Investment banker Kandiah joins Suncity's Philippines casino entity Suntrust as CFO – IAG – Inside Asian Gaming
An artist’s impression of the façade of the Westside City project.
Suntrust Home Developers, the Philippines firm controlled by Hong Kong-listed Suncity Group that is developing a US$1 billion hotel and casino in Manila’s Entertainment City precinct, has announced the appointment of veteran investment banker Sutha Kandiah as its new Chief Financial Officer.
Kandiah’s appointment was announced following completion of Suntrust’s annual meeting this week, which also saw the company granted shareholder approval to change its name to Suntrust Resort Holdings, Inc.
According to information filed with the Philippine Stock Exchange, Kandiah is a seasoned finance executive with experience heading large institutional operations at UBS, as head of its Asian and Japanese capital markets businesses and head of Southeast Asian investment banking, and with building and operating start-up financial services businesses.
He has spent 25 years working in Singapore, Hong Kong and Japan, and established the capital markets and investment banking business of Religare Capital Markets. When Religare was acquired by state-owned Chinese securities firm Soochow Securities, Kandiah served as Soochow’s CEO of Asset Management and Vice Chairman of Capital Markets.
He presently serves as Senior Advisor to a private equity firm and a venture capital firm that are focused on Southeast Asia and serves as advisor to the Board of Directors at Digipay, a digital payments and financial services application based in the Philippines, Suntrust said.
Kandiah joins Chairman Andrew Lo and President David Chua on the Suntrust leadership team after they were appointed to the Board of Directors in May.
Suncity’s Manila IR project, part of the Westside City Resorts World development in the Entertainment City precinct, is due to open in 2023, incorporating a casino with 400 gaming tables and 1,200 slot machines with a 450-room hotel and multiple other attractions.
The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.
Inside Asian Gaming catches up with leading land-based slot machine suppliers Scientific Games and IGT, as well as a leader…
New data privacy laws coming into effect across Asia, including in mainland China, in the coming months will require careful…
Inside Asian Gaming recently announced local project delivery and construction services firm Bobadilla Group Macau (BGM) as Title Sponsor of…
In a case of what could have been, Melco Resorts & Entertainment guides Inside Asian Gaming through the finer details…
The Royal Commission into whether Crown Melbourne is suitable to retain its casino license delivered its findings this week, finding Crown unsuitable in its current form but given two years to prove otherwise under the supervision of a government-appointed Special…
Southeast Asian casino operator Donaco International Ltd says it burned through US$380,408 per month due the impact of COVID-19 in the three months to 30 September 2021, although the cash burn was “well within the targeted range.” According to a…
Wakayama has announced it will host public briefings for residents to outline its planned IR bid, with sessions set to be held in 14 locations between 25 November and 5 December 2021. A representative of the prefecture explained, “We are…
Philippines real estate firm Belle Corp has reported a 21% year-on-year decline in revenue to Php2.91 billion (US$57.6 million) for the nine months to 30 September 2021, including revenue of just Php370 million (US$7.3 million) in the September quarter. However,…
© 2005-2021
Inside Asian Gaming.
All rights reserved.
© 2005-2021
Inside Asian Gaming.
All rights reserved.
