Casino firm Landing says chairman back after assisting China probe

Shin Hwa World

27/11/2018 01:14

HONG KONG, Nov 27 (Reuters) - Casino operator and resort
developer Landing International Development Ltd  0582.HK  said
its chairman and executive director, Yang Zhihui, resumed duties
on Monday after assisted an investigation in China.
    Landing did not provide any details on the investigation,
but added it had been unable to contact Yang since Aug. 23.
    Landing shares had plunged more than 30 percent after the
company reported on Aug. 24 that it had been unable to contact
Yang for over a day. The news had come only weeks after the
firm's $1.5 billion casino project in the Philippines was halted
by authorities.  urn:newsml:reuters.com:*:nL3N1VF1DP
    "Mr. Yang explained that he has been assisting the relevant
department of the People's Republic of China with its
investigation during the period of his absence," Landing said in
a filing to the Hong Kong bourse late on Monday.
    The company's business and operations have been steady and
normal during the period while Yang was absent, it said. 
    Yang was involved in property development in China's eastern
Anhui province before joining Landing in 2013. Casino executives
said he has a close relationship with Macau junket operators,
who facilitate the VIP high-roller gambling business.
 ($1 = 7.8226 Hong Kong dollars)

 (Reporting by Donny Kwok; Editing by Anne Marie Roantree and
Himani Sarkar)
 ((donny.kwok@thomsonreuters.com; +852 2843 6470; Reuters
Messaging: donny.kwok.reuters.com@reuters.net))