Hong Kong-listed Sinogreen Energy International Group Ltd is to change its name to Jimei International Entertainment Group Ltd, reflecting the majority control of the firm by Macau junket operator Jack Lam Yin Lok and interests linked with him.
Following a share subscription completed in September, Mr Lam and parties associated with him assumed control of 65.85 percent of Sinogreen Energy’s capital.
On Monday, it was announced Mr Lam had become chairman of Sinogreen Energy. The company has previously been involved in trading silicone rubber keypads.
Mr Lam is also chairman of Jimei Group Ltd, one of the largest junket operators in Macau. According to the group’s website, it operates 10 VIP clubs in major Macau casinos on Cotai, Taipa and the Macau peninsula.
In a filing on Thursday, Sinogreen Energy announced the intended name change to Jimei International Entertainment. Approval for the change will be sought at a special general meeting of the company on a date yet to be announced.
“The board is of the opinion that the proposed change of the name… will provide the company with a new corporate image and identity and in light of the business development and diversification of the group, the board considers that the new name…can more accurately reflect the corporate nature of the group”, the document stated.
In a filing in July, first announcing the proposed involvement of Mr Lam with Sinogreen Energy, the firm said his “extensive experience and business network in the gaming industry, will help the group gradually diversify its business into [the] Macau gaming market”.
The Thursday filing also said the board lot size of the firm’s shares for trading on the Hong Kong Stock Exchange would be changed from 4,000 shares to 500 shares with effect from 9am on November 27.
Oct 22, 2021Starting from the stroke of midnight on October 24 (Sunday), travellers arriving in China’s capital Beijing from Macau are no longer required to undergo a 14-day period of “centralised medical...
”Our own consensus is that any newcomers to this [junket] sector should be corporatised, and should be financially sound and able to commit a higher guarantee deposit”
Kwok Chi Chung
President of junket trade body, the Macau Association of Gaming and Entertainment Promoters