Detained in Cambodia? <\/strong><\/h2>\nLanding had said it had no knowledge of its chairman\u2019s whereabouts, although a number of media reports claimed Yang had been detained in Phnom Penh, Cambodia, and extradited to China, allegedly on corruption charges.<\/p>\n
These claims first appeared in Hong Kong-based financial markets analysis website, winmoney.hk<\/em>, which cited \u201csources within the gaming industry.\u201d The site also published a photograph showing a man who looked like Yang apparently being arrested at Phnom Penh airport.<\/p>\nCaixin<\/em>, a financial news website based on the mainland, repeated the claims, which it said it had been able to confirm through separate sources.<\/p>\n\n
In its Monday note, Landing made no mention of which specific department of the People\u2019s Republic of China Yang had spent the past three months assisting, nor the nature of its enquiries. But it was likely to have been the country\u2019s anti-corruption watchdog, the Central Commission for Discipline Inspection (CCDI).<\/p>\n<\/div>\n
Both winmoney<\/em> and Caixin<\/em> claimed Yang was wanted for questioning over his business links to the state-owned Huarong International Financial Holdings.<\/p>\nHuarong\u2019s chairman, Lai Xiaomin, resigned in April after he became the subject of unspecified but \u201cserious violations of discipline and laws.”<\/p>\n
Crash Landing <\/strong><\/h2>\nLanding was forced to suspend trading on its stock in August just before the official announcement of Yang\u2019s disappearance when share prices plunged 35 percent in just two hours.<\/p>\n
Stock crashed again on October 2 when the Hong Kong\u2019s Government Gazette<\/em> reported that the Securities and Futures Commission of Hong Kong (SFC) had frozen $1.3 billion in assets of an unnamed chairman of a public company who had apparently lost contact with his board.<\/p>\nThe SFC said the chairman was possibly abroad or under investigation in China on suspicion of corruption, according to The Gazette<\/em>.<\/p>\nIncredibly, the unfortunate chairman described may not have been Yang at all. According to Bloomberg<\/em>, \u201cat least\u201d three company chairmen have gone missing from Hong Kong-listed Chinese firms this year alone, all probably ensnared by Beijing\u2019s endless \u201canti-corruption\u201d campaign.<\/p>\nOn a brighter note, few things improve a company\u2019s value like a previously missing chairman\u2019s sudden reappearance — and, sure enough, the markets reacted positively to Yang\u2019s reappearance on the scene. Landing stock was up 10 percent by the end of trading on Monday.<\/p>\n","protected":false},"excerpt":{"rendered":"
Landing International\u2019s misplaced chairman, Dr Yang Zhihui, is back, the company announced Monday. Yang was reported missing in August, shortly after attending a groundbreaking ceremony for Landing\u2019s proposed $1.5 billion integrated resort in Entertainment City, the Philippines, a project now in jeopardy. In a brief filing to the Hong-Kong Stock Exchange, the casino developer explained […]<\/p>\n","protected":false},"author":36,"featured_media":93367,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,21,18,1],"tags":[],"acf":[],"yoast_head":"\n
Missing Landing International Chairman Resurfaces After Three Months<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n