News Formal

Lim: Finance Ministry did not order RM1bil seizure

  • 📰 staronline
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 75%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

THE Finance Ministry did not order the seizure of over RM1bil in funds from state-owned China Petroleum Pipeline Engineering Ltd (CPP), says its Minister Lim Guan Eng.

“I would like to say the Ministry of Finance and myself, we did not issue any instructions of seizure.

“So, if there are any instructions of seizure, you should refer the matter to enforcement agencies,” he said when asked for comments at the Parliament lobby yesterday. It was reported on Saturday that the authorities seized over RM1bil from a HSBC bank account of CPP. The seizure came nearly a year after authorities suspended two pipe­line projects worth US$2.3bil, on which CPP was lead contractor.

Singapore’s Straits Times, quoting sources, said the Pakatan Hara­pan government ordered HSBC to transfer the funds held in CPP’s account to Suria Strategic Energy Resources, owned by the Finance Ministry.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Guan Eng: Neither I nor Finance Ministry ordered seizure of RM1bil from CPP’s bank accountsKUALA LUMPUR: The Finance Ministry did not issue any instructions to seize more than RM1bil in funds from state-owned China Petroleum Pipeline Engineering Ltd (CPP), says Lim Guan Eng.
Source: staronline - 🏆 4. / 75 Read more »