San Lotus Holding Inc. Announces Acquisition of the Property (An Office) in Taichung City, Taiwan (R.O.C.)
Taichung City, Taiwan--(Newsfile Corp. - November 17, 2017) - San Lotus Holding Inc. (OTC Pink: SLOT) (the "Company" or "we"), today announced followings:
During the 3rd quarter in 2017, our subsidiary, Green Forest Management Consulting Inc. acquired a 115.17 Area/㎡ office in Taichung City, Taiwan (R.O.C.). The office will be used to prepare an insurance broker business we expected to develop in the future.
We have started to use the office above for preparing an insurance broker business. We plan to develop such business by focusing on the following aspects: (1) creating marketing or distribution channels on internet for the insurance products; (2) improving the level of commission each insurance broker may earn; and (3) simplifying the reimbursement conditions.
We have proprietary experience and knowledge on the development of insurance broker business. We have key personnel to structure the insurance broker business and to design the compititive insurance products. Such key personnel include, but not limited to, our Chairman, Mr. Chen, Kuan-Yu, and our Indepenant Director, Mr. Yeh, Shun-Shan. Their biographies are set forth below:
Mr. Chen, Kuan-Yu, our Chairman, Secretary, and Director, Age 40: From 2010 to 2011, Mr. Chen served as an Associate Director with AON Corporation in Hong Kong. From 2008 to 2009, Mr. Chen was a Senior Consultant with LI Far East Limited, a Hong Kong company. From 2007 to 2008, Mr. Chen was a Manager with Deloitte Actuarial and Insurance Solutions in Hong Kong. From 2000 to 2006, Mr. Chen was an Actuary with MetLife, where he was based in New York for four years and in Taiwan for two years.
Mr. Yeh, Shun-Shan, our Independent Director, Age 53: From 2011 to 2015, in, Mr. Yeh served as the CEO (2012-2015) and Vice President (2011-2012) of Chaoyang Life Insurance Company. From 2006 to 2011, Mr. Yeh served as Executive Vice President and Chairperson of the product development committee (2011); Acting President (2010-2011); Senior Vice President and Product Actuary(2010); Vice Chairman and President (2008-2009); and President and Appointed Actuary (2006-2008) of Hontai Life Insurance Company and Hontai Securities Investment Company. From 2004 to 2006, Mr. Yeh served as the actuary and advisor of K&D Consulting Inc. From 2000 to 2004, Mr. Yeh was the member of Actuarial Institute of Republic of China, Taipei, General Secretary and Risk Management Committee of IAA (International Actuarial Association). From 1993 to 2000, Mr. Yeh served as the Actuarial Department Deputy Manager of China Life Insurance Company. From 1991 to 1993, Mr. Yeh served as the Marketing Analyst of AT&T Taiwan Branch.
Specifically, acquisition of the said office in Taiwan is our first leap on developing the insurance broker business, which will be one of main segments to our all business. Also, we will continue to make efforts, in both time and resources, to develop and acquire the knowledge on the insurance industry as a whole.
About San Lotus Holding Inc.
We are a development stage company that plans to market travel products to the retiring baby boomer generation in the Asian markets and to develop the destination real estate. For more information on San Lotus Holding Inc. please go to the following links:
Safe Harbor Statement
This press release contains certain forward-looking statements that are made pursuant to the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. These forward-looking statements concern San Lotus' operations, economic performance and financial condition and are based largely on San Lotus' beliefs and expectations. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of San Lotus to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Certain of these factors and risks, as well as other risks and uncertainties are stated in San Lotus' Annual Report on Form 10-K for the fiscal year ended December 31, 2016 and in San Lotus' subsequent filings with the U.S. Securities and Exchange Commission. These forward-looking statements are made as of the date of this press release, and San Lotus assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.