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SunCity chairman Alvin Chau has resigned from his position following his arrest on suspicion of illegal gambling.

Hong Kong-listed Summit Ascent Holdings Ltd announced on Wednesday that it is to be officially included as a constituent stock of the MSCI Hong Kong Micro Cap Index, effective after the close of trading in Hong Kong on May 27. Summit Ascent promotes the Tigre de Cristal casino resort (pictured) in Vladivostok, Russia. Hong Kong-listed Suncity Group Holdings Ltd – chaired by Macau veteran junket investor Alvin Chau Cheok Wa – is the controlling shareholder of Summit Ascent, with approximately 69.66 percent. Summit Ascent has also subscribed last year to convertible bonds in Suntrust Hom...

Two senior executives of Hong Kong-listed Summit Ascent Holdings Ltd have respectively become board directors at Suntrust Home Developers Inc, a Philippine entity investing in a casino hotel in Manila that is part of the Westside City Project. The board move is according to a Suntrust filing to the Philippine Stock Exchange on Tuesday. Andrew Lo Kai Bong (pictured in a file photo), also an executive director of Hong Kong-listed Suncity Group Holdings Ltd, and deputy chairman of Summit Ascent, has been appointed a director of Suntrust, with effect from Tuesday. Mr Lo is also the chief investm...

Hong Kong-listed Summit Ascent Holdings Ltd, the promoter of the Tigre de Cristal casino resort (pictured) in Vladivostok, Russia, said the firm is now targeting the launch of the “first stage” of the second phase of the complex “in 2023”. The new launch date was mentioned in Summit Ascent’s 2020 annual report, filed to the Hong Kong bourse on Thursday. The firm did not elaborate on what the first stage of Tigre de Cristal’s expansion would comprise. The company had previously flagged 2022 as the target launch for the casino resort’s second phase. Such date was mentioned in th...

View All Result Summit Ascent to issue US$120 million loan to Philippines associate SunTrust for Manila hotel and casino development 502 VIEWS Hong Kong’s Summit Ascent Holdings has entered into an agreement to loan HK$930 million (US$120 million) to Philippines-listed SunTrust Home Developers to fund the construction of SunTrust’s hotel and casino development in Manila’s Entertainment City. The loan, to be issued by Summit Ascent subsidiary SA Investments, will be issued due to delays in Summit Ascent’s own development works in Vladivostok, Russia, where it is has started construct...