Suntrust Resort Holdings, the Philippine-listed casino arm of Hong Kong-listed LET Group, appointed a new president after the abrupt departure of David Chua, also known as Chua Ming Huat.
He was replaced by Chinese citizen Lo Kai Bong, the chair of LET Group, who is involved with the company’s international expansion.
“Mr. Chua has retired, effective on 15 July 2024. He has relinquished all his duties and responsibilities as director and president of the company on said date,” Suntrust Resort, the developer of the $1 billion Westside City casino along Manila Bay, said in a stock exchange filing on Tuesday.
Chua stepped down amid an internal investigation into unauthorized business dealings at tycoon Kevin Tan-led Travellers International Hotel Group Inc., where Chua was also forced to resign from the board, according to a report by InsiderPH.
This also led to the exit of other senior executives at Travellers, including former CEO Kingson Sian.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
