Lo, Chua Join Suntrust Board

Suncity Group executive Andrew Lo (l.) and Summit Ascent CEO David Chua have joined the board of Suntrust Home Developers, which is developing a US$1 billion casino hotel in Manila.

Lo, Chua Join Suntrust Board

Suntrust Home Developers Inc., which is behind the development of a US$1 billion casino resort in Manila, has appointed Suncity Group executive Andrew Lo and newly appointed Summit Ascent Holdings CEO David Chua to its board of directors.

In a filing, Suntrust said it had accepted the resignations of two former directors, Joey I. Villafuerte and Josephine Marie R. Salazar. According to Inside Asian Gaming, Lo and Chua will serve out the rest of their terms.

Lo, as Suncity’s chief investment officer, has had a hand in the company’s Hoiana development in Vietnam and its acquisition of Summit Ascent, which holds a 77.5 percent interest in Oriental Regent Ltd., operator of the Tigre de Cristal resort in Vladivostok, Russia. Suncity has a 69.66 percent interest in Summit Ascent.

Chua joined Summit Ascent as its new executive director and CEO on May 1 after 15 years spent working for companies associated with Malaysia’s Genting Group. He was most recently chairman of Resorts World Manila operator Travellers International Hotel Group Inc.

Suncity’s Manila project is part of the Westside City Resorts World in the Entertainment City gaming district. Phase 1 is set to open late next year. The completed complex will have a casino with 400 gaming tables and 1,200 slot machines, as well as a 450-room hotel and other attractions.