A 21-year-old Nepalese man was arrested for allegedly trafficking HK$3.5 million (US$460,000) worth of suspected cocaine on Hong Kong Island on Thursday.

Acting on a tip-off, officers from the narcotics bureau picked up the suspect on Old Bailey Street in Central at 9:30pm, news website HK01.com reported.

When arrested, the man, a restaurant waiter who holds a local identity card, was carrying a bag containing 3.5 kilograms of suspected cocaine.

Officers later charged the man with one count of drug trafficking.

Police are now investigating the source of the illegal drugs and looking into how it was being sold in an attempt to identify other persons involved in its distribution.

According to the Dangerous Drug Ordinance, any person who traffics in a dangerous drug shall be liable upon conviction to a fine of HK$5 million and lifeimprisonment.