Yang Zhihui (pictured), chairman of Hong Kong-listed Xinhua World, the founder of Jeju, a casino resort in South Korea, stepped down from his position as a director. That's according to a filing Tuesday by Xinhua World, known as Landing International Development Limited, until December last year.
Yang lost contact with the company in August 2018 and only returned to the company in November of that year.
At the time of Yang's return, the group said Yang had explained to the board that he had "supported the investigation to the relevant departments of the People's Republic of China during his absence."
Shinhwa World controls Jeju Shinhwa World, a foreigner-only casino in the resort island of Jeju in Korea.
The filing, which referred to his retirement after the company's annual general meeting on Tuesday, said the company had "no idea about the issues that need to be heeded to shareholders and stock exchanges" regarding Yang's retirement and had "no disagreement with the board."
Director Chan Mee Sze will serve as acting chairman until a new chairman is appointed.
Xinhua World Inc reported an annual loss of HK$216.9 million (now US$27.7 million) in 2022 in March. That compares with an annual loss of HK$1.06 billion in 2021, when Jeju tourism was still affected by the COVID-19 pandemic
BY: 슬롯사이트