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From the Wires
ACDL Expands Management Team, Bolsters Presence in Vietnam
Hubert Wang, Jef Forrer and J.D. Benedict join ACDL executive management team
By: Marketwire .
Oct. 22, 2008 10:05 AM
HO CHI MINH CITY, VIETNAM -- (Marketwire) -- 10/22/08 -- Asian Coast Development Ltd. (ACDL), the luxury resort developer behind The Ho Tram Strip, $4.2 billion, 9,000-room hotel resort and entertainment destination in Vietnam's Vung Tau Province, has appointed three prominent executives to its team, providing increased expertise in the integrated resort industry. Jef Forrer has been appointed Executive Vice President of Project Development; Hubert Wang as Chief Financial Officer; and J.D. Benedict as Vice President of Corporate Development. Mr. Forrer, is a former Group Development Executive for Peermont Global Ltd., where he has led a number of international development projects, including refurbishment and upgrading of existing facilities from design to commissioning. He is best known for his work on two mega integrated resort projects, Sun City in South Africa and Atlantis in the Bahamas. Mr. Wang, is former Vice President for Planning and Analysis with the Las Vegas Sands Corporation, a hotel, gaming, resort and exhibition/convention company headquartered in Las Vegas, Nevada. Mr. Benedict, is a founding member of the Paradigm Executive Council, a consulting firm providing financial and program management consulting services to government and private industry clients. "These three appointments come at a very important time for our company and our endeavours in Vietnam," said David Subotic, CEO, ACDL. "Their experience and profile will allow us to continue to make The Ho Tram Strip - this country's largest tourism venture - a tremendous success." The recent additions will allow Mr. Subotic to focus on Vietnam where he will assume dual responsibilities of Chief Executive Officer of ACDL and Managing Director of the Ho Tram Project Company, ACDL's wholly owned Vietnamese subsidiary. The Ho Tram Strip, one of the largest tourism projects in Asia, is a multi-phase resort development planned for Ba Ria-Vung Tau Province in southern Vietnam. It will feature five integrated Las Vegas-style resorts and a variety of exclusive recreational activities. The 169-hectare Ho Tram Strip is the largest approved project of its kind in Vietnam and the first to be granted an investment certificate permitting Las Vegas-style gaming. Asian Coast Development Canada Ltd. (ACDL) is an international development and real estate holding company specializing in integrated resort destinations. ACDL is the lead developer of the Ho Tram Strip, a group of integrated resorts to be located on more than two kilometers of white-sand beach in southern Vietnam. With a focus on providing a personalized blend of relaxation and excitement, the Ho Tram Strip will feature something for everyone, from lavish Vegas-style gaming rooms and theatres to acres of premium shopping and exceptional recreational facilities. Phase I of the development, including Vietnam's first Las Vegas-style casino, an 1100-room five star hotel, a 1,200-room five star hotel and a championship golf course designed by Greg Norman, is scheduled to open in 2011. Contacts:
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