Hong Kong-listed gaming operator Landing International last month announced the appointment of three independent non-executive directors. The three— Wang Yuying, Li Mingfa and Bao Jingqiao—undertook their new roles on August 23.
Wang Yuying has been named an independent non-executive director, chairman of the audit committee and a member of the nomination and remuneration committees. She is a member of the Chinese Institute of Certified Public Accountants and a registered tax agent in the People’s Republic of China.
Li Mingfa will serve as an independent non-executive director and member of the audit, nomination and remuneration committees. A professor at Anhui University, he formerly was dean of the university law school and executive vice president of the graduate school.
Bao Jinqiao has been appointed as chairman of the nomination and remuneration committees.
In related news, Last month, Landing International informed its shareholders that it expects to record a net loss for the six months that ended June 30, due in part to a decrease in gaming revenue. Landing is a developer and operator of leisure and entertainment resorts, casinos, hotels, exhibit centers, theme parks and other attractions. It is also the owner and operator of Jeju Shinhwa World in South Korea.
Landing said the net loss is attributable to a decrease in net revenue from its gaming business; a decrease in revenue from sales of residential properties; a decrease in interest income and increase in finance costs; and an increase in amortization and depreciation charges due to the progressive opening of various facilities in Jeju Shinhwa World.
Landing posted a widened loss of HK$701.5 million (US$89.4 million) in 2018.
