Andrew Lo Kai Bong, executive director of LET Group Holdings Limited (a company formerly known as Suncity Group), has been appointed chairman of the company.
The new appointment will take effect on August 31 without a specified term, and Mr. Lo will receive a HK$7.05 million (US$898,010) will be paid. .
As a major shareholder of the Group and its subsidiary Summit Ascent, Mr. Lo is involved in the business development of the Group’s overseas operations and is also responsible for the Group’s corporate management, mergers and acquisitions, the statement said. ing.
As of August 31, Law holds 6,873,567,180 shares in the Group through companies under his control. This represents approximately 103.08% of the Group’s total outstanding shares, and Summit also holds his 69.77% stake in Ascent.
LET Group Holdings Limited posted a net loss of HK$252.9 million (US$32.23 million) in the first half of the year, recovering a net profit of HK$384.3 million in the same period last year.
The Group’s total income from continuing operations increased 32% to approximately HK$190.4 million from HK$144.6 million in the same period last year.
