Hong Kong-listed LET Group Holdings, the Asian casino and integrated resort investor previously known as Suncity Group, has announced the departure of two directors with John Au Chung On and Manuel Assis Da Silva both stepping down.
According to details filed with the Hong Kong Exchange this week, Au has resigned as an executive director in order to devote more time to his personal commitments while Da Silva has resigned in order to retire. Both were members of LET Group’s Risk Management Committee and have therefore ceased in these roles.
In its filing, LET Group said that “Each of Mr Au and Mr Manuel confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the company.”
Their departure has seen Chairman Andrew Lo Kai Bong appointed as the chairman of the Risk Management Committee with effect from 30 November 2022, and as an authorised representative of the company.
LET Group changed its name from Suncity Group in July, claiming the new name would “better reflect the Group’s strategic business plan and its future development direction with the focus on tourism-related business.”
The company has been actively pivoting its business towards integrated resort operations in recent years, holding a stake in Vietnam’s Hoiana and controlling interests in Russia’s Tigre de Cristal and a new hotel-casino development in Manila’s Entertainment City.
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