Non-executive director Wong steps down from Summit Ascent board

| By Marese O'Hagan
Summit Ascent, a subsidiary of SunCity, has announced the resignation of its non-executive director Wong Pak Ling Philip.

The resignation will take effect immediately.

Summit Ascent owns and operates the Russian casino resort Tigre de Cristal in Vladivostok.

In a press release Summit Ascent stated that Wong’s resignation was “in the best interests of the company”, adding that it will allow him to address “personal matters”.

In addition the release states that no matters in the resignation need to be shared with company shareholders or the Hong Kong Stock Exchange, suggesting the decision was not related to the ongoing scandal regarding chairman Alvin Chau.

Earlier this week, in the wake of former SunCity and Summit Ascent chairman Alvin Chau’s arrest on suspicion of illegal gambling, Summit Ascent and SunCity stated that to their knowledge no investigations were taking place regarding other subsidiaries, staff or directors.

SunCity also stressed that the Tigre de Cristal resort was not involved in any illegal activity.

Chau announced his intent to resign from his roles as board chairman and non-executive director of Summit Ascent, along with board chairman and executive director of SunCity, on 30 November.

He was arrested on 27 November and was asked to provide information on a cross-border gambling syndicate. The syndicate is suspected of setting up an illegal live betting platform in the Philippines, which drew customers from China through a Macau junket.

The group allegedly used local bank accounts to move the revenue gained from the activity.

If convicted, members of the syndicate could spend 10 to 12 years in prison.

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