Suncity’s Lo among 2 Summit Ascent execs to Suntrust board

May 05, 2021 Newsdesk Latest News, Philippines, Top of the deck  

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Two senior executives of Hong Kong-listed Summit Ascent Holdings Ltd have respectively become board directors at Suntrust Home Developers Inc, a Philippine entity investing in a casino hotel in Manila that is part of the Westside City Project. The board move is according to a Suntrust filing to the Philippine Stock Exchange on Tuesday.

Andrew Lo Kai Bong (pictured in a file photo), also an executive director of Hong Kong-listed Suncity Group Holdings Ltd, and deputy chairman of Summit Ascent, has been appointed a director of Suntrust, with effect from Tuesday.

David Chua Ming Huat, an executive director and chief executive of Summit Ascent, has also been appointed as a Suntrust director with effect from Tuesday, said the latter.

Mr Chua is also currently chairman of Travellers International Hotel Group Inc, the developer and operator of the Resorts World Manila casino resort in the Philippine capital.

Mr Lo and Mr Chua have respectively replaced Joey Villafuerte and Josephine Marie Salazar as Suntrust directors upon the latter pair’s resignation on Tuesday.

Suncity Group Holdings indirectly owns 51 percent of Suntrust. Suncity Group Holdings is led by Macau casino junket boss Alvin Chau Cheok Wa, the head of Macau VIP brand Suncity.

Suncity Group Holdings is also the controlling shareholder of Summit Ascent, with approximately 69.66 percent. Summit Ascent promotes the Tigre de Cristal casino resort in Vladivostok, Russia.

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