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”.
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