HONG KONG, April 21 Valuation and advisory
service firm Roma Group Ltd on Friday said Kelvin Luk
had resigned as chairman, chief executive officer and executive
director following his arrest by the city's anti-corruption
The Hong Kong-based company said Luk was arrested on
Wednesday by the Independent Commission Against Corruption for
his "alleged personal involvement" in a transaction with one of
the firm's clients. Luk has been released on bail, and could not
be reached for comment.
Hong Kong's anti-graft agency declined to comment.
Roma said the anti-corruption agency had conducted a search
at the company's office earlier this week, and said the
investigation had no material adverse impact to the firm and
that its business and operations remained normal.
The company said its executive director, Ken Yue, had been
re-designated as chairman and chief executive officer, and
Connie Chan had been appointed as executive director.
Shares of Roma, with a market value of $23.2 million,
plunged as much as 26 percent on Thursday to HK$0.031, the
lowest since January 2016.
($1 = 7.7749 Hong Kong dollars)
(Reporting by Donny Kwok; Editing by Anne Marie Roantree and