Westside City Project\u2019s<\/a>\u00a0will be completed no later than March 31, 2024.<\/p>\n\n\n\nThe subsidiary said that Alvin Chau Cheok Wa’s arrest in Macau “is not expected to have a significant impact on the construction schedule of the West Side Hotel and Casino.”<\/p>\n\n\n\n
Suncity Group Holdings Ltd. owns 51 per cent of Suntrust Home Developers shares. Suntrust added that as of September 30, its balance sheet reflects \u201capproximately PHP7.7bn (US$152.7m) in cash and cash equivalents, which will support the immediate construction and operation of the Westside City Project.”<\/p>\n\n\n\n
The US$1bn project will include 400 gaming tables and 1,200 slot machines<\/strong>, 400 five-star hotel rooms and 960 parking spaces covering 44,000 square metres.<\/p>\n","protected":false},"excerpt":{"rendered":"SunTrust, Suncity Group\u2019s subsidiary in the Philippines, has said the arrest of Alvin Chau Cheok Wa won’t affect the Westside City Project\u2019s completion date.<\/p>\n","protected":false},"author":176,"featured_media":25154,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Suntrust Home Developers Inc., a Suncity Group subsidiary, has affirmed that its Westside City Project in Manila remains on track for a March 31, 2024 completion, despite the recent arrest of Suncity Group CEO Alvin Chau Cheok Wa. The company cited robust cash reserves of PHP7.7bn (US$152.7m) to support the US$1bn integrated resort development, which will feature extensive gaming and hospitality facilities.","focusai_entities":"SunTrust, Suncity Group, Suntrust Home Developers Inc., Alvin Chau Cheok Wa","focusai_location":"Philippines, Manila, Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.9), operator_casino (0.85), payments_fraud_aml (0.7), investor_analyst (0.95), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Westside Project Funding?","query":"What specific financial instruments or guarantees are in place to insulate the Westside City Project's PHP7.7bn cash reserves from potential liquidity or asset seizure issues related to Suncity Group's legal challenges?"},{"label":"Governance Framework Review?","query":"Has Suntrust Home Developers Inc. initiated a review of its independent governance frameworks and board composition to mitigate future operational risks stemming from parent company leadership instability?"}],"footnotes":""},"categories":[157,158,16333],"tags":[23702,22948],"class_list":["post-25131","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-slider-home","category-south-east-asia-news","tag-suncity-group","tag-suntrust"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/25131","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=25131"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/25131\/revisions"}],"predecessor-version":[{"id":25141,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/25131\/revisions\/25141"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25154"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=25131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=25131"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=25131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}