Malaysian investment holding company MQ Technology Bhd has appointed a former Genting Hong Kong executive director to its board, a move benefitting the company’s recent diversification into the hospitality and entertainment industry.
According to the company’s filing to Bursa Malaysia, Wong Ken Hong, 46, has over 15 years of experience in the gaming and hotel industry, having served in Genting Hong Kong since 2000.
“He has vast experiences in finance, operations control, revenue management, audit and new casino set up. Prior to joining Genting Hong Kong in year 2000, he worked in an audit (company) and a manufacturing firm,” said MQ Tech.
Last month, it was reported that MQ Tech had been in discussions with Cambodian Resorts and Entertainment Co Ltd (CRE) to develop a $30 million gaming resort and theme park in Southeast Cambodia.
According to StarBizWeek, the proposed resort would be situated in Banteay Chakrey in Prey Veng Province, in the southeast of Cambodia close to the Vietnam border.
“The project will see the construction of a resort and entertainment complex comprising of a hotel, casino, and a theme park, among others,” said a source quoted by the news outlet.
Under the agreement, CRE will contribute the land for the buildings and facilities, as well as maintain the validity of casino licenses and business operation permit throughout the tenure of the venture. MQTech will finance the setup of a theme park, as well as the building of serviced apartments on the land.
MQ Tech’s move into the leisure and entertainment sector is reportedly aimed at lessening the impact of the tooling and automation business, whose revenues are affected by “significant fluctuations.”