Background
The allegations of collusion in the public procurement process have sparked widespread concern and outrage among the public. The two local companies, which have not been named, are accused of colluding with three of their directors to bid for 17 contracts worth approximately HK$180 million. The contracts in question are for cleaning services for public housing and other buildings. The public procurement process is a critical component of a government’s ability to deliver essential services to its citizens. It is a complex process that involves the evaluation of bids from multiple suppliers, with the goal of securing the best value for the taxpayer.
The penalty was imposed by the Hong Kong Monetary Authority (HKMA) for HK$10.96 million in breach of the Anti-Money Laundering (AML) regulations. HKC, a Hong Kong-based company, was found guilty of failing to report suspicious transactions and not implementing adequate anti-money laundering controls.
(Cheng Wong)
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