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Summit Ascent names veteran Genting executive David Chua as new CEO

Ben Blaschke by Ben Blaschke
Mon 29 Mar 2021 at 18:51
Suncity Group claims majority 69.66% stake in Summit Ascent Holdings

Tigre de Cristal

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Hong Kong’s Summit Ascent Holdings has announced the appointment of David Chua, Chairman of Resorts World Manila operator Travellers International Hotel Group Inc, as its new Executive Director and CEO.

According to a Monday filing, Chua, 58, has entered into a letter of appointment that will see him join Summit Ascent for an initial term of three years from 1 May 2021 until 30 April 2024. He will be entitled to annual remuneration of HK$3.6 million (US$463,000).

Summit Ascent, of which Suncity Group Holdings holds a 69.66% stake, is majority shareholder of Oriental Regent Ltd after increasing its interest to 77.5% late last year. Oriental Regent Ltd is the operating entity of Tigre de Cristal, located in the Primorye Entertainment Zone near Vladivostok, Russia.

Chua joins Summit Ascent after 15 years with companies associated with Malaysia’s Genting Group. He was Chief Operating Officer of Genting Berhad from September 2006 to February 2007, President of Genting Hong Kong from May 2007 to January 2015 and a director of Norwegian Cruise Line Holdings, of which Genting Hong Kong once held an 11.18% share, from July 2011 to March 2015.

Genting Hong Kong holds a 50% stake in Travellers International Hotel Group Inc, which opened Resorts World Manila in 2009.

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Tags: David ChuaHong KongSummit Ascent HoldingsSuncity GroupTigre de CristalTravellers International Hotel Group
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Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

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