Hong Kong-listed casino investor LET Group Holdings Ltd has appointed four new directors to its board, including Lam Hung Tuan as an executive director, according to a Monday filing.
Mr Lam, aged 47, is currently the chief technology officer of Suntrust Resort Holdings Inc, a subsidiary of LET Group developing the “main hotel casino” at Westside City in the Philippine capital Manila.
He was also the vice president of information systems and technology of Hoi An South Development Ltd, an indirect subsidiary of what was then a joint venture involved in running a casino resort in Vietnam.
Mr Lam is said to have “over 20 years of experience” in the information technology sector.
LET Group also said that two of the independent non-executive directors of the company have now rejoined the firm’s board for a third time.
The returning directors are Tou Kin Chuen, who first served on the board from April 2012 until resigning on January 15 last year; and John Lo Wai Tung, who originally served from October 2012 until first resigning in January 2024.
The two non-executive directors had rejoined LET Group in May last year but resigned six months later.
Mr Tou has also been named member and chairman of LET Group’s audit committee, as well as a member of the remuneration committee, nomination committee, and risk management committee.
Mr Lo joins also as a member and chairman of the remuneration committee, as well as a member of the other three committees.
On Monday, LET Group also appointed Chan Suet Ngan as an independent non-executive director, and as a member and the chairlady of each of the nomination committee and risk management committee. She will also serve as a member of the audit committee and of the remuneration committee.
LET Group said an extraordinary general meeting will be convened, at which the four directors would “be retired” and then offer themselves for re-election by the company’s independent shareholders.
The latest appointments come as LET Group struggles with a trading suspension on the Hong Kong bourse.
Trading in the shares of the company “will remain suspended until the company has met all resumption guidance … remedied the issues causing its trading suspension, and fully complied with the listing rules to the satisfaction of the [Hong Kong] Stock Exchange,” reiterated Monday’s filing.
