Wai Kee says chairman, vice-chairman, four others arrested by ICAC

HONG KONG (AFX-ASIA) - Wai Kee Holdings Ltd said that six serving and former members of its management and staff, including its chairman and vice-chairman, have been arrested by the Independent Committee Against Corruption (ICAC). The other four arrested were a former executive director and a serving executive director of the company, and two members of staff of the Wai Kee group of companies, it said in a statement. Wai Kee said that according to the ICAC, the six were arrested on suspicion of obtaining the assistance of staff of an architects' firm to certify inflated interim payments in relation to a government private sector participation scheme project. The six have been released on bail. The company said it is unaware of any evidence to support the ICAC's suspicions, and does not expect the arrests to have any immediate impact on the day-to-day operations of the company or its units. It said it is cooperating fully with the ICAC in its investigation and will make further announcements as and when appropriate.

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