Georgetown: Two Hong Kong businessmen, Victor How Chung Chan and Xu Han, were identified as the principals behind the private investment in the controversial Marriott Hotel, for which Republic Bank Limited in Trinidad announced long-awaited approval of US$27M in debt financing.
Atlantic Hotel Inc (AHI) and Republic Bank Ltd (RBL) made the announcement of the investors in a joint statement yesterday, just over eight months after executive Director of the National Industrial and Commercial Investment Limited (NICIL) Winston Brassington had disclosed that a private investor would be contributing US$8M towards the needed equity for the completion of the Marriott Hotel and would become the majority shareholder.
According to AHI, in its announcement yesterday, Victor Chan has diverse and substantial investment interests both in Hong Kong and China.
“He is an Executive Director of the REXLOT Group and is the single largest shareholder and Founder and Director of the REX Resources Group.”
The REXLOT Group is said to be the leading lottery system and distribution company in China and has extensive operations in China’s lottery market, through its local subsidiaries and international joint ventures.
The Group is listed on the main board of the Hong Kong Stock Exchange with a market capitalisation of over HK$8 billion (app US$1.B).
The REX Resources Group is principally engaged in gold, coal, rare earth and other metal, mining exploration and development, both in China and internationally.
Chan is also said to be the leading investor and shareholder of China Gamma Group.
The Group is listed on the main board of Hong Kong Stock Exchange, with a market capitalisation of over HK$600 million (app US$77M).
He also founded REXCAPITAL Partners in 1994, a private investment group with over HK$1billion in financial investments.
Xu Han is reported to be a long-standing business associate of Chan and holds graduate degrees from prominent US and Hong Kong universities.
Additionally, Han has over 30 years of global experience in both the public and private sectors, such as finance, gaming, and mining.
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