TNAG-1764-FCO40-2518-Hong-Kong-stock-market-and-exchange-rate-1988 — Page 154

UNCLASSIFIED

111622 MDADAN 0786

UNCLASSIFIED

FM HONG KONG

TO DESKBY 02070OZ FCO

TELNO 12

OF 02050OZ JANUARY 88

INFO DESKBY 04010OZ PEKING

MIPT: STOCK EXCHANGE:

ADVANCE COPY

INVESTIGATION BY ICAC

1. TEXT OF ICAC PRESS RELEASES IS AS FOLLOWS:

A.

THE FOLLOWING IS ISSUED ON BEHALF OF THE ICAC:

IN CONNECTION WITH ENQUIRIES BY THE INDEPENDENT COMMISSION AGAINST CORRUPTION INTO THE OPERATION OF THE STOCK EXCHANGE OF HONG KONG, ICAC OFFICERS THIS MORNING ARRESTED THREE PERSONS.

ENQUIRIES ARE CONTINUING.

RELEASED BY THE ICAC ON 2.1.88 AT 0920 HRS.

B.

THE FOLLOWING IS ISSUED ON BEHALF OF THE

ICAC:

IN RESPONSE TO A NUMBER OF MEDIA ENQUIRES, THE COMMISSIONER OF THE ICAC, IN THE PARTICULAR CIRCUMSTANCES OF THE OPERATION THIS MORNING HAS AUTHORISED UNDER SECTION 30(2) OF THE PREVENTION OF BRIBERY ORDINANCE, THE DISCLOSURE OF THE IDENTITIES OF THE THREE ARRESTED PERSONS AS FOLLOWS:

STOCK EXCHANGE

RONALD LI FOOK-SHIU, FORMER CHAIRMAN OF THE OF HONG KONG LIMITED: JEFFREY SUN HON-KUEN, CHIEF EXECUTIVE OFFICER OF THE STOCK EXCHANGE OF HONG KONG LIMITED: AND DONALD TSANG TAK-HUNG, HEAD OF THE LISTING DEPARTMENT OF THE STOCK EXCHANGE OF HONG KONG LIMITED.

RELEASED BY THE ICAC ON JANUARY 2, 1988 AT 0945 HRS.

WILSON

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ADVANCE

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RESIDENT CLERK