Integrity Focus

The vice president of a company was charged by the ICAC yesterday (February 28) for allegedly soliciting a bribe of $2 million to $3 million from a business partner for assisting to resolve a dispute between the two parties over a property development project on terms most favourable to the business partner.

Wang Wenning, 64, vice president of China Coal Hong Kong Limited (CCHK, formerly known as Double Resources Limited), faces one count of agent soliciting an advantage, contrary to Section 9(1)(b) of the Prevention of Bribery Ordinance. He was released on ICAC bail, pending his appearance at the Eastern Magistrates’ Courts tomorrow (March 1) for plea.

In 1994, the parent company of CCHK planned to jointly invest in a property development project with the business partner and capital injection would be made by CCHK. CCHK subsequently intended to withdraw from the project but the two parties failed to reach a final agreement.

Since 2018, CCHK and the business partner had a dispute over the amount of money entitled by CCHK regarding the realisable assets of the project. The defendant was assigned to resolve the dispute.

It is alleged that on October 8, 2018, the defendant solicited from a director-cum- shareholder of the business partner a bribe between $2 million and $3 million for assisting to resolve the dispute on terms and conditions most favourable to the business partner. The solicitation was declined.

CCHK does not allow its employees to solicit or accept advantages from others in relation to CCHK’s affairs and business.

CCHK and the business partner concerned have rendered full assistance to the ICAC during its investigation into the case.