Homepage
PR Newswire
26-07-2018, 02:10 PM
Metal trader Tai United’s shares plunge as corruption watchdog investigates alleged bribery
Louise Moon
PUBLISHED : Thursday, 26 July, 2018, 1:47pm
UPDATED : Thursday, 26 July, 2018, 1:47pm
Shares of Tai United Holdings fell as much as 8 per cent when trading resumed on Thursday after a one-day suspension in Hong Kong, following a disclosure that investigations into suspected bribery were under way.
Officers from the Independent Commission Against Corruption (ICAC) had executed a search warrant at the Hong Kong based-investment company which mainly trades in metal-related commodities, the company announced in a statement late on Wednesday.
At 1:10pm on Tuesday the company had unexpectedly stopped trading on the Hong Kong bourse. Offences under the “prevention of bribery ordinance” were suspected, according to the statement by chief executive officer Chen Weisong, but no directors or employees have been arrested.
More details in https://www.scmp.com/business/companies/...n-watchdog
Louise Moon
PUBLISHED : Thursday, 26 July, 2018, 1:47pm
UPDATED : Thursday, 26 July, 2018, 1:47pm
Shares of Tai United Holdings fell as much as 8 per cent when trading resumed on Thursday after a one-day suspension in Hong Kong, following a disclosure that investigations into suspected bribery were under way.
Officers from the Independent Commission Against Corruption (ICAC) had executed a search warrant at the Hong Kong based-investment company which mainly trades in metal-related commodities, the company announced in a statement late on Wednesday.
At 1:10pm on Tuesday the company had unexpectedly stopped trading on the Hong Kong bourse. Offences under the “prevention of bribery ordinance” were suspected, according to the statement by chief executive officer Chen Weisong, but no directors or employees have been arrested.
More details in https://www.scmp.com/business/companies/...n-watchdog
Specuvestor: Asset - Business - Structure.