Hong Kong tycoon Stanley Ho steps down as Shun Tak Holdings' chairman
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[HONG KONG] Stanley Ho, Macau gambling king and one of Asia's richest men, has stepped down as chairman of Hong Kong conglomerate Shun Tak Holdings Ltd, with his daughter Pansy Ho taking over the position.
The elder Ho, 95, who founded Shun Tak - with business spanning from property to transportation - and served the board for 44 years, will take on the title of chairman emeritus, the company said in a filing to the Hong Kong stock exchange on Friday.
Mr Ho, who heads one of the world's most lucrative gaming businesses through his flagship firm, SJM Holdings, would also cease to be a director or officer at Shun Tak, the company said.
The flamboyant tycoon is one of Hong Kong's best known businessmen. Shielded from challengers by a four-decade monopoly on gambling, Mr Ho helped transform Macau from a sleepy peninsula dotted with seedy, windowless gambling dens into the world's biggest casino centre.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
