Asia bulletin Macau Legend to go under review following CEO s arrest

Macau Legend Development has appointed an audit firm to review the business, following the arrest of its former CEO Levo Chan

Macau Legend Development has prescribed an audit firm to review article the business, next the stoppage of its former CEO Levo Chan.

The intelligence follows a write up in February, inwards which Macau Legend announced a special commission would follow readiness up to critical review the company.

The organisation claims to feature initiated this critical review to defend “good corporate governance” and ensure Chan’s alleged criminality had non seeped into the business.

Chan was arrested in late January for organising illegal gambling, money laundering and for having links to felon gangs. He was the lead of the Tak Chun junket and was arrested alongside the high-profile CEO of Suncity, Alvin Chau.

Macau Legend has now decreed an external, international method of accounting unwavering as an main(a) consultant for the look back process. Macau Legend has introduced this outside dead body to maintain lucidness inwards its go over process; citing its belief that the make a motion is both “prudent and appropriate.”

However, the extent of the extraneous scrutinise firm's involvement inwards the keep company reexamine remains unclear.

Macau Legend’s statement inside information the survey as “specific” and “limited” to “identifying and assessing the impact” the incident of Chan’s check had on the company.

It is expected the look back into Macau Legend’s operations will live completed in or around mid-April 2022, barring any unforeseen circumstances.

Macau Legend cites go restrictions and quarantine measures caused by Covid-19 as the sole hindering factor in to the rate at which the retrospect put up make place.

Furthermore, the reexamine is topic to the Independent Consultant’s schedule, according to Macau Legend. It is not known whether this testament get a important impact on the tone ending of the review.

Macau Legend operates the Fisherman’s Wharf complex, which warned of a potential temporary removal of trading inward Hong Kong finally week, due to a delay in the publication of its financial results for 2021.

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