Brief: Chong Kin Group Says Ex-Legal Representative Of Unit Subject To Criminal Compulsory Measures

Chong Kin group

29/01/2021 01:20

Jan 29 (Reuters) - Chong Kin Group Holdings Ltd  1609.HK :
    * NOTIFIED BY HANGZHOU MUNICIPAL PUBLIC SECURITY BUREAU THAT
EX
LEGAL REPRESENTATIVE OF UNIT SUBJECT TO CRIMINAL COMPULSORY
MEASURES
    * EMBEZZLEMENT IN RELATION TO CERTAIN PAYMENTS OF ABOUT
RMB30
MILLION AT UNIT IS SUSPECTED
    * EX LEGAL REPRESENTATIVE OF UNIT SUBJECT TO CRIMINAL
MEASURES FOR
PROBE ON SUSPECTED PROFESSIONAL EMBEZZLEMENT BETWEEN JUNE
2018-2020
    * BUREAU IS STILL CARRYING OUT INVESTIGATION, NO FORMAL
CHARGE HAS
BEEN LAID YET
    * EXPECTS INVESTIGATION DOES NOT HAVE ANY MATERIAL ADVERSE
EFFECT
ON OPERATIONS OF CO
    * IN CONNECTION WITH PROBE, TWO OTHER EX EMPLOYEES OF UNIT
ALSO
UNDER CRIMINAL COERCIVE MEASURES BY HANGZHOU SECURITY BUREAU

Source text for Eikon:  ID:nHKS4GFl8l 
Further company coverage:  1609.HK 

 ((Reuters.Briefs@thomsonreuters.com))