Zhihui has retired as director by rotation pursuant to the company by-laws.<\/p>\n\n\n\n\n\n\n\n
South Korea.- Shin Hwa World Limited<\/strong>, the former Landing International Development<\/a>, <\/strong>has announced that Yang Zhihui<\/strong> stepped down as director of the company at the conclusion of the annual general meeting. He ceased to be the chairman of the board <\/strong>under group bye-laws.<\/p>\n\n\n\n In a company filing, Shin Hwa World Limited <\/strong>stated: “The board would like to take this opportunity to express its gratitude to Dr. Yang for his past contributions to the company. The Board has been taking steps to identify a suitable person to take up the role of the chairperson of the board. The company will make further announcements as and when appropriate.”<\/p>\n\n\n\n Shin Hwa World Ltd<\/a> reported in March an annual loss of HK$216.9m (US$27.6m) for 2022. The casino firm\u2019s group-wide revenue increased by 2.7 per cent year-on-year<\/a> to nearly HK$1.39bn (US$175.8m).<\/p>\n\n\n\n The gaming business<\/strong> performed poorly due to Covid-19-related travel restrictions and competition from other casinos, resulting in a decrease in net revenue from approximately HK$88.6m in 2021 to HK$46.12m (US$5.88m). The gaming business segment recorded a loss of approximately HK$173.96m.<\/p>\n","protected":false},"excerpt":{"rendered":" Zhihui has retired as director by rotation pursuant to the company by-laws.<\/p>\n","protected":false},"author":176,"featured_media":10260,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Yang Zhihui has retired as director and chairman of Shin Hwa World Limited, formerly Landing International Development, following the company's annual general meeting. The company reported an annual loss of HK$216.9m (US$27.6m) for 2022, with its gaming business experiencing a significant decline in net revenue and a segment loss, attributed to COVID-19 travel restrictions and market competition.","focusai_entities":"Shin Hwa World Limited, Landing International Development, Yang Zhihui","focusai_location":"South Korea","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Strategic Impact of Leadership?","query":"What is the strategic impact of this leadership change on Shin Hwa World's future operational direction and market positioning, particularly concerning its gaming verticals?"},{"label":"Addressing Gaming NGR Decline?","query":"How does Shin Hwa World Limited plan to address the declining gaming Net Gaming Revenue (NGR) and overall financial losses in the current competitive and post-pandemic market environment?"}],"footnotes":""},"categories":[157,16338],"tags":[],"class_list":["post-777006486","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006486","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=777006486"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006486\/revisions"}],"predecessor-version":[{"id":777006518,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006486\/revisions\/777006518"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/10260"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777006486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777006486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777006486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}