Electricity producer distances itself as more people are arrested in ICAC probe State-owned electricity producer China Power International Holding, headed by former premier Li Peng's daughter Li Xiaolin, yesterday distanced itself from an alleged scam involving two renewable energy firms by calling off a $49.4 million share purchase. China Power scrapped plans to acquire a 5.4 per cent stake in China Sciences Conservational Power a day after its chairman Hon Ming-kong and executive director Abba Chan Tat-chee were arrested on suspicion of misappropriating $100 million from China Sciences and another listed firm, China Conservational Power Holdings. The 11th-hour withdrawal from the deal came as the Independent Commission Against Corruption made more arrests yesterday. One of them was understood to be a director of Kingston Corporate Finance who is alleged to have helped create bogus deals on the mainland to facilitate the misappropriation of funds. The others are believed to be associates of Mr Hon and Mr Chan. In all, the ICAC has arrested 25 people in connection with the investigation. An ICAC spokeswoman said no charges had yet been laid. China Power spokesman Shou Rufeng said the state-owned utility decided not to proceed with the share purchase which would have been completed yesterday. 'Originally, China Power wanted to team up with the company, which has a licence in power generation by burning refuse,' Mr Shou said. 'However, following the arrests we decided not to complete the deal.' China Sciences is about 11 per cent owned by Citic International Assets Management and Citic Capital Investment Holdings, two units of the central government's investment arm, China International Trust & Investment Corp (Citic). Wong King-king, the daughter of Citic Group chairman Wang Jun, is a vice-chairwoman and executive director of China Sciences. A Citic spokeswoman declined to comment on the fate of the Citic group companies' stakes in China Sciences as the ICAC investigation is continuing. China Conservational Power and China Sciences share some executive directors, with China Conservational holding 100 million convertible preference shares of China Sciences. Mr Hon, who is also an executive director of China Conservational Power, was named as a defendant in a court writ filed on Thursday alleging that the company failed to repay $6.28 million owed to plaintiff Lai Sai-sang despite repeated requests. The requests followed the bouncing of an alleged cheque that Mr Hon issued to the plaintiff but was dishonoured by Wing Hang Bank.