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The storage vats of the casino company as chairman are lost



  China's top executives disappear

Shares in a casino operator in Asia crashed after the chairman was missing.

Landing International Development owns one of South Korea's largest casinos. The stock has fallen nearly 50% in Hong Kong since Thursday when it said it was "unable to reach or reach Chairman Yang Zhihui."

Landing "does not expect that the [1

945903] absence of Mr. Yang would have a significant negative impact on daily business operations and financial positions," the company said in a file with the Hong Kong Stock Exchange.

The casino and the hotel owner are not the first Hong Kong-listed company to report the sudden disappearance of a top manager.

Huishan Dairy, one of China's leading dairy companies, recorded a 91% decline in a single day in March of last year after losing contact with its treasurer Ge Kun. The company said three months later that it was missing more than $ 350 million.

Several executives of Chinese companies have mysteriously disappeared from Hong Kong and China in recent years.

Landing's share price fell in August after its plans to open a second casino in the Philippines were attacked by the Manila government.

  landing international yang zhihui
Casing company Landing International says it has been "unable to contact its chairman, Yang Zhihui, since Thursday."

Philippine President Rodrigo Duterte criticized a lease between Landing and its local side partner, the Nayong Pilipino Foundation, with its spokesman saying it was "extremely detrimental to the government".

Duterte also decided to dismiss the entire board and management of Nayong Pilipino, the spokesman added.

The presidential statement was made on August 7, just hours after Landing laid the foundation stone for the new resort in Manila, which it planned to open by 2022.

Landing said in a IPO at the time it had undertaken to proceed with the construction of the casino.

"To the best of the Company's knowledge, the lease is legal, valid and enforceable," said Landing in the application.

CNNMoney (New Delhi) First published August 24, 2018: 10:34 am ET


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