22 Aug 2018

Imperial Pacific reassures stakeholders as chairperson resigns

5:07 pm on 22 August 2018

The chairperson of Imperial Pacific, which is behind a troubled casino resort being built on the Northern Mariana island of Saipan, has resigned, as the company moves to reassure its shareholders and employees.

Imperial Pacific Resort

Imperial Pacific Resort Photo: RNZI/Mark Rabago

There are more than 1500 workers at the construction site of the new gaming facility which has had its completion date delayed from this month until December.

On Monday, Imperial Pacific said Cai Lingli was stepping down from the role and as an executive director.

The move comes only days after the Hong Kong-based developer released a statement saying it was experiencing issues funding its payroll.

On Friday, it said more than 2000 hourly employees were paid on time but salaried employees would be paid within the week.

It is unclear how many workers in Saipan will be affected.

In the statement, Imperial Pacific asked the community for support, patience and understanding.

In an update to the Hong Kong Stock Exchange on Monday, the company said Miss Cai's resignation was due to personal and family commitments.

"There was no matter in relation to her resignation that needs to be brought to the attention of the shareholders of the Company or the Stock Exchange," it said.

Imperial Pacific's shares last traded at 7 Hong Kong cents.

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