Suncity Group

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    Summit Ascent Holdings has announced board room changes after Suncity Group Holdings increased its stake in the operator of Tigre de Cristal earlier this month.

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    Suncity Group Holdings has bought a further 24.68 percent stake in Summit Ascent Holdings for HK$717.8 million ($91.5 million) as it seeks to build an “integrated tourism-related platform.”

    Summit Ascent deputy chair resigns

    Summit Ascent said its executive director and deputy chairman John Wang has resigned to pursue other business interests with effect from April 12.

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    Construction in the once sleepy seaside town of Sihanoukville is everywhere, with cranes, cement trucks, container lorries, and excavation generating clouds of endless dust.

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    Cambodia’s casino boom is continuing, with a 53 percent increase in licenses granted during 2018 and growing interest from Macau-based operators and junkets as Chinese tourism and investment surges.

    Indochina opportunities clouded by political, economic risks

    Despite regulatory uncertainty and a relatively high risk profile, land-based operators will be closely watching developments across the Indochina region over the coming months.
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