{"id":28613,"date":"2022-04-01T06:52:33","date_gmt":"2022-04-01T09:52:33","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=28613"},"modified":"2026-04-23T09:59:28","modified_gmt":"2026-04-23T12:59:28","slug":"macau-legend-announces-governance-review-following-arrest-of-former-ceo","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/macau-legend-announces-governance-review-following-arrest-of-former-ceo","title":{"rendered":"Macau Legend announces governance review following arrest of former CEO"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The company has announced a review into the impact of the arrest of its former CEO, Levo Chan Weng Lin.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">Macau.-\u00a0<strong>Macau Legend Development Co Ltd<\/strong>\u00a0has initiated a review to assess the impact on the company from the arrest of former CEO Levo Chan Weng Lin. It&#8217;s appointed a special committee to maintain clarity in the review process, however the level of involvement of external audit firms is unclear.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-legend-development-ceo-resigns-after-arrest\" target=\"_blank\">Chan Weng Lin<\/a><strong>\u00a0<\/strong>was arrested in January together with another man for allegedly engaging in illegal gambling activities,\u00a0<strong>running a crime syndicate and money laundering<\/strong>.\u00a0He resigned as CEO of Macau Legend soon afterwards with <a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/melinda-chan-returns-as-macau-legend-ceo\" target=\"_blank\">Melinda Chan Mei Yi<\/a>\u00a0returning to replace him. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Levo Chan Weng Lin had replaced Melinda Chan Mei Yi in December 2020, with Melinda Chan remaining as executive director.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The business review is expected to be completed by mid-month. Macau Legend described the move as prudent and appropriate to ensure &#8220;good corporate governance&#8221;.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Macau Legend suspends trading due to delays in annual results<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">As <a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-legend-to-suspend-trading-due-to-delays-in-annual-results\" target=\"_blank\">Focus Gaming News reported<\/a> last week, trading in the shares of Macau Legend have been suspended with effect from 9.00am today pending publication of its 2021 annual results.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company attributed the<strong>&nbsp;delay to travel restrictions and quarantine measures occasioned&nbsp;<\/strong>by the Covid-19 pandemic, which \u201cbrought difficulties to the financial reporting and consolidation process of the Company\u2019s operations, and thus will require additional time to complete the process.\u201d&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company has announced a review into the impact of the arrest of its former CEO, Levo Chan Weng Lin.<\/p>\n","protected":false},"author":176,"featured_media":26503,"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 Co Ltd has initiated a special committee review to assess the operational and financial impact following the arrest of its former CEO, Levo Chan Weng Lin, on charges including illegal gambling and money laundering. Concurrently, the company has suspended trading of its shares due to delays in publishing its 2021 annual results, attributing the setback to COVID-19 related logistical challenges impacting financial consolidation.","focusai_entities":"Macau Legend Development Co Ltd, Levo Chan Weng Lin, Melinda Chan Mei Yi","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), regulator (0.98), compliance_legal (0.95), operator_casino (0.8), investor_analyst (0.99), supplier_vendor (0.7), journalist_researcher (0.95)","focusai_suggestions":[],"footnotes":""},"categories":[157,16338],"tags":[23906,22593],"class_list":["post-28613","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\/28613","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=28613"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28613\/revisions"}],"predecessor-version":[{"id":28624,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28613\/revisions\/28624"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26503"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=28613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=28613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=28613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}