Sinopec, as the company is called, is “cooperating fully with the relevant authority and will closely follow its progress,” the company said in an e-mailed statement yesterday. The company’s policy is to operate in line with Hong Kong’s “core values,” and it will not tolerate any illegal or corrupt conduct, Sinopec said.
Hong Kong’s Independent Commission Against Corruption is probing a Sinopec unit in Hong Kong, Apple Daily newspaper said yesterday, citing an unidentified person. Executives allegedly took bribes before awarding an oil-station contract, according to the report. The ICAC questioned two senior executives, it said.
The company’s preliminary understanding is the inquiries relate to the “individual conduct” of the individuals concerned, Beijing-based Sinopec said yesterday. Operations aren’t affected, it said.
To contact Bloomberg News staff for this story: Henry Sanderson in Beijing at email@example.com
To contact the editor responsible for this story: Rosalind Mathieson at firstname.lastname@example.org