As reported by the Hong Kong Standard today, a fully owned subsidiary of China Communications Construction (1800), China Harbour Engineering Co Ltd, was alleged in bribery in order to win a port contract in Bangladesh.
I am doubtful whether today’s drop in share price (more than 6%; closed at HKD 8.85) is due to this bribery case. I think it is mainly due to the general weakness today. Come on, if you add China and Bangladesh together, I would be very surprised if there wasn’t any bribery or unethical money transfer involved!
