Stanley Choi Chiu Fai has resigned as executive director to focus on other business commitments.<\/p>\n\n\n\n\n\n\n\n
The Philippines.-\u00a0International Entertainment Corp (IEC)\u00a0has reported that\u00a0Stanley Choi Chiu Fai\u00a0<\/strong>has stepped down as executive director of the company to devote more time to other business commitments which require more of his attention.<\/p>\n\n\n\n According to the company filing,\u00a0Choi has no disagreement with the board\u00a0<\/strong>and there are no matters relating to his resignation that need to be brought to the attention of the shareholders. In January, Choi entered into\u00a0<\/strong>a placing agreement with Head & Shoulders Securities Limited<\/a>\u00a0for a maximum of 190,000,000 Shares, reducing his stake in the company\u00a0from 18.75 per cent to just 4.87 per cent<\/strong>.\u00a0<\/p>\n\n\n\n IEC has also confirmed that\u00a0Aurelio Jr. Dizon Tablante has been appointed as executive director\u00a0<\/strong>with effect from April 1. Tablante was the senior vice-president of Marina Square Properties, Inc., an indirect subsidiary of the company. He was also the president of each of the company’s three indirect subsidiaries \u2013 Harbor View Properties and Holdings, Inc., Blue Marine Properties, Inc. and Pacific Bayview Properties, Inc.<\/p>\n\n\n\n Meanwhile,\u00a0Eugene Ha Kee Choy has resigned as independent non-executive director<\/strong>\u00a0“to devote more time to his other business commitments which require more of his attention and dedication.”<\/p>\n\n\n\n As Focus Gaming News previously reported, IEC has revealed through a company filing that it is still negotiating with the Philippine Amusement and Gaming Corporation (PAGCOR) over the terms of its temporary gaming licence to operate a casino in Manila<\/a>. IEC said it debating the scope and timeline for its IR development and has yet to find suitable land.<\/p>\n\n\n\nIEC still negotiating terms of provisional gaming licence with PAGCOR<\/h2>\n\n\n\n