It aims to streamline operations.<\/p>\n\n\n\n\n\n\n\n
The Philippines.- The tourism and leisure developer\u00a0Belle Corp<\/strong>, a co-licensee of\u00a0City of Dreams in Manila<\/a>\u00a0(CODM) and the parent company of\u00a0Premium Leisure Corp\u00a0<\/strong>(PLC), has announced plans to reduce its board of directors from nine to seven members.<\/p>\n\n\n\n According to a statement to the Philippine Stock Exchange (PSE), the intention is to increase the proportion of independent directors relative to regular directors as part of its intention to streamline operations. Given the current level of operations, the board believes that an expanded membership is no longer necessary.\u00a0The proposal will be presented\u00a0for shareholder approval at the upcoming annual meeting.<\/p>\n\n\n\n Belle Corp recently\u00a0concluded a tender offer<\/a>\u00a0for the voluntary delisting of\u00a0PLC\u00a0from the PSE. It now holds a 99.55 per cent stake in the subsidiary. For\u00a0full-year\u00a02023, the company posted\u00a0revenue of PHP5.6bn (US$98.6m)<\/a>, up 3 per cent when compared to the previous year. Net income was up 32 per cent to PHP2.4bn (US$42.6m).<\/p>\n","protected":false},"excerpt":{"rendered":" It aims to streamline operations.<\/p>\n","protected":false},"author":176,"featured_media":777013253,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Belle Corp, a co-licensee of City of Dreams Manila, is streamlining its governance framework by reducing its board from nine to seven members, increasing the proportion of independent directors. This initiative follows the successful tender offer for Premium Leisure Corp, raising Belle Corp's stake to 99.55%. For FY2023, the company reported a 3% revenue increase to PHP5.6bn and a 32% net income increase to PHP2.4bn.","focusai_entities":"Belle Corp, City of Dreams, Premium Leisure Corp, Philippine Stock Exchange","focusai_location":"Philippines, Manila","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.8), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Board Restructuring Impact","query":"What specific operational efficiencies and governance enhancements are projected from the reduction in board members and the increased proportion of independent directors, particularly concerning the oversight of gaming and leisure assets?"},{"label":"PLC Consolidation Strategy","query":"How will the full consolidation of Premium Leisure Corp, post-tender offer, influence Belle Corp's capital allocation strategy, future investment pipeline, and overall market positioning within the Philippine gaming vertical?"}],"footnotes":""},"categories":[157,16333],"tags":[23326],"class_list":["post-777015826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-belle-corp"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015826","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=777015826"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015826\/revisions"}],"predecessor-version":[{"id":777015856,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015826\/revisions\/777015856"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777013253"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777015826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777015826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777015826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}