goldman Holdings Ltd, an investor in casino junket business in Macau and elsewhere, said in a Thursday filing that its chairman, Andy Lin Chuen Chow, also an executive director and head of the nomination committee, was exiting. He is to be replaced by Lin Yee Man, the firm’s controlling shareholder and who has fewer than five years of experience in investment.
The departing executive, 46-year-old Mr Lin, described in the annual report as a gaming industry “veteran” who “has managed gaming business in Macau”, had “no disagreement with the board” stated the announcement.
Additionally, there was “no other matter in relation to his stepping down that needs to be brought to the attention of the stock exchange and the shareholders of the company,” said the filing.
His replacement in all those posts is Ms. Lin, who controls a stake of 70.1 percent in Rich Goldman. Her sole qualification, as per the filing, is a “foundation certificate in economics, finance and management from the University of Exeter,” in the United Kingdom.
The 30-year-old will receive a nominal fee of HKD1.00 (US$0.128) per year for her role as a director.
In a December 30 filing, Rich Goldman said a profit-share deal that made possible the introduction of gamblers to a VIP room at Solaire Resort and Casino in the Philippine capital, Manila, was being mutually cancelled with effect from January 1 by the parties involved.
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