After the resignation of Michael Basset, the Company, that struggles against a huge debt, designated Darryl Kaplan as new non-executive director.<\/p>\n\n\n\n\n\n\n\n
Nepal.- Silver Heritage Group has announced the arrival of Darryl Kaplan as new non-executive director after the resignations of Chairman James Spenceley and director Michael Bassett. The Group owns and operates Tiger Palace Resort in Nepal and Millonaire’s Club and Casino in Kathmandu.<\/p>\n\n\n\n
In an ASX announcement on Monday, Silver Heritage said Kaplan brings more than 30 years of experience in the fields of law, corporate finance and investments, primarily in Australia and South Africa. He has been an Australian resident since 1999. From that moment on he has been CEO of investment firm Astoria Investments Ltd and a director of another investment management group, Kingswood Ltd.<\/p>\n\n\n\n
The company has been forced to cease management of casino operations at Phoenix International Club in Vietnam, a role that accounted for 45% of the group\u2019s 2018 revenue.<\/p>\n\n\n\n
Last June, the Company informed that it needs to meet an AU$2 million (\u20ac1.2 million) bond repayment due March 2020 as part of a renegotiated deal with OCP Asia in September 2018. The deal allowed Silver Heritage to repay US$6.8 million of bonds and to get an extension of the maturity date of the remaining US$11.2 million through to April 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"
After the resignation of Michael Basset, the Company, that struggles against a huge debt, designated Darryl Kaplan as new non-executive director.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Silver Heritage Group, grappling with substantial debt and recent board resignations, has appointed Darryl Kaplan as a new non-executive director. This strategic board change follows the cessation of its Vietnam casino operations, which previously constituted 45% of its 2018 revenue, and ongoing efforts to manage significant bond repayments with OCP Asia.","focusai_entities":"Silver Heritage Group, Darryl Kaplan, James Spenceley, Michael Bassett, Astoria Investments Ltd, Kingswood Ltd, OCP Asia, Tiger Palace Resort, Millonaire\u2019s Club and Casino, Phoenix International Club","focusai_location":"Nepal, Kathmandu, Australia, South Africa, Vietnam","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.8), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Debt Restructuring Impact","query":"What are the specific implications of the AU$2 million bond repayment and the renegotiated OCP Asia deal on Silver Heritage Group's long-term solvency and operational capacity?"},{"label":"Governance & Strategy","query":"How will the appointment of Darryl Kaplan and the recent board resignations influence Silver Heritage Group's corporate governance framework and its strategic direction, particularly concerning its remaining assets in Nepal?"}],"footnotes":""},"categories":[160,157,16334],"tags":[],"class_list":["post-1487","post","type-post","status-publish","format-standard","hentry","category-asia-pacific","category-business-news","category-south-asia-news"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/1487","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=1487"}],"version-history":[{"count":7,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/1487\/revisions"}],"predecessor-version":[{"id":1524,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/1487\/revisions\/1524"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=1487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=1487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=1487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}