Stanley Ho<\/a><\/em><\/strong>.<\/p>\n\n\n\nAt its annual board meeting, Daisy Ho Chiu Fung was elected chairman and executive director of the company, replacing veteran casino executive Louis Ng Chi Sing, who was also chief operating officer (COO).<\/p>\n\n\n\n
He has been re-designated as a non-executive Director of the company, leaving the executive committee from June 10.<\/p>\n\n\n\n
Mr. Ng Chi Sing is 68 years old and has over 40 years of experience in the casino industry. He has been a member of the SJM board’s executive committee since 2009, and COO of subsidiary Sociedade de Jogos de Macau, S.A since 2002. He has now been appointed as an adviser.<\/p>\n\n\n\n
He also still holds 2.09 per cent of existing issued shares of the holding and has rights to subscribe another 0.56 per cent, although the company said Mr. Ng had no interest in shares.<\/p>\n\n\n\n
The firm said: \u201cCovered under Mr. Ng\u2019s letter of appointment, he is entitled to receive from the Company an annual director\u2019s fee allowance totaling HK$650,000 (on pro-rata basis) in 2020, as well as a monthly advisory fee covered under a letter of appointment and an allowance totalling HK$330,000 for his role as adviser of SJMSA.\u201d<\/p>\n\n\n\n
Shareholders at the annual meeting accepted the proposed financial statements and reports for the year ending December 31. A final dividend of HK22 cents per ordinary share was declared.<\/p>\n\n\n\n
Timothy Fok Tsun Ting, Angela Leong On Kei and So Shu Fai were re-elected as executive directors.<\/p>\n\n\n\n
After the meeting SJM <\/strong><\/em>vice chairman and CEO Ambrose So Shu Fai recognised turnover for the year so far was only 10 per cent that of the same period last year.<\/p>\n\n\n\nHe said the outlook for casinos was \u201cnot optimistic\u201d for this year, but that he was confident \u201cthe worst has passed,\u201d Macau Business reported.<\/p>\n","protected":false},"excerpt":{"rendered":"
Daisy Ho Chiu Fung was elected chairman and executive director of the company at the annual board meeting.<\/p>\n","protected":false},"author":2,"featured_media":7168,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"SJM Holdings Limited has announced significant leadership transitions, with Daisy Ho Chiu Fung succeeding Louis Ng Chi Sing as Chairman and Executive Director. Ng Chi Sing transitions to a non-executive director and adviser role, retaining shareholdings. The company also reported a challenging financial outlook for the current year, with turnover at 10% of the prior year, though leadership expressed confidence in a recovery.","focusai_entities":"SJM Holdings Limited, Daisy Ho Chiu Fung, Stanley Ho, Louis Ng Chi Sing, Sociedade de Jogos de Macau, S.A, Timothy Fok Tsun Ting, Angela Leong On Kei, So Shu Fai, Ambrose So Shu Fai, Macau Business","focusai_location":"Hong Kong, Macau","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), compliance_legal (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Succession Impact","query":"What are the anticipated strategic shifts in SJM Holdings' market positioning and capital allocation under Daisy Ho Chiu Fung's new executive leadership, particularly concerning non-gaming verticals and regional expansion?"},{"label":"Governance Evolution","query":"How will the re-designation of Louis Ng Chi Sing to a non-executive role and adviser impact the operational governance framework and executive decision-making processes within SJM Holdings?"}],"footnotes":""},"categories":[157,16338],"tags":[16470,6942],"class_list":["post-7150","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-east-asia","tag-sjm"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/7150","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=7150"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/7150\/revisions"}],"predecessor-version":[{"id":777010383,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/7150\/revisions\/777010383"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/7168"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=7150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=7150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=7150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}