HONG KONG SAR –
Media OutReach – 23 February 2021
– Suncity Group Holdings Limited (“Suncity“, Hong Kong Stock Exchange
code: 1383) and Summit Ascent Holdings Limited (“Summit Ascent“,
Hong Kong Stock Exchange code: 102), are pleased to announce that staff in Tigre
de Cristal has started to receive Russia’s self-developed Sputnik V COVID-19 vaccination.
This is a move by the Government to safeguard the health and safety of the
Russian citizens, our staff and our guests, as well as a move to prepare the country
to go back to normal soon.
As a number of countries in the world are rolling out mass COVID-19
vaccination programmes, the
normalisation of the economy and the re-opening of international borders
are just around the corner.
The Russian Federation has begun vaccinations in Moscow early in
December 2020, among the first countries to launch its vaccination programme in
the world, and has already approved mass use in other cities including
Vladivostok, where Tigre de Cristal is located.
Tigre de Cristal has taken the highest precautionary measures
recommended by the Russia authorities to the highest standards, such as turning
off every other slot machine and capping the seating capacity in restaurants. Compliance
to these rules has reduced the ability of Tigre de Cristal to generate revenue.
A silver lining is that Tigre de Cristal is an integrated resort not
only visited by international travellers, but also an integrated resort well-attended
by locals. Since the reopening of Tigre de Cristal after the temporary closure
in 2020, Tigre de Cristal has recorded a decent recovery in the mass table and
slot businesses in the second half of 2020. The
injection of the vaccine to our staff offers a glimpse of hope that business
could soon return to normal. Currently, Tigre de Cristal’s Phase I upgrade on
hardware such as the newly decorated Suncity VIP room, the brand-new authentic
hot pot restaurant and the gentlemen’s club are now ready to welcome international travellers
when the borders reopen.
Phase II of
Tigre de Cristal is well under way, and will triple the existing number of
hotel rooms, as well as doubling in the number in its current gaming
facilities. Phase II will also feature additional leisure and entertainment
facilities such as the finest restaurants serving authentic Asian delicacies,
ranging from Korean barbecue to international flavours serving fresh seafood;
as well as a state-of-the-art indoor beach club. With the COVID-19
vaccination programme now being available to the general public, we are
certain that both the Phase I upgrade and Phase II will soon be generating
accretive business volumes to the Group in the direct VIP, junket VIP, premium
mass, mass and slots businesses as international travel gradually resumes.
Mr. Chau Cheok
Wa, Chairman of Suncity, also Chairman of Summit Ascent, said, “The vaccine is
a breakthrough in humanity because this is an indication that humans can win
the pandemic. I cannot be more grateful to the Russian Government, the research
and medical staff in Russia for their tireless work in developing the vaccine
and their determination to go back to the normal lives where people are allowed
to travel freely. Their decisive and ambitious actions to prioritise
vaccinating Russian citizens, including our employees working in Tigre de
Cristal, is a tell-tale sign to us that Asia is on its way back to normality.
When our customers from across Asia are allowed to travel again, I am certain
that this will mark a new era for outstanding business performance in Summit
Ascent, especially Suncity will fully back Summit Ascent as it is now a
subsidiary of Suncity.”
About Suncity Group Holdings Limited (HKEx stock code: 1383)
Suncity Group Holdings Limited (“Suncity“)
is en-route to become a leading integrated resort operator in Asia. Originated
from Macau, Suncity develops, operates and manages integrated resorts across
Asia, including Vietnam, the Philippines, Russia, and Japan.
Suncity holds approximately 69.66% of Summit
Ascent Holdings Limited (HKEx: 102), the operator of the largest integrated
resort Tigre de Cristal in Vladivostok, Russia. Through Summit Ascent, Suncity participates in the development of
future phases of Tigre de Cristal. Summit Ascent holds 77.5% in Tigre de
Cristal, currently the largest integrated resort located in the Primorye
Integrated Entertainment Zone of the Russian Far East. Situated midway from the
Vladivostok International Airport to Vladivostok city, the administrative
centre of the Russian Far East, Tigre de Cristal is ideally located
geographically in the heart of Northeast Asia.
