Malaysia seizes US$240m from CPP's bank account

[TerrexLee]

Malaysia has seized more than RM1bil (US$243.25mil) from a bank account of state-owned China Petroleum Pipeline Engineering Ltd (CPP), the Straits Times newspaper said on Saturday.

The seizure comes nearly a year after Malaysia suspended two pipeline projects, valued at US$2.3bil, on which CPP was the lead contractor.

The Malaysian government this month ordered HSBC to transfer the funds held in the Chinese firm's account to Suria Strategic Energy Resources, which is wholly owned by the Malaysian finance ministry, the Singapore-based newspaper said.

CPP was perplexed by the unilateral transfer of funds out of its account without notification, the firm, a unit of state energy giant China National Petroleum Corp, told the newspaper.

 

[laksaboy]

Mahathir is a smart guy. Only Najib could be bribed into acquiescing to the Chicom OBOR debt trap.

 

[syed putra]

Nobody knew who confiscated the amount. Ministry if finance said its not them.maybe its the law enforcers.or it could be jho low faking malaysian gahmen directive.

 

[tun_dr_m]

Cannot get Najib & Jho Loh's funds than try to rob Xijinping.

Xi should seize whole KL city & capital Putra Jaya with PLA and break Dr. M's face.

 

[garlic]

this will be fun..

 

[congo9]

If i have to pay 600million in bribe to let Prime Minister to sell his own country, i gladly pay for it.
600 million is just too cheap.