Sun Entertainment Group announced last month that its board of directors wants to change the English name of the company to Yeah Group Holdings Ltd.
According to the Macau Daily Times, the group would also dispense with the existing Chinese name. Both changes are subject to the approval of a special resolution at the annual general meeting. The board stated that the new name will better reflect the company’s future direction and “enhance the image and status of the company.”
It’s also a way for Sun to distance itself from its founder, billionaire Alvin Chau, who was imprisoned in Macau in November on charges he illegally promoted gambling on the Chinese Mainland and facilitated the illegal transfer of funds.
“The board is of the view that the proposed change of the company’s name will be in the interests of the company and its shareholders as a whole,” said Sun Entertainment Group in a statement.
Chau is still in custody in Macau’s Coloane Prison pending trial. Following his arrest, the Public Prosecutions Office (MP) ordered all notaries in the city to immediately suspend undertaking any notary acts or services involving the assets of Chau and related companies, the Times has learned.
