LAP KEI ENGRG: The media allegations regarding the group's default on workers' wages are untrue and unfounded
LAP KEI ENGRG responded to media accusations regarding the default on workers' wages, stating that the accusations are untrue. The company clarified that all workers alleged to have unpaid wages are not its employees, but rather employees of subcontractors. The company has agreed to advance wages for subcontractors to protect workers' rights and has always made full payments as per the contract. The announcement also emphasized that the group's financial condition is stable
According to the Zhitong Finance APP, LAP KEI ENGRG (01690) announced that the board of directors noted media reports published on July 8, 2025, claiming that the group had not paid the wages of workers on a project in Kowloon Bay, Hong Kong. Several workers protested at the main entrance of the building where the project is located due to unpaid wages. The company hereby informs its shareholders and potential investors that the allegations in the media reports regarding the group not paying workers' wages are untrue and baseless.
The company further clarifies that (i) the group does not owe any salary or wages to any of its employees; (ii) all workers claiming unpaid wages are not employees of the group but are employees of a subcontractor of the group; (iii) after learning that the subcontractor was facing financial difficulties, the group agreed to directly advance wages to the workers on behalf of the subcontractor to protect the workers' rights and ensure the project is completed on time; and (iv) the group has been making full payments to the subcontractor according to the subcontract agreement.
The company further clarifies that as of the date of this announcement, the group's financial condition remains robust
