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.
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"The [Macau] government has a lead in this subject in regards to what should be done after the [gaming] concessions expire. We will be first listening to what the government will say”
Ambrose So Shu Fai
Vice-chairman and chief executive at Macau casino operator SJM Holdings