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Australia

Emperor denies offences

PUBLISHED : Saturday, 27 July, 1996, 12:00am
UPDATED : Saturday, 27 July, 1996, 12:00am

Emperor Group last night denied Emperor Securities had engaged in 'unsuitable behaviour' receiving the transfer of three stock exchange seats from Shing On Securities.


The statement follows charges last week against former vice-chairman of the exchange Chen Po-sum for eight alleged bribery offences.


The Independent Commission Against Corruption alleges that Chen received a total of $800,000 for supporting the transfer of the seats.


Emperor said it fully met the exchange's regulatory requirements when it applied to have the seats transferred to it. Therefore, it said, it did not need any assistance to win approval from the exchange.


Emperor said it was operating with the ICAC.