Tianjin Capital Environmental Protection Group (HKG:1065) said its subsidiary failed to follow internal approval procedures for a transaction related to the "Tientsin Eye" EPC project.
The water provider cited staff turnover and limited compliance awareness as causes, describing the breach as an isolated incident. Remedial actions include strengthened training, updated connected person lists, and tighter monitoring of transaction reporting.
The company reaffirmed the effectiveness of its overall internal control system despite the lapse, according to a Friday filing with the Hong Kong bourse.
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