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Landing International Development Limited is investigating the disappearance of the 13.4 million of dollars

22.01.2021 14:13

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Landing International Development Limited is investigating the disappearance of the 14.56 millions of won ( that is $13.4 million ), which were kept in Jeju, South Korea.

The Company realised that the funds were lost on Monday, however the worker in charge of the money has not been found yet. Company’s speaker has claimed that currently the administration of the group cannot contact that worker who is responsible for the money.

According to the message posted on the Stock Exchange of Hong Kong, the company immediately reported the incident to the police of South Korea. Now they are investigating this case.
It added that the administration of the company is now gathering the information related to this incident and investigating the problem.

Landing International Development owns and manages a foreigners-only casino resort Jeju Shinhwa World which is located on Jeju Island. Recently the company reported a net loss in the amount of 792.2 millions of Hong Kong dollars ( 102.2 millions of dollars ) for the first six months in 2020 which is 5% lower in comparison with the analogue period of time last year. Aggregate revenue of this period decreased by 25% to HK$262.1 millions.

Before the outbreak of COVID-19, the company planned to expand Jeju Shinhwa World. As reported, new departments will include the Four Seasons resort and the thematic park Lionsgate Movie World.
However that expansion plan was postponed since now the company is doing its best to save healthy market liquidity to be able to manage the influence of the pandemic on the business.