vladivostok_rienThe Russian city of Vladivostok (above) is the eastern terminus of the famous Trans-Siberian Railway. It is also the venue for a proposed casino project by Summit Ascent.    Photo: rien.comSUMMIT ASCENT eyes Russian casino project

Summit Ascent Holdings Ltd (HK: 102) has signed an agreement to set up a casino outside the far eastern Russian city of Vladivostok on the Pacific coast, targeting an official opening to the gaming complex in the second half of 2014.

Mr. Ho Yau Lung, Chairman of Melco International Development (HK: 200) -- who also serves as a substantial shareholder in Summit Ascent -- is spearheading the deal to tap Russia’s gaming industry.

The casino proposal involves a reverse takeover.

Trading in the shares of Summit Ascent will remain suspended, and further announcements will be made by the Hong Kong-listed firm once there is any progress with respect to the proposed investment.

Summit Ascent (formerly known as Arnhold Holdings Ltd) was founded in 1993 and its shares were listed on Hong Kong’s main board since January 1994. Its principal activity is investment holding, and through its operational subsidiaries Summit is engaged in tiles trading and engineering operations.

css7_8CSS recently 15.32 hkdCHOW SANG SANG gets new chairman

Chow Sang Sang (HK: 116) said Mr. Vincent Chow has been appointed chairman of the jewelry and gold retailer, effective July 1, 2013.

He was formerly the firm's general manager and an executive director.

He replaces Dr. Chow Kwen Lim, who remains as an executive director of the company.

Chow Sang Sang is principally engaged in the manufacture and retail sale of gold and gem-set jewelry products, retail sale of watches, property investment, securities, commodity broking and gold bullion trading.

mingfung7_8Ming Fung recently 0.26 hkdMING FUNG JEWELLERY ED to step down

Ming Fung Jewellery (HK: 860) said that Mr. Chung Yuk Lun will resign as executive director and authorized representative of the company with effect from September 28, 2013.

Mr. Chung stated his wish to focus on his business endeavors as the reason for his stepping down.

Ming Fung is
principally engaged in the design, manufacture and sale of a broad range of gem-set jewelry products.

See also:

CHOW SANG SANG A Beneficiary

Heart Of Gold: MING FUNG JEWELLERY Hosts Olympics Fundraiser


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