Pearl Oriental Oil (00632) said it has been informed by Deputy Chairman and executive director Lew Mon Hung that he was arrested by the Independent Commission Against Corruption (the ICAC) and was released on bail on 20 February mainly for certain allegation that he might have attempted to pervert the course of justice and of criminal intimidation in respect of certain correspondence allegedly between Lew and Chief Executive CY Leung.
No charge has been laid against Lew by the ICAC, Pearl Oriental Oil said. Lew has also informed the company that he strongly denies the allegation.
Management of Pearl Oriental Oil believes that the allegation has nothing to do with the company as it and its other directors are not involved in the allegation, therefore management believes that there is no material impact on the financial position and operation of the Group.
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