Suncity to diversify IR portfolio across Asia in the future
Alvin Chau, Suncity Group Chairman in his letter to shareholders in the company’s annual report stated that he envisions his company to diversify their portfolio of integrated resorts across Asia’s major jurisdictions in the near future.
“This is a very exciting time for myself to witness my vision for Suncity to sprout from ground zero into a truly integrated resort –” Chau stated.
Chau also reveals on the Suncity Group Holdings’ 2019 annual report filed on Thursday, the groundbreaking ceremony for its development of the Westside City project in Metro Manila’s Entertainment City to happen “soon,” and expects to attend the momentous event while staff are subsequently working hard to be ready for a preview of its flagship Hoiana resort in Vietnam this summer.
On Monday, during the ICE Asia digital conference for the casino sector, PAGCOR’s Chairperson, Andrea Domingo, expressed, “hope” for the Philippine casinos to open in June on a “graduated basis”.
Due to Covid-19, the grand opening of Hoiana has been delayed to 2021, but Chau indicates the group’s investment in Vietnam is long-term, and holds its positive views on the market.
“Our long-term confidence towards the Vietnam market remains positive, given Vietnam’s extraordinary growth prior to the pandemic,” Chau expressed.
Mr Chau also noted that the group would be “completing the upgrade works of Tigre de Cristal Phase 1 in Vladivostok, Russia” this year. Moreover, the group also bought a parcel of land to construct villas and hotel rooms in the Miyako Island in Japan - Making Suncity Group Holdings the largest single shareholder in Summit Ascent Holdings.
“Our long-term confidence towards the Vietnamese market remains positive, given Vietnam’s extraordinary growth prior to the pandemic,” Chau affirmed.
Mr. Chau expressed, “All of these set the stage for 2020 and beyond to become transformative years ahead for Suncity.”