Asia round-up: Nagacorp redesign & LVS

Following more than 25 years of growth, gaming and entertainment company NagaCorp is initiating a reshuffle within the management of the group.  

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The Board of Directors has made several changes, such as moving Dr Chen from the position of CEO to Senior CEO. This will come into effect as of 5 April 2022.  

In addition, Chen Yiy Fon, a son of the Founder, and currently standing as an Executive Director of the company will be made CEO, for operations of the company. Chen Cherchi, again a son of the Founder will be moved from Managing Director of Finance and Operations to CEO for Finance and Treasury. The Founder's son, Chen Yiy Hwuan, is to be appointed CEO for Hotels of the company. 

Current Director of Capital Investment and Corporate Finance, Cheung King Man is to be made CFO. 

And finally, Tan Sean Czoon will move from CFO for the company to CFO of the Founder’s Office. As with the initial mention, all of these positions come into effect as of 5 April 2022. 

LVS grants a further year for Marina Bay Sands development 

Las Vegas Sands (LVS) has said its planned Marina Bay Sands unit in Singapore has been granted a one-year extension before construction must begin.  

The integrated resort operator has said the Marina Bay Sands and the Singapore Tourism Board have amended the development agreement to begin construction on 8 April 2023.  

The move comes after cases of Covid-19 continue to linger in Southeast Asia. 

The expansion project is forecasted to cost up to $4.5bn and will focus on expanding non-gaming attractions at the resort, to drive up revenue from the gaming floor and slot machines.

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