Hoiana is the first flagship integrated
resort that Suncity jointly develops with our investment partners. Located in
Central Vietnam, Hoiana is only 35 minutes away from the Danang International
Airport and is located near to top tourist attractions in Danang and Hoi An.
Hoiana is a world-class integrated resort with branded hotels, state-of-the-art
gaming floors, multiple F&B restaurants, award-winning golf course and long
Suncity is also the controlling shareholder of Suntrust Home Developers, Inc.
(PSE: SUN), who is developing the Westside City Integrated Resort in the heart
of Entertainment City in Manila, the Philippines. Suncity also offers
consultancy services to large scale integrated resorts in Asia. In addition,
Suncity operates in the travel related product and services segment and the
Adhering to the spirit of “Innovating With
Diversity, Striving For Success”, Suncity spared no effort to develop entertainment
and integrated resort products. Originated from Macau, Suncity actively
explores integrated resort opportunities around the world.
For more information about Suncity, please visit http://www.suncitygroup.com.hk/?lang=en
About Summit Ascent Holdings Limited (HKEx stock code: 102)
Summit Ascent Holdings Limited (“Summit Ascent“) holds 77.5% in Tigre de Cristal, currently
the largest integrated resort located in the Primorye Integrated Entertainment
Zone of the Russian Far East. Situated midway from the Vladivostok
International Airport to Vladivostok city, the administrative centre of the
Russian Far East, Tigre de Cristal is ideally located geographically in the
heart of Northeast Asia.
Summit Ascent holds a gaming license granted by the Russian government
for an indefinite period, and Tigre de Cristal has opened for business since
late 2015, offering a broad range of gaming options on a 24/7 basis. Tigre de
Cristal has been certified as a five-star hotel with retail offerings, food and
beverage outlets, private club, and named “Russia’s Leading Resort” by World
For more information about Summit Ascent, please visit https://www.saholdings.com.hk/eng/
Stakeholder mapping, analysis, engagement and communication needs to be detailed to avoid business losses or even worse, a crisis. How can you do this effectively to prevent failure? ...
Data-driven business decisions have never been as crucial, especially in this era. MGBF leverages off, technology, experience and market presence to aid businesses in making accurate decisions. ...
MGBF provides comprehensive strategic advice and results-focused solutions to solve clients' problems in business-government relations so they can focus on their core business. ...
A critical business challenge is meeting the right decision-makers and potential buyers through the best channel and platform. How will you improve your business competency? ...
Expanding on the global digital arms race that governments and corporations are engaged in, this full-day forum will see industry leaders speak, and four interactive panel sessions. Event date: 21 March 2023. Contact us to book your seats now!
The threat matrix has evolved to include information warfare, cyberspace incursions, big data and behavioural communications. Business leaders need to be aware of these threats to survive. What are you doing as a key stakeholder?
Corporations and their leadership often face weaponised information attacks in the media. Understanding these advanced business threats is crucial. Recently completed. View proceedings online.
Special session: Cyberwarfare Waged on the Corporate Sector - Lessons from the Russia-Ukraine Crisis. Corporations are in a digital arms race that many don't realise. How does this relate to your organisation?
