HK's Analogue does not expect U.S. sanctions to impact firm
Hong Kong Special Administrative Region, China. /VCG

Hong Kong Special Administrative Region, China. /VCG

Building services provider Analogue Holdings Ltd. said on Sunday it did not believe sanctions imposed on Hong Kong Justice Secretary Teresa Cheng, spouse of its chairman, will impact its business.

The United States imposed sanctions Friday on Hong Kong Special Administrative Region Chief Executive Carrie Lam and other officials including Cheng, according to the U.S. Treasury Department's website.

Cheng, spouse of chairman and executive director Otto Poon, does not have any legal or beneficial ownership or financial interests in any of the company shares, the firm said in a Hong Kong bourse filing.

"With the assistance of the company's U.S. legal counsel, the company has reviewed the U.S. Treasury's announcement... and preliminarily does not believe the sanctions imposed therein on Ms. Cheng will apply to the group based on all available information at this time," the company said. "However, the company and its U.S. legal counsel will continue to monitor the situation."

Analogue had agreed in March to buy a 51 percent stake in New York-based repair and maintenance services firm Elevator & Electric Inc. for 35.7 million U.S. dollars.

(With input from Reuters)