{"id":777004722,"date":"2023-04-27T13:25:44","date_gmt":"2023-04-27T16:25:44","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777004722"},"modified":"2026-04-22T22:27:37","modified_gmt":"2026-04-23T01:27:37","slug":"sjm-holdings-announces-retirement-of-ceo-ambrose-so-shu-fai","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/sjm-holdings-announces-retirement-of-ceo-ambrose-so-shu-fai","title":{"rendered":"SJM Holdings announces retirement of CEO Ambrose So Shu Fai"},"content":{"rendered":"\n

Ambrose So will be succeeded by Toh Hup Hock.<\/p>\n\n\n\n\n\n\n\n

Macau.- SJM Holdings Limited<\/strong> has announced that its chief executive officer and executive director, Ambrose So Shu Fai<\/strong>, will retire on June 30. Toh Hup Hock<\/strong>, currently the deputy chief executive officer and chief financial officer, will take over both roles from July 1.<\/p>\n\n\n\n

So has been with SJM Holdings since its inception in 2006 and has led the company through many milestones, including the opening of Grand Lisboa in 2007, the expansion of its gaming operations in Macau Peninsula and Cotai and the development of Grand Lisboa Palace, which is expected to open in the second half of 2023<\/a>.<\/p>\n\n\n\n

Toh joined SJM Holdings in 2011 as chief financial officer and was appointed as deputy chief executive officer in 2019. He has over 30 years of experience in finance, accounting, and management and has played a key role in SJM Holdings\u2019 financial planning, capital management, and business strategy.<\/p>\n\n\n\n

The company stated: “The board wishes to thank So for his valuable contribution during his long tenure of office as vice-chairman, executive director and chief executive officer of the company.” The board also congratulated Toh on his appointment and expressed its confidence that he will lead the company to new heights of success.<\/p>\n\n\n\n

SJM Holdings<\/a> has recently shared its financial results for the year 2022. Net gaming revenue was HK$6.1bn (US$780m), down by 36 per cent compared to a year earlier<\/a>. The group\u2019s EBITDA was negative HK$3.1m (US$394.3m), compared with negative HK$1.58m for 2021.<\/p>\n\n\n\n

The company confirmed a loss attributable to its owners<\/a> of HK$7.80bn, up 88.2 per cent from 2021. It reported it had a 15.8 per cent share of Macau\u2019s gaming revenue, including 19.8 per cent of mass-market table gross gaming revenue and 4.9 per cent of VIP gross gaming revenue.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ambrose So will be succeeded by Toh Hup Hock.<\/p>\n","protected":false},"author":176,"featured_media":17520,"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 announced the retirement of its CEO and Executive Director, Ambrose So Shu Fai, effective June 30, with Toh Hup Hock, current Deputy CEO and CFO, assuming both roles from July 1. This leadership transition occurs as the company navigates challenging 2022 financial results, reporting a 36% decline in Net Gaming Revenue and a significant increase in attributable loss, alongside its established market share in Macau's gaming verticals.","focusai_entities":"SJM Holdings Limited, Ambrose So Shu Fai, Toh Hup Hock, Grand Lisboa, Grand Lisboa Palace","focusai_location":"Macau, Macau Peninsula, Cotai","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.85), investor_analyst (0.98), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact of Leadership Change?","query":"What strategic shifts or operational adjustments are anticipated under Toh Hup Hock's leadership, particularly concerning SJM Holdings' market share recovery and the Grand Lisboa Palace's ramp-up amidst Macau's evolving regulatory and competitive landscape?"},{"label":"Financial Outlook & Strategy?","query":"Given the reported negative EBITDA and increased net loss for 2022, what specific capital management and business strategies will SJM Holdings implement to improve profitability and enhance its competitive position in Macau's mass-market and VIP GGR segments?"}],"footnotes":""},"categories":[157,16338],"tags":[23108],"class_list":["post-777004722","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-sjm-holdings"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777004722","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=777004722"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777004722\/revisions"}],"predecessor-version":[{"id":777004739,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777004722\/revisions\/777004739"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17520"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777004722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777004722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777004722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}