Suntrust Home Developers, the Hong Kong-listed, Suncity Group-controlled Philippine company that is developing a US $ 1 billion hotel and casino in Manila’s Entertainment City district, has announced the appointment of veteran investment banker Sutha Kandiah as CFO.
Kandiah’s appointment was announced following Suntrust’s annual meeting this week, at which the company also granted shareholder approval to change its name to Suntrust Resort Holdings, Inc.
According to information on file with the Philippine Stock Exchange, Kandiah is a seasoned financial executive with experience leading large institutional operations at UBS, as head of its Asian and Japanese capital markets activities and head of the bank. investment in Southeast Asia, and with the construction and start-up of operations. financial services companies.
He spent 25 years working in Singapore, Hong Kong and Japan, and created the capital market and investment banking businesses of Religare Capital Markets. When Religare was acquired by Chinese state-owned securities firm Soochow Securities, Kandiah served as Soochow’s CEO of asset management and vice president of capital markets.
He is currently a senior advisor to a private equity and venture capital firm that focuses on Southeast Asia and is an advisor to the board of directors of Digipay, a digital payments app and financial services firm based in the Philippines, Suntrust said.
Kandiah joins Chairman Andrew Lo and Chairman David Chua on Suntrust’s leadership team following their appointment to the board in May.
Suncity’s Manila IR project, part of the Westside City Resorts World development in the Entertainment City district, is slated to open in 2023, incorporating a casino with 400 gaming tables and 1,200 slot machines with a 450-room hotel. and many other attractions.