Landing International Development Limited faced the start of the year with $ 13.4 million in cash reported missing.
The missing money belonged to the group in South Jeju, Korea, and was reported missing on January 4, 2021. Currently, the company is searching for one of its employees who was reported missing along with a significant amount of money.
Management has failed reach the missing employee who is the alleged perpetrator of the crime since he was in charge of the funds.
The case was immediately reported by the company and the South Korean police are currently investigating.
The owner and sole operator of the Jeju Shinhwa World casino complex, Landing, recently reported a loss of HK $ 792.2 million (US $ 102.2 million) during the six-month period ending June 30 of last year with a 25% decrease in consolidated revenues to HK $ 262.1 million (US $ 33.8 million).
Yet another scandal at Landing International Development Limited erupted late last year when company chairman Yang Zhihui resigned from the board of China Dive Company Limited, a company that produces marine diving equipment. The resignation was due to accusations that he manipulated the stock market.
Although there was no sure evidence of his actions, the news was enough to force Yang Zhihui to resign. His relationship with China Dive Company ended on December 14. Immediately afterwards, the China Securities Regulatory Commission launched an investigation.
About the company
Landing International Development Limited is a Hong Kong-based company of numerous leisure and entertainment centers, which has a wide range of facilities, such as casinos, luxury hotels, convention centers, theme parks and attractions, international catering, retail and real estate development.
The company was established in 2001, which means that it already has many years of experience. Its latest facility opened on March 22, 2018 on South Korea’s Jeju Island. Jeju Shinhwa World is the flagship property of the Group.
Jeju Shinhwa World is a huge complex that covers an area of 2.5 million square meters. It has other facilities such as Somerset Jeju Shinhwa World, which is the first full-service condo complex on Jeju Island, as well as Shinhwa theme park, Jeju Shinhwa World Landing Resort and others.
The company and its subsidiary Group are aiming to expand to other Asian regions in addition to South Korea.
Source: “Landing International Searches for Employee After $ 13.4 Million Disappeared in Jeju,” Inside Asian Gaming, January 6, 2021.