World Bank bid-rigging charge denied by CRBC

A Chinese firm banned by the World Bank for allegedly rigging bids for a major road construction project in the Philippines has denied the accusation, saying the judgment was made without enough evidence.

China Communications Construction Company Ltd, the parent company of China Road and Bridge Corp (CRBC), one of the seven firms cited by the World Bank for collusive practices, said: "the accusation has a lack of factual and legal merits."

"We cannot accept the judgments," the company said in an announcement to the Hong Kong Stock Exchange on Friday.