{"id":777027816,"date":"2025-06-16T08:36:45","date_gmt":"2025-06-16T11:36:45","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777027816"},"modified":"2026-04-21T21:53:34","modified_gmt":"2026-04-22T00:53:34","slug":"melinda-chan-retires-from-board-of-macau-legend","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/melinda-chan-retires-from-board-of-macau-legend","title":{"rendered":"Melinda Chan retires from board of Macau Legend"},"content":{"rendered":"\n

The decision comes as part of a broader board restructuring.<\/p>\n\n\n\n\n\n\n\n

Macau.- Melinda Chan Mei Yi<\/strong> has retired from the board of Macau Legend<\/strong>. The decision was communicated after an annual general meeting held on June 13 and is part of a broader board restructuring. Meanwhile, Charles Wang Hongxin<\/strong> has retired as an independent non-executive director. <\/p>\n\n\n\n

Lam Shu Yan <\/strong>and Ma Cheuk Ling<\/strong> were elected as an executive director and an independent non-executive director. Ma has also been appointed as the new chairman of the Remuneration Committee, in addition to serving as a member of the Audit Committee and the Nomination Committee.<\/p>\n\n\n\n

Chan Mei Yi had been appointed as chief executive officer of Macau Legend in March 2022<\/a> following the arrest of her husband, Levo Chan Weng Lin<\/strong>, for alleged illegal gambling activities and money laundering. In December 2022, Chan stepped down as interim CEO, but remained an executive director.<\/p>\n\n\n\n

\u201cWe thank Ms. Chan for her contributions and dedication during her tenure,\u201d the Macau Legend statement reads. <\/p>\n\n\n\n

\"Macau<\/figure>\n\n\n\n

Macau Legend posts loss of US$80m for full-year 2024<\/h2>\n\n\n\n

In March, Macau Legend Development<\/strong> posted a full-year loss of HK$622.6m (US$80m)<\/a>, compared to a loss of HK$4.9m (US$612,500m)\u00a0in the previous year<\/a>.<\/p>\n\n\n\n

Revenue<\/strong> was up 4.3 per cent when compared to the previous year at HK$901.6m (US$96.4m). Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA<\/strong>) reached HK$159.8m (US$20m), up 65.2 per cent year-on-year. Revenue for gaming services received from SJM Holdings<\/strong> for mass market tables in Legend Palace Casino<\/strong> rose by 17.1 per cent year-on-year to HK$393.1m (US$50.3m).<\/p>\n\n\n\n

The company attributed the widened loss to impairment losses of approximately HK$376.2m (US$47.0m) recognised in relation to non-financial assets held by investment projects in Macau and Cape Verde<\/strong> as well as the write-back of a provision for Macau complementary tax of HK$415.5m (US$51.9m).<\/p>\n\n\n

\n\t\t\tSee also:<\/span><\/p>\n
\n\t\t\t\t\"\"<\/p>\n

\n\t\t\t\t\tSee also:<\/span> Macau Slot to reduce foreign manpower<\/a>\n\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

The decision comes as part of a broader board restructuring.<\/p>\n","protected":false},"author":226,"featured_media":26795,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau Legend announced a significant board restructuring, including the retirement of Melinda Chan Mei Yi and Charles Wang Hongxin, alongside new executive and independent director appointments. This governance shift occurs as the company reported a full-year 2024 loss of US$80m, primarily driven by substantial impairment losses on investment projects in Macau and Cape Verde, despite an increase in revenue and adjusted EBITDA.","focusai_entities":"Macau Legend, Melinda Chan Mei Yi, Charles Wang Hongxin, Lam Shu Yan, Ma Cheuk Ling, Levo Chan Weng Lin, SJM Holdings, Macau Slot","focusai_location":"Macau, Cape Verde","focusai_target_profile":"ceo_executive (0.9), regulator (0.8), compliance_legal (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Board Restructuring Impact?","query":"What is the strategic rationale behind Macau Legend's board restructuring, and how will the new leadership influence its operational turnaround and market positioning within the competitive Macau gaming vertical?"},{"label":"Financial Loss Drivers?","query":"Given the significant impairment losses of HK$376.2m, what specific non-financial assets in Macau and Cape Verde were affected, and what is the company's strategy to mitigate future asset value erosion and improve profitability?"}],"footnotes":""},"categories":[157,16338],"tags":[22593],"class_list":["post-777027816","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-macau-legend"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777027816","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\/226"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777027816"}],"version-history":[{"count":5,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777027816\/revisions"}],"predecessor-version":[{"id":777027838,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777027816\/revisions\/777027838"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26795"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777027816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777027816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777027816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}