ICAC requests documents from Shenzhen Investment

The Independent Commission Against Corruption (ICAC) visited the main office of Shenzhen Investment in Hong Kong on Wednesday and requested company documents, the Hong Kong-listed property developer said yesterday.

The ICAC is conducting an investigation on the suspected bribery of unnamed persons, including former and present employees of Shenzhen Investment, 'to obtain options under the share option scheme of the company for the period from 2002 to 2009,' Shenzhen Investment said in a Hong Kong stock exchange filing.

'The company also understands that such investigation does not involve any directors of the present board and is not against the company,' Shenzhen Investment said.

'The company has provided documents related to its previous share option scheme, which had expired on June 5, and some accounting documents to the ICAC.'

The property developer's shares were suspended on Wednesday but are expected to resume trading on Monday. Shenzhen Investment is 43.09 per cent owned by the Shenzhen government.

It develops mid- to high-end property projects in southern China. The company holds 600,000 square metres of investment properties at prime locations in Shenzhen and has land reserves of 11.12 million sq m, of which 2.05 million sq m is under construction, according to the company's 2011 annual report.