SUNTRUST Resort Holdings Inc., a listed firm engaged in tourism-related ventures, has executed a $38-million (about P2.2 billion) loan agreement with its parent company, LET Group Holdings Ltd., to fund the development of a casino at the Entertainment City in Parañaque, Metro Manila.
In a filing on Monday, Suntrust said its board of directors last Friday approved the proposed loan agreement with LET Group as well as the appointment of Chua Ming Huat as the authorized signatory for the transaction.
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