The shares of the Asian casino operator Landing International Development soared more than 40 per cent in Hong Kong on Tuesday (Nov 27) after it said its tycoon head, who suddenly went missing in August, had "resumed his duties".
At the time of his disappearance, mainland news site Caixin reported that Mr Yang Zhihui (pictured) was being investigated by Chinese authorities over his ties with the head of state-controlled Huarong Asset Management and had been detained in Cambodia.
However, he has already returned to his roles as chairman and executive director. And Landing's shares jumped as much as 45 per cent on Tuesday morning before easing slightly to sit up 35.2 per cent at HK$3.69 (S$0.65).
Mr Yang's disappearance was a further setback for the firm soon after a project in Manila had been stopped.
"Mr Yang explained that he has been assisting the relevant department of the People's Republic of China with its investigation during the period of his absence," the statement from Landing on Monday said.
