Suntrust Home Developers, the Philippines firm controlled by Hong Kong-listed Suncity Group that is developing a US$1 billion hotel and casino in Manila’s Entertainment City precinct, has announced the appointment of veteran investment banker Sutha Kandiah as its new Chief Financial Officer.
Kandiah’s appointment was announced following completion of Suntrust’s annual meeting this week, which also saw the company granted shareholder approval to change its name to Suntrust Resort Holdings, Inc.
According to information filed with the Philippine Stock Exchange, Kandiah is a seasoned finance executive with experience heading large institutional operations at UBS, as head of its Asian and Japanese capital markets businesses and head of Southeast Asian investment banking, and with building and operating start-up financial services businesses.
He has spent 25 years working in Singapore, Hong Kong and Japan, and established the capital markets and investment banking business of Religare Capital Markets. When Religare was acquired by state-owned Chinese securities firm Soochow Securities, Kandiah served as Soochow’s CEO of Asset Management and Vice Chairman of Capital Markets.
He presently serves as Senior Advisor to a private equity firm and a venture capital firm that are focused on Southeast Asia and serves as advisor to the Board of Directors at Digipay, a digital payments and financial services application based in the Philippines, Suntrust said.
Kandiah joins Chairman Andrew Lo and President David Chua on the Suntrust leadership team after they were appointed to the Board of Directors in May.
Suncity’s Manila IR project, part of the Westside City Resorts World development in the Entertainment City precinct, is due to open in 2023, incorporating a casino with 400 gaming tables and 1,200 slot machines with a 450-room hotel and multiple other attractions.
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