Suntrust appoints independent directors amid Parañaque casino delays
Suntrust Resort Holdings appointed new directors and officers as its Parañaque casino project experiences ongoing delays.Summary
Suntrust Resort Holdings, Inc. has made several changes to its board and key officer positions amid delays in its Westside Integrated Resort Project in Parañaque City. Christine P. Base and Rus Kristoffer B. Parcia were appointed as independent directors, replacing Jesus B. Varela and Eugenio B. Reducindo, who resigned for personal reasons. Monina Jane S. Nazal was named corporate secretary and chief information officer, succeeding Nelileen S. Baxa. Additionally, Neoli Mae L. Kho and Maria Carla T. Uykim resigned as treasurer and assistant corporate secretary, respectively, also citing personal reasons. These changes follow the earlier appointment of Yip Ho Chi and Lam Hung Tuan as directors. The Westside Integrated Resort Project, undertaken with Travellers International Hotel Group, is facing setbacks due to funding constraints and coordination issues, despite being scheduled to open in the third quarter. Suntrust holds a 20% stake in the project and is closely monitored by market participants due to its significance to the gaming and tourism sectors.
(Source：Businessworld Online)