UPDATE 2-Facility services group ISS shares fall 10% after Hong Kong announces fire probe

Hong Kong's leader said on Tuesday the committee will investigate the cause of the fire at the Wang Fuk Court and review oversight of building renovations blamed for fanning an inferno that killed at least 156 people. "The company is already engaged with relevant authorities and will continue to cooperate fully with the inquiry, including providing information and assistance," ISS EastPoint Properties Limited said in the statement provided by its Danish parent group.

Danish facilities management group ISS said on Tuesday it supported Hong Kong's decision to establish a judge-led committee to investigate the cause of the city's deadliest fire in decades, and that the company was cooperating in the probe. ISS said in a statement that its Hong Kong property management arm ISS EastPoint Properties Limited provided administrative support for the incorporated owners of Wang Fuk Court - the site of the fire - but was not involved in appointing the contractor for major renovation work or overseeing renovations on a day-to-day basis. Hong Kong authorities have not named ISS as a target of investigation. The share price of ISS fell by 10% following the release of the company's statement, marking its worst trading day since August 2023. Hong Kong's leader said on Tuesday the committee will investigate the cause of the fire at the Wang Fuk Court and review oversight of building renovations blamed for fanning an inferno that killed at least 156 people.

"The company is already engaged with relevant authorities and will continue to cooperate fully with the inquiry, including providing information and assistance," ISS EastPoint Properties Limited said in the statement provided by its Danish parent group.

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