Myanmar police arrested the former chairman and CEO of the Chinese shipbuilder Sinopacific Shipbuilding, Liang Xiaolei (Simon Liang), allegedly over tax issues.
According to local media, Mr. Liang was arrested at Rangoon international airport when heading to Thailand and is now handed over to Chinese authorities.
International sources report that he has refused to pay tax of over RMB 1 million, and a Ningbo court issued an arrest warrant for him.
Sinopacific Shipbuilding bankrupted in July 2017. The parent company of Sinopacific Shipbuilding, Evergreen Holding, has been facing financial problems, as it has defaulted bond payments and has open court cases with many creditors. In addition, Sinopacific Offshore was sold to the state run CIMC in 2017.
Last week, the Chinese Association of the National Shipbuilding Industry announced that China has maintained its position as a leader in the global shipbuilding industry in 2018.
