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LGE justifies RM1bil seized from CCP, says it was company-specific

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KUALA LUMPUR: The move to seize more than RM1bil from the bank account of China Petroleum Pipeline Engineering Ltd (CPP) is a “company specific” action, says Finance Minister Lim Guan Eng.

“The action is company-specific and not country-specific,” he said when answering a question raised by Chan Foong Hin in Parliament on Wednesday .

He added that negotiations were still on-going with the company on the recovery efforts, with the actual amount to be determined after a due diligence exercise. On Monday , Prime Minister Tun Dr Mahathir Mohamad said the government was entitled to recover the money after the project was shelved.

 

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