External investigator suggested referring the suspected misappropriation to law enforcement agencies for criminal investigation, said Strong Petrochemical

Strong Petrochemical (0852) said the external investigator it engaged suggested referring the suspected misappropriation to law enforcement agencies for criminal investigation.

This came after the group said its internal financial review found the group’s former chief financial officer Kwan Pui-shan conspired with Wang Jiansheng and his son Paul Wang Pang to misappropriate the group's assets worth over HK$1 million.

According to the external investigator, the group has paid expenses claims made by Wang Jiansheng and his son Wang Pang between 2020 to 2024 amounting to approximately HK$1.5 million.

In addition, during the same period, Wang Jian Sheng has also made potential double claims through hotel and entertainment expenses up to HK$1.86 million.

The external investigator made a recommendation that the suspected misappropriation be referred to the relevant law enforcement agencies for criminal investigation.

(Cici Cao)