Casino resort investor Landing International Development said it was still unable to reach Yang. The Hong Kong-listed company said in an August filing that it had not been able to contact Yang since August 23.
"We have no update on Yang's whereabouts yet," a spokesperson for Landing International said in an emailed response to GGRAsia on Monday.
In its August filing, the company gave no reason to the claim that Yang's absence would be temporary. Yang owns 50.48% of Landing International's total issued share capital through a wholly owned company, according to the latest records from the Hong Kong Stock Exchange.
Shares of Landing International, which currently operates a casino resort complex on Jeju Island, closed at HK$2.86, down 9.8% from HK$3.17 per share, after resuming trading on Aug. 24. Landing International asked for a stock suspension on the morning of Aug. 23 after losing 35% of its value in the first 90 minutes of daily trading.
The company has lost 52% of its value since August 21 and now has a market cap of about HK$8.39 billion.
Landing International opened a foreigner-only casino at Jeju Shinhwa World Resort in Jeju in February. The company plans to open its own-brand hotel at the Jeju Casino Resort complex under the name Shinhwa Resort within this year. According to the company's previous statement, it also aims to open a theme park called Four Seasons Resort, Spa, and Lionsgate Movie World by 2020.
The Hong Kong-listed company is also working on a casino resort project in Manila, Philippines. However, a spokesman for the Philippine president earlier this month expressed doubts about the project, citing local media that the land lease agreement for the project would be "cancelled." Landing International said at the time it would seek further explanation, but had previously said it would continue to pursue the casino resort project, saying the land lease was valid.
Landing International said it plans to build a $1.5 billion casino resort and theme park called Nayon Landing on the site. It hopes to complete the project in 2022.
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