SJM Resorts, S.A. said in a statement on its official website yesterday it was “pleased to announce that the Board of Directors has appointed Ms. Daisy Ho Chiu Fung as the Managing Director of the Company.”
The statement underlined that the appointment has been approved by Chief Executive Ho Iat Seng.
“With this appointment, Ms. Daisy Ho is granted expanded management rights and authorities. She becomes the official representative of SJM and is responsible for all formal business dealings and contacts with the Macau SAR Government, as well as with the subsidiaries of the Company and other entities,” the statement said.
The statement added that “Ms. Ho is also responsible for overseeing the day-to-day operations of the Company and corporate matters including the formulation of policies, objectives, and investment plans to ensure that the Company and its activities are in full compliance with the relevant legal and regulatory obligations.
The statement noted that Ho was elected to the Board of Directors of SJM in March 2019. She is also an Executive Director of SJM Holdings Limited, the holding company of SJM, and was appointed as chairman in 2018.
Public broadcaster Rádio Macau pointed out that based on Macau’s amended gaming law, as managing director Ho must hold a share of at least 15 percent of the company’s minimum capital of five billion patacas. Previously, gaming concessionaires’ managing director’s minimum share in the capital stood at 10 percent.
Rádio Macau underlined that Ho has replaced Angela Leong On Kei as managing director, a post the latter had held since 2011. While Ho is a daughter of late gaming mogul Stanley Ho Hung Sun, Leong is his widow.
SJM is one of seven bidders for the government’s up to six gaming concessions, which are slated to be granted by the government by the end of the year for up to 10 years.
SJM Resorts Managing Director Daisy Ho Chiu Fung talks to reporters yesterday after the kick-off ceremony of “Celebration of Art & Culture – Artistic Lantern Festival” at Grand Lisboa Palace Resort Macau’s Secret Garden in Cotai.
– Photo courtesy of TDM
