Suntrust Resort Holdings Inc – the subsidiary of Hong Kong’s LET Group currently developing a US$1.1 billion hotel and casino in Manila’s Entertainment City – has announced former counsel for the Philippine National Bank Atty. Alvin C. Go as a director.
Go was elected to the Board of Directors during a Special Stockholders’ Meeting on Friday to occupy a seat left vacant during the company’s last AGM. He will serve as a regular director until the Annual Stockholders’ Meeting due to take place later this year.
According to Suntrust, Go is currently Senior Vice President and Head of Corporate Compliance and Legal Services and the Internal Audit Group of BDO Unibank, Inc. He was previously Chief Legal Counsel of the Philippine National Bank from 2003 to 2012, an Associate Attorney at Salonga, Ordonez, Yap, Corpuz, Padlan & Associates Law Offices from 1985 to 1989 and served as Prosecution Attorney from 1989 to 1990 and State Prosecutor at the Department of Justice from 1990 to 1993, among other roles.
Friday’s meeting also saw shareholders approve plans to enter into a loan facility with China Banking Corporation for up to Php25 billion (US$446 million) in order to complete its Manila hotel and casino development. When complete, likely in 2025, the project is slated to incorporate a 450-room hotel with a casino boasting 400 gaming tables and 1,200 slot machines.
The loan facility will essentially see Suntrust mortgage “all or substantially all of the company’s assets and properties,” the company explained Friday.
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