Hong Kong's Analogue says investigated by Competition Commission

Analogue Holdings

06/12/2019 01:41

HONG KONG, Dec 6 (Reuters) - Engineering company Analogue
Holdings Ltd  1977.HK  said one of its subsidiaries is being
investigated by Hong Kong's Competition Commission for suspected
contravening of rules related to a tender and separate
contracts.
    Analogue, controlled by Otto Poon, the husband of Hong Kong
justice secretary Teresa Cheng, was listed on the main board in
July.
    Officers of the Competition Commission visited ATAL Building
Services Engineering Ltd on Wednesday with two search warrants,
the company said in a filing late on Thursday. 
    Analogue shares opened down 8.7% on Friday after having been
suspended on Thursday. 
    The board does not have sufficient information to assess the
potential impact of the investigation on the group's operations
and financials, the company said, adding it was seeking legal
advice.

 (Reporting by Clare Jim; Editing by Sriraj Kalluvila)
 ((clare.jim@thomsonreuters.com; +852 2912 6653; Reuters
Messaging: clare.jim.thomsonreuters.com@reuters.net))