It is often the head of any company that is the key to its success, however in an unusual filing with the Hong Kong Stock Exchange, Landing International Development have just announced that they have been unable to contact their Chairman since Thursday of last week, and concerns are growing for his well being.
For a company listed on any stock exchange anywhere in the world to make such a filing is very unusual, however the company has stated that they are trying desperately to contact their Chairman and they do not expect his sudden disappearance to have any short term negative effects on the company’s business dealings.
If you are unaware of who Landing Development International are, they are a huge betting and gambling company based in Asia, and amongst other things that run and operate one of the largest casinos over in South Korea, so his disappearance is rather concerning due to the nature of that company.
That filing with the Hong Kong Stock Exchange did have a very negative effect on the company’s share price which dropped sharply once the filing had been made, and it is likely to continue to do so with their main man now official classed as missing!
Worrying Times for Landing International
Landing International Development’s chairman is Yang Zhihui and there is a lot of speculation as to the exact reasons for his disappearance, as the company did experience something unusual very recently over in the Philippines.
They had just broken ground on what was expected to be the biggest casino resort in the Philippines, when the President of the country suddenly announced, and out of the blue, their lease on the land that casino resort was to be built has been pulled!
Unfavourable Terms for the Betting and Gambling Company
The main reason they have their lease pulled, was that the President of the Philippines had decided that when the lease was agreed as times were bad for the economy in that part of the world the terms of that lease were generous.
However, as the economy had recovered quite noticeably in the years since the lease was agreed, he felt that the terms were now too generous for Landing International Development, and he wasn’t prepared to allow them to continue with that lease!