10 arrested in Hong Kong in bribery case centred on CK Asset development
A CK Asset residential project in Hong Kong has been caught up in a bribery scandal after the city's graft-buster uncovered subcontractors allegedly offering incentives to site supervisors in exchange for lax oversight of subpar steel reinforcement work.
The Independent Commission Against Corruption (ICAC) said on Wednesday that of 10 suspects, aged 29 to 52, arrested in connection with the case, one was an employee of the main contractor, five worked for several subcontractors and four were site supervisors at an engineering consultancy.
At the centre of the controversy is CK Asset's Anderson Road project in Kwun Tong, which consists of six residential towers providing 2,926 flats, including about 1,000 that are designated under a 'starter homes' pilot scheme for residents.
The ICAC said some individuals allegedly provided illicit incentives to site supervisors in exchange for lenient oversight of subpar construction practices.
The perks included cash rewards ranging from thousands to tens of thousands of Hong Kong dollars, a large number of mooncake vouchers, lavish meals at high-end restaurants costing thousands per person, and entertainment at nightclubs costing between HK$20,000 and HK$30,000 on each occasion, the anti-corruption agency said.
Those arrested are suspected to have committed offences including bribery, accepting bribes, conspiracy to defraud and using false instruments.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
2 hours ago
- South China Morning Post
Lutnick says US-China trade talks could spill into a third day
US Commerce Secretary Howard Lutnick said trade talks with China, under way in London since Monday, may spill into a third day. Advertisement 'We're working on all sorts of trade issues, and I think the talks are going really, really well,' he told reporters gathered outside Lancaster House, the UK government mansion where the talks are taking place. 'We're … spending time and effort and energy. Everybody's got their head down, working closely through it,' he said close to 8pm local time. 'I hope they end this evening, but if need be, we'll be here tomorrow.' The talks are the latest attempt to defuse tensions between the world's two largest economies over a slew of trade and technology issues, which remain at boiling point despite the two sides agreeing a temporary deal to scale back tariffs on each other's goods last month. The meeting in London comes just days after a phone call between President Xi Jinping and US President Donald Trump, during which the two leaders agreed to push forward with negotiations aimed at resolving their ongoing economic disputes. Advertisement Lutnick, US Treasury Scott Bessent and Trade Representative Jamieson Greer also attended what was described as 'the first meeting of the China-US economic and trade consultation mechanism'.
South China Morning Post
6 hours ago
- South China Morning Post
Hong Kong needs route for taxis, ride-hailing firms to co-exist: lawmakers
Hong Kong should find a way to allow the taxi trade and ride-hailing services to compete and complement each other, even though cab owners blame competition from unregulated platforms for lowering the value of their licences, lawmakers have said. Debate on the way forward for the trade followed calls from some industry leaders for the government to buy back their taxi licences for HK$5 million (US$637,100) each, an idea Chief Executive John Lee Ka-chiu ruled out on Tuesday Owners argue that their licences have consistently depreciated because of the rise of online ride-hailing platforms such as Uber. The number of taxi licences has remained constant at 18,138 since the government stopped issuing them in 1994. However, licences can be transferred and traded, leading some drivers and investors to use them as a form of speculative asset. The price of a licence and a taxi dropped from a record high of HK$7.66 million in 2009 to HK$2.02 million this month, resulting in significant potential financial losses for owners. The value also fell sharply in 2019 as social unrest rocked the city, dropping from HK$6.02 million to HK$4.96 million.
South China Morning Post
8 hours ago
- South China Morning Post
Tencent Music to buy Ximalaya, an audio app used by 300 million users
Tencent Music Entertainment Group , China's largest online music platform by user count, announced on Tuesday its acquisition of audio content platform Ximalaya for about US$2.4 billion in cash and stock. The Tencent Holdings subsidiary will offer US$1.26 billion in cash and up to 5.2 per cent of its total outstanding class A ordinary shares. It will also issue up to 0.37 per cent of its shares to Ximalaya's founding investors. As part of the deal, Ximalaya will restructure certain existing businesses. The transaction is subject to regulatory approvals, including antitrust reviews. Ximalaya confirmed the merger in a notice, pledging to maintain its brand, operational autonomy, core management team and strategic direction. The company also assured business partners that existing contracts would be honoured and user rights would be protected. Tencent Music is listed in New York and Hong Kong. Photo: Shutterstock 'We believe this partnership will unlock new opportunities for Ximalaya's users, creators, employees, partners and shareholders,' the statement read.
