Suntrust Resort Holdings has named Andrew Lo Kai Bong as its new President, succeeding David Chua Ming Huat, who has retired. The announcement came through a filing with the Philippines Stock Exchange (PSE) on Tuesday.
Suntrust is actively progressing with the development of a hotel casino at Westside City in Manila, the capital of the Philippines. Operations at this venue are slated to commence in the first quarter of 2025.
David Chua’s retirement follows his departure from the board of Travellers International Hotel Group, the operator of Newport World Resorts.
The Westside City project is a joint venture led by Suntrust and billionaire Kevin Tan’s Alliance Global Group.
According to corporate records, Suntrust is majority-owned by Hong Kong-listed casino investor firm LET Group Holdings, holding a 51.2 percent stake, with Megaworld Corp owning 33.6 percent.
Andrew Lo holds a significant 72.1-percent interest in LET Group. Megaworld operates as a partially owned subsidiary of Philippine conglomerate Alliance Global Group.
According to Tuesday’s filing, Andrew Lo will continue as Suntrust’s President ‘until his successor is elected and qualifies for the position.’
The filing also indicated that David Chua’s retirement became effective on Monday.
‘He has relinquished all his duties and responsibilities as Director and President of the Company on said date,’ notes the company.
Before joining Suntrust, David Chua was COO of Malaysian conglomerate Genting Berhad.
