Landing Intnich Interchanges With Shinhwa World

The name change of Hong Kong-listed casino developer Landing International Development to “Shinhwa World Limited” was confirmed by the Hong Kong Companies Registry on Tuesday, the company said in a filing Thursday.

Landing International operates Jeju Shinhwa World, a casino resort exclusively for foreigners in Jeju, South Korea. Previously, the company was connected to the Philippine resort complex.

The company said in late October that it plans to change its name to “Shinhwa World Co., Ltd.” because it believes the board will “better reflect the group’s business development status and future development directions.”

The company has adopted a new company logo as part of the change, the filing said Thursday.

The notice also clarified that the old-name company’s existing sovereignty is “continued to be evidence of legal title,” adding that “there will be no agreement to exchange the company’s existing sovereignty free of charge for new sovereignty accordingly.” 파칭코

All newly issued stock certificates will only be used with new names in the future.

In early November, the group said it had decided to “suspend all administrative and executive duties and powers” of Yang Ji-hui as chairman and executive director of the company from November 18 until further notice. Yang is also a major shareholder of the company.

The group says the decision stems from a court petition filed by the Hong Kong Securities and Futures Commission against Yang.

The company reported a net loss of nearly HK$150.4 million ($13.4 million) in the first half of the year, compared with a loss of HK$623.7 million a year ago in August.

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