Tsang Ka Hung steps down as Macau Legend chief financial officer

Tsang Ka Hung says he has stepped down in order to pursue career development opportunities

Macau.- Macau Legend Development has reported that Tsang Ka Hung has tendered his resignation as chief financial officer (CFO), executive director and company secretary with effect from October 31. Tsang will also cease to be a member of the nomination committee.

Tsang is said to be pursuing other career development opportunities. The company said: “Tsang has confirmed that he has no disagreement with the board and there are no matters relating to his resignation that need to be brought to the attention of the shareholders of the company.”

The board of Macau Legend expressed its gratitude to Tsang for his contributions to the company and said it will identify a suitable candidate to fill the vacancy as soon as practicable. For the first half of the year, the casino operator reported revenue of HK$543.8m, a 3.1 per cent rise from 2021, and a net loss of HK$485.5m (US$61.9m) compared to HK$688.6m (US$88.5m) in the first six months of 2021.

In August, the company announced that its Macau Fisherman’s Wharf International Investment Ltd (MFW) subsidiary had disposed of bonds with an aggregate principal amount of HK$200m (US$25.5m) through the open market. The company said the disposal was a good opportunity to strengthen cash flow and better structure its asset portfolio.