Hong Kong's Competition Tribunal held its first hearing on Wednesday in a case against eight companies and twelve individuals accused of rigging bids for building maintenance projects worth nearly HK$700 million, with a full trial expected no earlier than 2028.
The Competition Commission accuses the group of rigging bids for at least eleven projects between April 2022 and September 2023, including maintenance work at Wang Fuk Court.
Merchant Cheung Kwing-kuen, 42, allegedly led the syndicate through Smart Goal Construction Engineering, Lermond Development Group and Dream Building Construction Engineering.
A commission court document states that Cheung and Dream Building “devised and deployed this systematic scheme with an objective to secure a significant market share in the industry.”
Cheung reportedly wrote that he was “confident in challenging the 25 per cent market share threshold.” The commission launched proceedings in March.
