Hong Kong: Hong Kong-listed Wison Engineering Services announced that Hua Bangsong, the chairman of the company, has been fomally arrested by Chinese authorities over alleged bribery activity.
Wison said the board will continue to assess the impact of the matter on the group’s business operation and will take proactive measures to minimize or reduce the impact on the group’s financial performance.
Hua Bangsong was allegedly involved in the PetroChina scandal, a giant bribery scandal that broke last year and has seen many names smeared. The former director of PetroChina, Jiang Jiemin, was arrested for corruption last year. [10/03/14]