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Hong Kong businessman under investigation amid Sinopec probe -Caixin
October 15, 2015 / 9:19 AM / 2 years ago

Hong Kong businessman under investigation amid Sinopec probe -Caixin

BEIJING, Oct 15 (Reuters) - A Hong Kong businessman involved in Sinopec’s Angolan operations has been put under investigation just days after the oil giant’s former chairman was subjected to a corruption probe, the financial magazine Caixin said, citing people with knowledge of the matter.

The businessman, Sam Pa, also known as Xu Jinghua, was arrested on Oct. 8, the same day China’s graft watchdog announced a probe into ex-Sinopec executive Su Shulin for suspected corruption.

Pa’s firm was involved in Sinopec’s oil exploration projects in Angola during Su’s reign as Sinopec chief, according to Caixin. He has also served as a middleman to help the state-owned oil giant secure deals in Angola, it said.

Pa was not immediately available for comment. A public relations official with Sinopec declined to comment.

Sinopec Corp holds a 55 percent stake in a joint venture called Sonangol Sinopec International, which was established in 2004 and holds a 50 percent interest in the deepwater Block 18 off the Angolan coast.

China’s Central Commision for Discipline Inspection said Su was suspected of “serious disciplinary violation”, one of the latest high-ranking officials taken down during the country’s sweeping campaign against corruption.

Su had also served as Fujian governor since 2011 and was also appointed deputy Communist Party chief in Fujian.

President Xi Jinping has carried out a sweeping campaign against corruption, waste and extravagance in official ranks since he assumed power three years ago. (Reporting by Meng Meng, Judy Hua and David Stanway; Editing by Nick Macfie)

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