12/17/21 Alvin Chau Cheok Wa may lose Suncity Group due to unpaid debts Alvin Chau Cheok Wa could lose his controlling stake in Suncity Group after his company failed to pay over HK$313.6m (US$40.2m) to a group of lenders.
12/15/21 Suncity to sell business jet to boost liquidity Suncity Group Holdings has announced it will sell a business jet that the company acquired fewer than two years ago.
12/13/21 Suncity Group could change hands due to Cheok Wa debt Star Soul Investments Ltd, a company led by Alvin Chau Cheok Wa, must repay just over HK$313.6m (US$40.2m) to a group of lenders.
12/13/21 Macau to provide assistance to Suncity employees Macau’s Labour Affairs Bureau (DSAL) will provide consultation on labour rights to Suncity workers who have been affected by the closure of the company’s VIP rooms.
12/10/21 Suncity and Summit Ascent shares suspended from trading The shares of Suncity Group Holdings and its Summit Ascent division were suspended from trading on Thursday after an announcement that an associate of its controlling shareholder may have a loan default.
12/02/21 Macau’s premium mass business could be affected by Alvin Chau arrest Analysts at J.P. Morgan has noted that 10 to 20 per cent of Macau’s premium mass business is connected to junkets.
12/02/21 Westside City Project progressing as scheduled, Suntrust says SunTrust, Suncity Group’s subsidiary in the Philippines, has said the arrest of Alvin Chau Cheok Wa won’t affect the Westside City Project’s completion date.
12/02/21 Macau: DICJ confirms suspension of Suncity VIP rooms The Gaming Inspection and Coordination Bureau (DICJ) has confirmed that Suncity Group Holdings has closed all of its VIP rooms in Macau.
12/01/21 Suncity Group closes all VIP rooms in Macau Suncity Group Holdings has decided to close all of its VIP rooms in Macau until further notice.
11/30/21 Alvin Chau to step down as Suncity CEO Suncity has revealed that Alvin Chau has submitted his resignation amid concerns his arrest could affect company performance.
11/29/21 Suncity Group chairman arrested in Macau Authorities in Macau have confirmed that Alvin Chau and 11 others have been arrested over cross-border gambling and money laundering accusations. Macau casino stocks fell on the news.
11/26/21 Arrest warrant issued for Suncity Group’s chairman The Wenzhou City Prosecutor’s Office has issued an arrest warrant for Alvin Chau, CEO of Suncity Group Holdings, for allegations of cross-border gambling activities.
11/25/21 Westside City Project pushed back to 2024 SunTrust, Suncity Group’s subsidiary in the Philippines, has announced that the Westside City Project’s completion date will be no later than March 31, 2024.
11/15/21 Suncity’s Westside City Project remains on track for opening in 2023 SunTrust, Suncity Group’s subsidiary in the Philippines, has announced that operations at its Westside City Project will start in 2023.
10/27/21 Suntrust Resort Holdings appoints Sutha Kandiah as CFO The former Suntrust Home Developers Inc has announced Sutha Kandiah will be its new chief financial officer (CFO).
