{"id":15544,"date":"2021-03-05T16:50:20","date_gmt":"2021-03-05T16:50:20","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=15544"},"modified":"2026-04-23T21:18:40","modified_gmt":"2026-04-24T00:18:40","slug":"iec-chairman-sells-19-stake-in-company","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/iec-chairman-sells-19-stake-in-company","title":{"rendered":"IEC chairman sells 19% stake in company"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">No reason was given for the sale, which is worth HK$228.8m.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">Philippines.-<strong> International Entertainment Corp&#8217;s (IEC) chairman Stanley Choi <\/strong>has transferred <strong>260m shares<\/strong> \u2013 18.99 per cent of the company \u2013 <strong>to a company owned by IEC\u2019s chief executive officer <em><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/international-entertainment-names-new-ceo\" target=\"_blank\">Ho Wong Meng.<\/a><\/em><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The transaction means Choi\u2019s financial service company Brighten Path Limited will <strong>reduce its stake in IEC from 55.82 per cent to 36.83 per cent. The shares sold are worth HK$228.8m.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Choi, a renowned poker player, gave <strong>no reason for the transaction. <\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The <strong><em><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/iec-reports-us11-7m-loss-for-h2-2020\" target=\"_blank\">company reported a loss<\/a><\/em><\/strong> <strong>attributable to owners of<\/strong>&nbsp;<strong>HK$91.1m (US$11.7m)<\/strong>&nbsp;for the six months to 31 December 2020.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Ho became IEC&#8217;s CEO in September 2020, <\/strong>after Chan Chun Yiu stepped down due to increasing personal and business commitments. As well as his position at IEC, Ho is executive chairman of Frontier Capital Group.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>No reason was given for the sale, which is worth HK$228.8m.<\/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":"International Entertainment Corp (IEC) Chairman Stanley Choi has divested 18.99% of his stake, valued at HK$228.8m, to a company owned by CEO Ho Wong Meng. This transaction reduces Choi's holding from a controlling 55.82% to 36.83% amidst IEC's reported HK$91.1m loss for the second half of 2020. No rationale for the internal share transfer was disclosed.","focusai_entities":"International Entertainment Corp (IEC), Stanley Choi, Ho Wong Meng, Brighten Path Limited, Chan Chun Yiu, Frontier Capital Group","focusai_location":"Philippines","focusai_target_profile":"ceo_executive (0.9), regulator (0.75), compliance_legal (0.7), investor_analyst (0.9), journalist_researcher (0.85)","focusai_suggestions":[{"label":"Governance Impact?","query":"What are the potential implications of this significant internal share transfer on IEC's corporate governance framework and strategic decision-making, particularly given the chairman's reduced controlling stake?"},{"label":"Capital Markets Outlook?","query":"How might the HK$228.8m share transfer and the reported HK$91.1m loss influence investor sentiment and the company's capital raising capabilities in the near to medium term?"}],"footnotes":""},"categories":[163,158,16333],"tags":[20632,23727],"class_list":["post-15544","post","type-post","status-publish","format-standard","hentry","category-finance-news","category-slider-home","category-south-east-asia-news","tag-iec","tag-international-entertainment-corp"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15544","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=15544"}],"version-history":[{"count":5,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15544\/revisions"}],"predecessor-version":[{"id":15565,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15544\/revisions\/15565"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=15544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=15544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=15544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}