Macau Legend has reported a delay in the release of the audited annual results for the year ended December 31.<\/p>\n\n\n\n\n\n\n\n
Macau.- Macau Legend Development Ltd\u00a0<\/strong>has reported that due to a delay in the release of its audited annual results for the year 2021, it expects its stock to be suspended from quotation on The Stock Exchange of Hong Kong from 9am on April 1. It said it may not be able to published its 2021 results on time for March 31<\/p>\n\n\n\n The statement reads: \u201cAccording to Rule 13.50 of the Listing Rules, The Stock Exchange of Hong Kong Limited will normally require suspension of trading in an issuer\u2019s securities if an issuer fails to publish periodic financial information following the Listing Rules, and the suspension will normally remain in force until the issuer publishes an announcement containing the requisite financial information.”<\/p>\n\n\n\n The company attributed the\u00a0delay to travel restrictions and quarantine measures occasioned\u00a0<\/strong>by the Covid-19 pandemic, which “brought difficulties to the financial reporting and consolidation process of the Company\u2019s operations, and thus will require additional time to complete the process.”\u00a0<\/p>\n\n\n\n A few weeks ago, Macau Legend reported\u00a0Melinda Chan Mei Yi<\/a>\u00a0has returned as chief executive officer following the\u00a0arrest of Levo Chan Weng Lin<\/a>\u00a0<\/strong>for allegedly engaging in illegal gambling activities and money laundering.<\/p>\n","protected":false},"excerpt":{"rendered":" Macau Legend has reported a delay in the release of the audited annual results for the year ended December 31.<\/p>\n","protected":false},"author":176,"featured_media":26795,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau Legend Development Ltd. has announced a delay in publishing its audited 2021 annual results, attributing it to COVID-19 related travel restrictions impacting financial reporting. This delay will result in the suspension of its stock from trading on The Stock Exchange of Hong Kong from April 1, 2022, in accordance with Listing Rules. The company recently appointed a new CEO following the arrest of the former CEO on charges of alleged illegal gambling and money laundering.","focusai_entities":"Macau Legend Development Ltd., The Stock Exchange of Hong Kong, Melinda Chan Mei Yi, Levo Chan Weng Lin","focusai_location":"Macau, Hong Kong","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (1.0), operator_casino (0.8), payments_fraud_aml (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Impact on Macau GGR?","query":"What are the broader implications of Macau Legend's financial reporting delays and governance issues on the overall GGR outlook and investor sentiment for the Macau gaming vertical?"},{"label":"Regulatory Enforcement Scope?","query":"Given the former CEO's arrest for alleged illegal gambling and money laundering, what enhanced regulatory enforcement actions or governance framework reviews can be anticipated from Macau's gaming authorities?"}],"footnotes":""},"categories":[157,16338],"tags":[23906,22593],"class_list":["post-28320","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-macau-casinos","tag-macau-legend"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28320","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=28320"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28320\/revisions"}],"predecessor-version":[{"id":28350,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28320\/revisions\/28350"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26795"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=28320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=28320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=28320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}