{"id":777020661,"date":"2024-11-12T10:02:08","date_gmt":"2024-11-12T13:02:08","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777020661"},"modified":"2026-04-22T04:17:22","modified_gmt":"2026-04-22T07:17:22","slug":"bennie-kwok-kai-bun-steps-down-as-independent-non-executive-director-of-let-group","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/bennie-kwok-kai-bun-steps-down-as-independent-non-executive-director-of-let-group","title":{"rendered":"Bennie Kwok Kai Bun steps down as independent non-executive director of LET Group"},"content":{"rendered":"\n

Only Andrew Lo Kai Bong remains on the board.<\/p>\n\n\n\n\n\n\n\n

Hong Kong.-\u00a0LET Group Holdings<\/strong>\u00a0has announced that Bennie Kwok Kai Bun<\/strong> has stepped down as an independent non-executive director to devote more time to his other pursuits and family commitments. It said there was no disagreement with the board. <\/p>\n\n\n\n

The company now has no independent non-executive director and no member on the audit committee, remuneration committee and nomination committee. Andrew Lo Kai Bong<\/strong>, the company\u2019s chairman and owner, is now the sole member of the risk management committee.<\/p>\n\n\n\n

LET Group said it will make “every effort to identify suitable candidates to fill the vacancies” within three months in accordance with the requirements of Hong Kong Listing Rules.<\/p>\n\n\n\n

Kwok Kai Bun\u2019s exit follows the resignations of Tou Kin Chuen<\/strong> and John Lo Wa<\/strong>i on November 5. It’s the second time in less than a year that LET Group\u2019s board has been reduced to Lo alone. In January, five out of six directors resigned<\/a> in opposition to the failed sale of the Tigre de Cristal casino<\/a> in Russia.\u00a0<\/p>\n\n\n\n

LET Group\u2019s shares continue to be suspended by the Hong Kong Securities and Futures Commission (SFC), which expressed concerns regarding the validity of the sale.\u00a0In October, the SFC started legal proceedings<\/a> to obtain a share repurchase order to safeguard independent minority shareholders. The SFC is also seeking to disqualify Andrew Lo<\/strong> due to alleged misconduct towards the companies\u2019 members.<\/p>\n","protected":false},"excerpt":{"rendered":"

Only Andrew Lo Kai Bong remains on the board.<\/p>\n","protected":false},"author":176,"featured_media":777006346,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"LET Group Holdings faces significant corporate governance challenges following the resignation of Bennie Kwok Kai Bun, leaving the board without independent non-executive directors and key committee members. This exacerbates prior board exits and regulatory scrutiny, with the Hong Kong SFC having suspended the company's shares, initiated legal proceedings for a share repurchase, and seeking to disqualify Chairman Andrew Lo Kai Bong for alleged misconduct.","focusai_entities":"LET Group Holdings, Bennie Kwok Kai Bun, Andrew Lo Kai Bong, Tou Kin Chuen, John Lo Wai, Hong Kong Securities and Futures Commission","focusai_location":"Hong Kong, Russia","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.9), operator_casino (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"SFC Enforcement Impact","query":"What are the potential long-term implications of the Hong Kong SFC's legal proceedings and share repurchase order for LET Group's operational viability and market re-entry?"},{"label":"Governance Framework Review","query":"How will LET Group address the critical deficiencies in its corporate governance framework, particularly the absence of independent non-executive directors and key committee members, to regain regulatory compliance and investor confidence?"}],"footnotes":""},"categories":[157,16338],"tags":[24197],"class_list":["post-777020661","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-let-group-holdings"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020661","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=777020661"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020661\/revisions"}],"predecessor-version":[{"id":777020664,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020661\/revisions\/777020664"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777006346"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777020661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777020661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777020661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}