Suntrust gets OK for unit handling hotel, tourism biz
The Philippines’ Securities and Exchange Commission (SEC) has certified the incorporation of a subsidiary of Suntrust Home Developers Inc that will handle the group’s hotel and other tourism-related businesses in that country’s capital, Manila.
The subsidiary is called Suncity WC Hotel Inc, according to a Wednesday filing from Philippine-listed Suntrust. Suncity WC Hotel will be responsible for “operating, managing, and/or maintaining hotels, health and wellness shops, cinema, car parks, entertainment centers, amusement centers and other tourism-related facilities,” said the parent company.
Suntrust is involved in the development of a casino hotel scheme (pictured in artist rendering) at the Westside City Project, located at Entertainment City in Manila. Suntrust is a company controlled by Hong Kong-listed Suncity Group Holdings, the latter controlled by Macau junket boss Alvin Chau Cheok Wa.
In a release issued earlier this month, the Suncity brand has reiterated that the Manila project was “set to open its doors before 2023”.
Latest News
Sign up to our FREE Newsletter
(Click here for more)
Most Popular
US$12bln court case begins on LVS Macau licence June 16, 2021 
Macau lifts inbound-quarantine rule for 2 Guangdong cities June 17, 2021 
DICJ ex boss tells court Galaxy bid helped by LVS know-how June 17, 2021 
Macau daily GGR dips 34pct m-o-m on Covid alert: broker June 16, 2021