By WAYNE MA
BEIJING -- A major contractor for PetroChina
said Tuesday that its founder was assisting Chinese
authorities with investigations, the latest executive to be
identified in a sweeping anticorruption probe that has targeted
high-ranking Chinese executives and government officials.
Hua Bangsong, who also is chairman and a controlling
shareholder in Wison Engineering Services Co., is "assisting
the relevant authorities in [China] with their investigations,"
the company said in a filing on the Hong Kong Stock Exchange.
Wison said its board of directors is "convinced that factual
circumstances will be clarified."
Mr. Hua hasn't been accused of any wrongdoing. A spokesman
for Wison said the company's operations would continue as
normal. Mr. Hua, who owns almost 80% of Wison, wasn't available
Wison's shares were halted Monday pending the announcement
and didn't resume trading on Tuesday.
Wison said it was aware of recent media reports on Wison's
business relationships to PetroChina. Wison, which went public
last year, said it completed a required compliance check before
listing on the Hong Kong exchange and that its revenue from
contracts with PetroChina for the first half of this year was
The Wison statement is the latest sign of a spreading
investigation that in the past 10 days has seen five current
and former executives at PetroChina or its parent company China
National Petroleum Corp. placed under investigation for "severe
disciplinary violations." The phrase "severe disciplinary
violations" usually refers to alleged corruption.
The highest-level official publicly identified as being
under investigation so far is Jiang Jiemin, the former chairman
of CNPC and PetroChina. The government's Xinhua News
Agency, citing the Communist Party's personnel office,
said Tuesday that Mr. Jiang has been removed as head of the
State-owned Assets Supervision and Administration Commission,
the body that oversees state companies, due to the suspected
It isn't clear whether any of these investigations are
Based in Shanghai's Pudong district, Wison provides
engineering, procurement and construction services to the petrochemical, refining and coal-to-chemical
industries. The company also has operations in the US,
Singapore and Saudi Arabia, according to its website.
Over the past decade, Wison has worked on a number of projects for PetroChina, according
to Wison's website. In 2008, Wison built an oil refinery for PetroChina in Dalian,
the largest facility of its kind at the time, it said.
Dow Jones Newswires