Missing China Casino Ex-Billionaire, Yang Zhihui, is Reportedly Arrested in Cambodia

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Missing China Casino Ex-Billionaire, Yang Zhihui, is Reportedly Arrested in Cambodia

Post by CEOCambodiaNews » Fri Aug 24, 2018 8:47 pm

Missing Chinese billionaire, Yang Zhihui, has reportedly turned up in Cambodia, where he has been detained, according to Chinese news sources.

China Ex-Billionaire Goes Missing, Sparking Rout in Casino Stock
August 24, 2018, 4:59 AM GMT+2 Updated on August 24, 2018, 9:02 AM GMT+2
Landing’s board says it can’t reach chairman Yang Zhihui
Yang’s plan for a casino in Philippines recently put on hold

Landing International Development Ltd. shares headed for a record weekly plunge after the casino operator said Chairman Yang Zhihui was unreachable, delivering another shock to investors just two weeks after the company’s $1.5 billion Philippine project was thrown into doubt.

Landing has been unable to reach Yang since Aug. 23, it said in a Hong Kong stock exchange filing Thursday. Caixin reported on Friday that Yang is a target of investigators looking into ties with China Huarong Asset Management Co., a state-owned bad-debt manager whose former chairman, Lai Xiaomin, is under investigation for alleged corruption.
https://www.bloomberg.com/news/articles ... es-missing

Landing Casino Chairman Yang Zhihui Detained in Cambodia After Going Missing
August 23, 2018 By Lucas Thomas

Landing International Casino Chairman Yang Zhihui — who was earlier reported missing from the firm — has been detained in Cambodia, according to a Beijing news source that confirmed the story with multiple sources.

Caixin reported Thursday that Yang Zhihui, chairman and executive director of Hong Kong-based Landing International Development Limited, “was detained at an airport after he arrived in Cambodia Thursday for a visit to a local casino.”

Firm representatives said that they were unable to contact Yang at the Hong Kong Stock Exchange earlier in the day.
https://www.casino.org/news/landing-cha ... ng-missing

Chair of firm in deal with Nayong Pilipino reportedly detained in Cambodia
24 August 2018
Mainland news site Caixin reported Friday that Yang was being investigated by Chinese authorities probing his ties with the head of state-controlled Huarong Asset Management and had been detained in Cambodia.
China's anti-corruption agency announced in April that Huarong chairman, Lai Xiaomin, was under investigation for suspected graft.
https://www.philstar.com/business/2018/ ... d-cambodia
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Re: Missing China Casino Ex-Billionaire, Yang Zhihui, is Reportedly Arrested in Cambodia

Post by CEOCambodiaNews » Mon Aug 27, 2018 5:53 pm

Market responds to Yang Zhihui detainment as Landing shares continue slide
Monday, 27 August 2018 07:12
Shares in Landing International Development Ltd closed at HK$3.15 on Friday, having fallen almost 50% in the space of two days last week and forced a halt in trading last Thursday when the company found itself unable to contact majority shareholder Yang Zhihui.

As reported by Inside Asian Gaming late Friday, it was subsequently revealed that Yang had been detained by authorities in Cambodia in relation to previous business dealings with China’s state-owned Huarong International Financial Holdings Ltd, whose former head is being investigated in a graft probe.

Meanwhile, IAG was told on Friday that Yang had been taken back to China following his detention.
http://www.asgam.com/news/item/5196-mar ... slide.html
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Re: Missing China Casino Ex-Billionaire, Yang Zhihui, is Reportedly Arrested in Cambodia

Post by CEOCambodiaNews » Wed Nov 28, 2018 7:34 pm

Landing Int’l reports return of missing chairman Yang Zhihui
November 26, 2018
- Asian casino operator Landing International Development says its prodigal chairman Yang Zhihui has returned following his unexplained disappearing act this August.

On Monday, Landing issued a statement to the Hong Kong Stock Exchange saying Yang “has resumed his duties as the chairman of the board and the executive director on 26 November 2018.” Investors cheered Yang’s return, pushing the stock price up nearly 9% on Monday.

Yang was reported missing in August after allegedly being detained at Cambodia’s international airport, and the company’s inability to explain his whereabouts led to a sharp sell-off in Landing’s stock. The company now claims that Yang “explained that he has been assisting the relevant department of the People’s Republic of China with its investigation during the period of his absence.”

Image
Yang’s absence also triggered a collapse in business at Landing’s largest gaming operation, the Jeju Shinhwa World property in South Korea. The casinos on Jeju Island rely on a steady stream of Chinese gamblers and Landing’s casino reported “negative sales of KRW3b” (US$2.7m) in September as news of Yang’s suspected incarceration spread.

Jeju Shinhwa’s September plunge was reportedly due to its Chinese VIP customers cashing out all their chip holdings, suggesting that these high-rollers feared Yang could provide detailed information on his casino customers’ history of moving money out of China.
https://calvinayre.com/2018/11/26/casin ... i-returns/
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