MGBF In The News
The Malaysia Global Business Forum (MGBF) will be hosting a roundtable on ‘Designing the Future of the Digital Economy’ on 23 February 2023. It is the culmination of the first three MGBF Exclusive Roundtable Series titled ‘The Evolving Threat Matrix in the Digital Economy’ held throughout 2022. According to the […]
The Founding Chairman of the Malaysia Global Business Forum (MGBF), Nordin Abdullah, today spoke on Bernama TV’s leading English talk show, The Brief, hosted by Jessy Chahal, on the topic of a stable political reality and what that means for the Malaysian economy. Nordin said, “The first thing that it […]
More than 1,100 years ago, Muhammad ibn Musa al-Khwarizmi was developing the mathematical formulas that we know today as algorithms which now have become so intertwined with the business fortunes of global media giants and the very fabric of geopolitics. A series of recent high level international reports have revealed […]
KSK Land has been recognised by the Malaysia Global Business Forum (MGBF) for its role in attracting high net-worth individuals to Malaysia post-pandemic. The first challenge in investor attraction is “selling” the country. In the context of Asia, Malaysia is competing with some very established investment destinations. The second […]
Malaysia, in particular Kuala Lumpur, continues to position itself as a regional centre to do business, educate a family and enjoy a global lifestyle. One company, KSK Land, has taken the lead in positioning itself and the city of Kuala Lumpur as a property investment destination for the global citizen […]
The upcoming budget represents an opportunity to build resilience in the critical sectors that will form the backbone of the country’s future-facing economic ambitions. This however needs to be achieved in the context of managing the community sectors most impacted by COVID-19 over the past two years. The Keluarga Malaysia (Malaysian Family) […]
Malaysia Global Business Forum (MGBF) has moved to support the creative economy as the overall economy moves into a recovery phase following the COVID19 pandemic. As a step in the direction of normalcy, the MGBF has agreed to host the art exhibition “I Know You’re Somewhere So Far” by one […]
Congratulations to Datuk Seri Ismail Sabri Yaakob for taking up the mantle of the ninth prime minister of Malaysia. There is nothing normal about the situation; it could not have been scripted but it has kept the spectrum of media, mainstream and social, gripped. The first order of business for […]
In a stirring speech to the nation, President Joseph R. Biden, Jr. stamped his brand of leadership on the presidency, in his first act as the 46th president of the United State of America, it signaled several shifts. Perhaps the weather was foreboding with snow falling before the ceremony that […]
KUALA LUMPUR, 6 July 2022 – As the global economy continues to deal with unprecedented levels of disruption caused by the pandemic and the conflict between Russia and Ukraine, the convergence of energy security and food security issues has become a front-of-mind issue faced by policy makers and consumers alike. […]
KUALA LUMPUR, 23 June 2022 — Malaysia Global Business Forum (MGBF) ties up with scoutAsia to ensure that businesses are equipped with deeper regional insights. The past two years has seen a massive shift in the way businesses are conducted with digitisation, digitalisation and automation continuously being adopted to improve […]
KUALA LUMPUR, 25 May 2022 – The Malaysia Global Business Forum (MGBF)’s exclusive roundtable on ‘Security Concerns in Critical Value Chains’ was held in a hybrid setting yesterday at the Eastin Hotel Kuala Lumpur. The guest of honour was Yang Berbahagia Tan Sri Dato’ Seri Rafidah Aziz, former minister of […]
We live in the age of crisis. At the heart of any crisis is the threat of rapid change. Change too deep or too wide that the current coping mechanisms for an individual, corporation or government are unable to remain resilient. An unwelcome paradigm shift, like the proverbial spider, that […]
The Malaysia Global Business Forum (MGBF) has released a report following the roundtable on ‘Digital Resilience in the Corporate Sector’, which was recently held in Kuala Lumpur. In attendance as guest of honour was Deputy Minister of Communications and Multimedia, Datuk Zahidi Zainul Abidin. The report recommended several critical development […]
Trade and investment delegations will trickle back over the next few months, but the second half of the year should see considerable return of business travellers. It was learnt that over 50 per cent of international business chambers and industry associations surveyed will consider sending exploratory teams to Malaysia during […]
KUALA LUMPUR, 30 March 2022 – The Malaysia Global Business Forum (MGBF)’s exclusive roundtable on ‘Digital Resilience in the Corporate Sector’ was held in a hybrid setting yesterday at the Element by Westin Kuala Lumpur. The discussion focused on what business leaders need to understand, to ensure business resilience and […]
The Malaysia Global Business Forum (MGBF)’s exclusive roundtable on ‘Addressing Weaponised Information in the Media’ was held in a hybrid setting today at the Hilton Kuala Lumpur. The discussion focused on addressing one of the most relevant threats to businesses in the digital economy – cyber threats causing physical and […]
The current floods that have impacted various parts of the country have given rise to an extensive commentary on the response cycles of various stakeholders. It has in turn led to continued crisis communications and statements in the media by agencies and ministries alike. This binary approach to the discussion […]
The formation of a special Cabinet committee to develop strategic measures to safeguard the economy amid the Covid-19 outbreak shows the Malaysian government is serious about creating a balance between the continued safety of the general population and the survival of the economy. In the global context, as many countries […]