Asia
Summit Ascent Announces Boardroom Changes
Summit Ascent Holdings, the Hong Kong-based an investment holding company has announced boardroom changes after Suncity Group Holdings, the Hong Kong-based property development company, increased its stake in the operator of Tigre de Cristal in Vladivostok.
Andrew Lo Kai Bong, Suncity’s chief investment officer, has been appointed as deputy chairman of the board. Suncity’s chief financial officer Chiu King Yan has been appointed as executive director. Kuo Jen Hao resigned as non-executive director and chairman of the board.
Suncity said that it had bought a further 24.68% stake in Summit Ascent for HK$717.8m as it seeks to build an “integrated tourism-related platform.”
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