CY Foundation Brand Change Completed

Hong Kong-listed CY Foundation Group Ltd, a service investor in the Macau gaming industry, announced that it has completed the rebranding and officially changed the company name to Success Dragon International Holdings Ltd.

The short-term stock name of the Hong Kong Stock Exchange for stock trading will be changed to Success Dragon from Dec. 16, the company said in a file on Thursday.

Success Dragon said that even after the company’s name is changed, existing certificates of securities with the company’s old name will all be “evidence of the company’s ownership of that securities and will continue to be valid for transactions, payments, registrations and delivery of the same number.”

The company said in its previous file that the new company name “can promote and strengthen the company’s corporate image and enable the group to better identify and gain business opportunities for future development.”

Success Dragon is the parent company of Macau-based casino service provider CY Management Ltd. The latter company currently offers management services to three casinos in Macau and information technology services to two other casinos downtown. The parent company also provides services to casino operators in Vietnam.

Success Dragon is also involved in the manufacture of high-end packaging products. 바다이야기

In November, the parent company reported a loss of HK$140.3 million ($18.1 million) for the six months to Sept. 30. The group’s losses widened further from HK$11.9 million recorded a year ago.