The ICAC has arrested 23 persons for alleged bribery and fraudulent practices over the tendering of renovation contracts of owners' incorporations (OIs) of various buildings.

The arrestees included two directors and six employees of a construction company, as well as five directors and a managing director of six other construction contractors.

Also arrested in operation code-named " Tango ", which commenced on Tuesday (October 14), were five OI chairmen and vice-chairmen, three employees of different property management companies, and a director of an architectural firm.

The ICAC has received corruption complaints alleging that two directors of a construction company had obtained renovation contracts of various buildings by corrupt and fraudulent means.

The two directors were alleged to have offered bribes to chairmen and members of the OIs of a number of buildings, as well as employees of property management companies in relation to the awarding of renovation contracts.

The two directors were further alleged to have manipulated the tendering procedures by corruptly approaching a number of contractors for "fixing" the price of the relevant tenders prior to the bidding.

They had also allegedly offered advantages to consultancy firms supervising the tendering exercises for favourable reports on their company during the short-listing process.

Inquiries are continuing.