Wison鈥檚 head held for alleged bribery
Print Edition
The chairman of Wison Engineering Services Co, Hua Bangsong, has been arrested by Chinese police over alleged bribery, the Shanghai-based company said.
Wison’s board learned from a family member of Hua on Thursday that he has been arrested by the public security authorities over “alleged bribery activity,” the Hong Kong-listed company said in an exchange filing, adding that it has not been told any details of the allegation.
Wison denied media reports the company had been involved in offering “unlawful advantages” on a procurement contract with PetroChina Co for a petrochemical project in Sichuan Province.
Wison once counted PetroChina as its biggest client, providing consulting, engineering and construction services to the top Chinese oil and gas producer. Several former top PetroChina officials, including ex-Chairman Jiang Jiemin, have been under investigations since last year by authorities for “severe disciplinary violations” — a phrase usually referring to corruption.
In September, Wison said Hua, one of China’s richest self-made entrepreneurs, was assisting authorities with an unspecified investigation.
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