Macau casino junket investor Neptune Group Ltd has announced the resignation of Stephen Chan Shiu Kwong as an executive director, chief financial officer and company secretary, with effect from January 31, 2017. Mr Chan had been appointed an executive director of the company in April 2005, according to previous filings. He left to pursue a different career path, the company said.
In a filing to the Hong Kong Stock Exchange, Neptune also said Lam Yick Man has been appointed company secretary, financial controller and authorised representative of the company, with effect from February 1, 2017.
“The board would like to express its appreciation for Mr Chan’s contribution to the company during his tenure of service and welcome Mr Lam for his new appointment,” said Neptune in its Monday filing.
Mr Lam is described has having more than 10 years of extensive professional experience in the fields of accounting, finance and auditing. Prior to joining Neptune, he worked for international accounting firms and other listed companies in Hong Kong.
Mr Lam is a member of the Hong Kong Institute of Certified Public Accountants and an ordinary member of Hong Kong Securities and Investment Institute, according to the filing.
Neptune announced in December that it had significantly narrowed its annual net loss in the financial year ending June 30. Such loss was approximately HKD202.11 million (US$25.3 million) compared to HKD828.01 million in the prior-year period, the firm said.
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"We forecast Grand Lisboa Palace will have EBITDA of HKD2.0 billion (US$260 million) with 330 tables by 2022, and HKD3.5 billion with 380 tables by 2023"
Credit rating agency Fitch Ratings