• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Summit Ascent new director has Macau, Fujian links

Sep 10, 2018 Newsdesk Latest News, Rest of Asia, Top of the deck  


Summit Ascent new director has Macau, Fujian links

Hong Kong-listed Summit Ascent Holdings Ltd, the lead developer of the Tigre de Cristal casino resort (pictured) in the Russian Far East, has appointed as a non-executive director a businessman with links to Macau and the mainland Chinese province of Fujian.

In other developments, Summit Ascent had said in its interim results filed with the Hong Kong Stock Exchange on August 31 that it was “actively negotiating” with some Macau-based contacts in order to “resume the growth trajectory” of its rolling chip business.

The new non-executive board member, U Chio Ieong, will have a three-year tenure until September 6, 2021. Mr U was one of the candidates – on an electoral ticket tied to Macau casino boss Chan Meng Kam – competing in the direct election for Macau’s Legislative Assembly in 2017.

Mr U officially started his new role with Summit Ascent on Friday, the firm said in a filing that day.

Mr U is described as a businessman with experience in “various fields”. The filing stated he has held management positions and shareholdings in a number of companies in mainland China, Hong Kong and Macau, mainly engaged respectively in “real estate, graphene mining [sic], food and beverage, hotels, finance, travel, rosewood furniture and crafts”.

During the Macau Legislative Assembly election in September 2017, Mr U was on an electoral ticket led by Song Pek Kei, a local legislator who was seeking re-election. Chan Meng Kam – a veteran former legislator and local casino boss born in Fujian – did not run for office last year; but he campaigned  in 2017 in support of legislators Si Ka Lon and Ms Song, both of whom were re-elected. Mr U – who was third on the electoral ticket – did not win a seat.

Mr Chan came to international attention when in March this year he expressed hope that locals could “participate” in the process of deciding future gaming rights for the Macau market. His own portfolio of four Macau casino hotel properties is understood to have access to circa 200 gaming tables.

According to Friday’s filing Mr U is a member of the Fuzhou Committee of the Chinese People’s Political Consultative Conference in Fujian province, a regional advisory body to the Chinese government. The announcement also mentioned Mr U was involved in several community associations with Fujian links.


  • tweet
Related articles
  • NagaCorp exploring ‘IR’ at Siem Reap, Sihanoukville
    NagaCorp exploring ‘IR’ at Siem...

    Aug 28, 2020  

  • Summit Ascent 1H loss US$6mln, touts Manila investment
    Summit Ascent 1H loss US$6mln, touts...

    Aug 25, 2020  

More news
  • Casino op MGM China to pay most staff discretionary bonus
    Casino op MGM China to pay most staff...

    Jan 18, 2021  

  • Casino op Silver Heritage to issue 53mln new shares
    Casino op Silver Heritage to issue...

    Jan 18, 2021  


Latest News

Casino op MGM China to pay most staff discretionary bonus

Casino op MGM China to pay most staff discretionary bonus

Jan 18, 2021  

Macau casino operator MGM China Holdings Ltd announced on Monday that it was to pay a “discretionary bonus” to “eligible non-management” staff, adding that “over 90 percent” of its...
Read More
Casino op Silver Heritage to issue 53mln new shares

Casino op Silver Heritage to issue 53mln new shares

Jan 18, 2021  

Grand Korea extends Seoul, Busan casino closures to Feb 1

Grand Korea extends Seoul, Busan casino closures to Feb 1

Jan 18, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

"The most worrying [thing] is whether [mainland] China will again tighten the issuance of travel visas [for visits to Macau]"

Luiz Lam Kai Kuong

Macau junket investor



Most Popular

  • CNY 2021 unlikely to boost Macau casinos, say observersCNY 2021 unlikely to boost Macau casinos, say observers January 15, 2021
  • Police find US$11m of missed Landing cash, suspects soughtPolice find US$11m of missed Landing cash, suspects sought January 14, 2021
  • Still Asia focus for LVS post chairman death: BernsteinStill Asia focus for LVS post chairman death: Bernstein January 14, 2021
  • Quality fake chips sold online found at Macau casinoQuality fake chips sold online found at Macau casino January 13, 2021
  • Melco Resorts debt/EBITDA ratio to worsen in 2021: Moody’sMelco Resorts debt/EBITDA ratio to worsen in 2021: Moody’s January 14, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us