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A metamorphosis for Suncity

Tina Dimitrijevic June 16, 2020
A metamorphosis for Suncity

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.?

C hau indicates that the group’s investment in Vietnam is long-term, and envisions positive views on the market.?

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.”??

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