IEC appoints Chan Chun Lam as Chief Financial Officer

Through a press release, International Entertainment Corp (IEC) has confirmed Chan Chun Lam has been appointed as Chief Financial Officer from 11 January 2022.

The Philippines.- International Entertainment Corp. has announced Lee Chi Wai has tendered his resignation as the chief financial officer of the company due to his career development.

In the statement, the company said Lee has confirmed that he has no disagreement with the board and “there is no matter which needs to be brought to the attention of the shareholders of the company in respect of his resignation”.

IEC also confirmed Chan Chun Lam as the new Chief Financial Officer of the company.

Lam, who joined IEC in August 2021, holds a bachelor degree in Business Administration in Accounting and is a registered Certified Public Accountant (Practising) and a fellow member of the Hong Kong Institute of Certified Public Accountants.

According to the press release, previous to his role in IEC, he worked for an international accounting firm and several listed companies in Hong Kong.

IEC chairman reduces stake to 18.75 per cent

IEC’s chairman Choi Chiu Fai Stanley has reduced his stake in the company from 27.4 per cent to 18.75 per cent. 

The chairman sold off about 8.66 per cent of the company’s share capital for about HK$40m ($5.2m). 

The sale comes after the company said Choi’s Brighten Path company would sell shares worth about 20 per cent of the total.

The company has sold 27.5 million shares to an unidentified third party with no links with the operator and 91 million shares on the open market. The first lot went for $0.30 per share and the second at $0.35 on average.