Wai Hung Group Holdings Ltd. (HK:3321) has released an update.
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Wai Hung Group Holdings Ltd. announced the arrest of executive director and chairman Mr. Li Kam Hung, and executive director Mr. Yu Ming Ho, by anti-corruption authorities for alleged offences including fictitious transactions and false accounting. The company confirmed that operations remain unaffected as internal systems and a special committee are in place to monitor the situation. Trading of the company’s shares, which was suspended, will resume following the board’s measures to address the investigation outcomes.
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