A former top leader of a Hong Kong triad society has been arrested in connection with a gangland hit on a faction chief, who survived the close-range shooting in Tsim Sha Tsui last month after driving himself to hospital.

The 49-year-old suspect, surnamed Chan, is a former No 1 boss of the Wo Shing Wo triad society and goes by the nickname “ETB” in underworld circles.

A police spokesman said officers arrested Chan on Thursday for conspiracy to murder.

“He has been released on bail pending further inquiries and is required to report back to police in early November,” statement from the force said on Saturday, adding that Kowloon West regional crime squad was investigating.

A police insider said the force was still hunting the gunman, who Chan was suspected to have hired for a revenge attack related to a money dispute linked to a meat smuggling racket.

Last month, the leader of the Wo Shing Wo’s Tsuen Wan faction was shot in the chest by a hitman on a motorcycle outside the Victoria Mall shopping centre in Tsim Sha Tsui shortly after midnight.

The 45-year-old victim, surnamed Yim, managed to drive for 1km to the accident and emergency department at Queen Elizabeth Hospital in Yau Ma Tei.

“The dispute centres on a suspected frozen meat smuggling business run by Yim in seafront vessel cargo areas. Yim occupied some of Chan’s areas. Chan later asked for more money, but Yim refused,” the insider said.

Yim is also known as “Tsz Sin Yung”, or “crazy Yung” and is suspected of holding the rank of “red-pole fighter”, making him a senior triad member who acts as an enforcer.

Police earlier said the shooting happened when the bike pulled up next to Yim’s Mercedes-Benz when it stopped at traffic lights at the junction of Austin Road and Canton Road, about 300 metres from Tsim Sha Tsui Police Station.

The hitman, wearing a white helmet, left his bike, walked a short distance and fired one shot which pierced the car’s left front window and struck the victim’s torso near his armpit.

The victim immediately drove off to hospital. During his escape, his car hit three taxis on Jordan Road, but no one was injured.

The attacker, who was wearing blue jeans and a dark-coloured long-sleeve shirt, sped off after the hit, which police said “just took a few seconds”.

Officers wearing bulletproof vests and carrying shotguns later searched the area, and found a spent shell casing at the scene.