Privately-held Macau junket investor Suncity Group said in a Tuesday press release that Hoiana (pictured in an artist’s rendering), a Vietnam casino resort that launched last year, would see a start this year in its second phase of development, and would target “tourists from Southeast Asia”.
The Suncity brand has been well known for serving high-value casino players from mainland China that wish to gamble in Macau. But in recent years the junket brand has spread its presence to other regulated casino markets.
Alvin Chau Cheok Wa, boss of Suncity Group, leads a Hong Kong-listed firm – Suncity Group Holdings Ltd – that has an investment in Hoiana.
THE Securities and Exchange Commission (SEC) exempted Suntrust Home Developers, Inc.’s proposed issuance of P5.6 billion, 6% convertible bonds to Summit Ascent Investments Ltd. from registration requirements.
Suntrust released on Monday a copy of the SEC letter dated Dec. 11, as signed by SEC Director Vicente Graciano P. Felizmenio, Jr.
Mr. Felizmenio said the company is “exempt from the registration requirements under Section 8 of the Securities Regulation Code, for which the exemption fee in the amount of P5.66 million was paid to the commission on October 08, 2020…”
Mr. Felizmenio added the convertible bonds to be issued in favor of Summit Ascent Investments is an “exempt transaction” under the Securities Regulation Code, as it is a “sale of securities by an issuer to fewer than 20 persons in the Philippines during any 12