German engineering giant Siemens, which has been implicated in several corruption scandals, had also been placed ”under observation” due to ethical concerns, Finance Minister Kristin Halvorsen said.
The fund has sold off its 30 million kroner (HK$33.97 million) stake in Dongfeng over its sale of some 900 military trucks to Burma.
That move came after Norway in October said the fund would no longer invest in companies that send military equipment to the country’s military junta.
Dongfeng is thus the first company to be blacklisted by the fund over the new rule and is also the first mainland company to be ruled out as an investment target.
AGENCE FRANCE-PRESSE http://www.thestandard.com.hk/breaking_news_detail.asp?id=13193&icid=2&d_str=20090313
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