To The Stanley Ho Family Is Brought By $ 255 Million

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January 14, 2022
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The parent company sjm holdings has been made for 2 billion hong kong dollars ($ 255 million) in the form of unpaid dividends from the founder of stanley ho and the son of winnie ho, who died in june last year at the age of 95.

To the Stanley Ho Family Is Brought by $ 255 Million

Nolegante stanley ho sued a family for $ 255 million in the form of unpaid dividends. Hong kong edition headline daily reported that in the statement of hotung in the supreme court of hong kong, the payment of unpaid incomes of his late mother was requested by 7.3% in sjm, which she held back in 2008, when the company acquired fame.

Hotung called among the respondents of his uncle stanley and aunt natut ho yuen-hung. He argued that dividends were to be obtained from 6263 shares of sociedade de turismo e diversões de macau (stdm), which owns sjm. Winnie in them invested in 1962. Hotung is the only performer of the will of his mother.

Dividends on stdm shares, as reported, were paid from 1962 to 2006. From 2000 to 2006, annual payments were from hkd24.18 million ($ 3.08 million) to hkd77.22 million ($ 9.85 million). However, hotung argues that there was actually no payments. He demanded to list the remaining dividends with interest.

Stdm was founded in the 1960s. Since then, up to 2000, the company held a monopoly in the macau igor industry. Since 2002, the government of the special administrative district issued a license for competing casino operators.

Recall: in march 2018, sjm holdings ltd in macau increased wages to its employees.

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