A top-level board of trustees was named yesterday to a new charitable foundation which will receive hundreds of millions of dollars a year from the pockets of gamblers in Macau's troubled casinos. Macau Governor-General Vasco Rocha Vieira chose casino tycoon Stanley Ho Hung-sun and Chief Executive front-runner Edmund Ho Hau-wah - no relation - to be among those who will oversee the Foundation for Co-operation and Development of Macau. The body replaces the former Lisbon-based Orient Foundation, which has been viewed with suspicion from Beijing amid claims that much of the cash was funnelled to 'interests' outside Macau. Official figures are unknown but estimates reckon the 1.6 per cent of annual gambling revenues pledged to the trust could amount to as much as $500 million a year. The new foundation was formally established in July last year as part of a deal securing Mr Ho's gambling monopoly until 2001. Based in Macau, it pledges to promote academic, cultural, scientific, educational and social endeavours in the enclave.