{"id":777007492,"date":"2023-07-21T06:45:33","date_gmt":"2023-07-21T09:45:33","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777007492"},"modified":"2026-04-22T19:48:24","modified_gmt":"2026-04-22T22:48:24","slug":"hong-kongs-cheng-family-to-manage-hoiana-resort-golf","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/hong-kongs-cheng-family-to-manage-hoiana-resort-golf","title":{"rendered":"Hong Kong&#8217;s Cheng family to manage Hoiana Resort &amp; Golf"},"content":{"rendered":"\n<p>The family has taken over management of the resort in Vietnam following LET Group&#8217;s exit.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Vietnam.-\u00a0The <strong>Cheng family<\/strong>\u00a0of Hong Kong has taken over day-to-day management at the\u00a0<strong>Hoiana Resort &amp; Golf complex<\/strong>. The move comes as LET Group Holdings Ltd, previously responsible for the resort&#8217;s operations, has reportedly stepped back from its managerial role.\u00a0<\/p>\n\n\n\n<p>The transition was reported by Bloomberg, citing sources familiar with the matter. LET Group Holdings was previously known as\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/suncity-group-gets-go-ahead-to-change-name-let-group-holdings\" target=\"_blank\">Suncity Group Holdings Limited<\/a>. Its former CEO, Alvin Chau Cheok Wa, was\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/alvin-chau-sentenced-to-18-years-in-prison\" target=\"_blank\">sentenced to 18 years in prison<\/a>\u00a0in January.<\/p>\n\n\n\n<p>The Cheng family investment firm Chow Tai Fook Enterprises has a notable presence in the gaming industry with stakes in other casino projects.\u00a0The family&#8217;s influence also extends to entities such as Hong Kong-based Chow Tai Fook Jewellery Group and New World Development Co, a Hong Kong-listed conglomerate focused on property development, infrastructure, and services.<\/p>\n\n\n\n<p>The Hoiana Resort &amp; Golf complex is\u00a0a joint venture involving Chow Tai Fook Enterprises, LET Group Holdings and VinaCapital, a Vietnam-based investment management firm. It has a foreigner-only casino, a meticulously designed golf course and four accommodations options: Hoiana Hotel &amp; Suites, Hoiana Residences, New World Hoiana Hotel and the recent addition of New World Hoiana Beach Resort, which opened in late April with 330 rooms.<\/p>\n\n\n\n<p>In March,\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/hoiana-resort-opens-lets-win-group-club\" target=\"_blank\">Let&#8217;s Win Group<\/a>\u00a0held an opening ceremony for a gaming club at Hoiana Resort &amp; Golf.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The family has taken over management of the resort in Vietnam following LET Group&#8217;s exit.<\/p>\n","protected":false},"author":176,"featured_media":7265,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Cheng family, through Chow Tai Fook Enterprises, has assumed day-to-day management of the Hoiana Resort & Golf complex in Vietnam, following the reported exit of LET Group Holdings. This operational transition occurs amidst LET Group's historical ties to Suncity Group and its former CEO's legal issues, signaling a significant governance shift for the integrated resort.","focusai_entities":"Cheng family, Chow Tai Fook Enterprises, LET Group Holdings Ltd, Suncity Group Holdings Limited, Alvin Chau Cheok Wa, Bloomberg, Chow Tai Fook Jewellery Group, New World Development Co, VinaCapital, Let\u2019s Win Group","focusai_location":"Vietnam, Hong Kong","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.8), operator_casino (0.8), investor_analyst (0.9), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Hoiana Management Impact","query":"What specific operational and strategic changes can be anticipated at Hoiana Resort & Golf under the Cheng family's direct management, particularly concerning its foreigner-only casino vertical and B2C offerings?"},{"label":"Regulatory Scrutiny","query":"How will the change in management at Hoiana Resort & Golf influence regulatory compliance frameworks and oversight, given LET Group's historical association with Suncity Group and its former CEO's legal issues?"}],"footnotes":""},"categories":[157,16333],"tags":[8232,24197],"class_list":["post-777007492","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-hoiana","tag-let-group-holdings"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777007492","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=777007492"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777007492\/revisions"}],"predecessor-version":[{"id":777007511,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777007492\/revisions\/777007511"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/7265"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777007492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777007492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777007492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}