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RM1 billion seized from Chinese company over pipeline project - PM Mahathir

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'I don't see why the Chinese would feel unhappy about it because we are not taking back money for what they have done.'

Malaysia seized more than RM1 billion from a bank account of state-owned China Petroleum Pipeline Engineering over incomplete pipeline projects, Prime Minister Mahathir Mohamad said on Monday.

“I understand that money for 80 percent of the pipeline was paid, but the work completed was only 13 percent," Mahathir told reporters."So the government is entitled to get back the money, since the project was cancelled.”, which said that Malaysia had seized the funds from CPP's account at HSBC Malaysia.CPP did not reply to requests for comment over the weekend and on Monday.

Both projects were suspended by Mahathir in July last year after he defeated Najib in the 2018 national election. Malaysia and China this year agreed to resume a multibillion-dollar rail project after shaving off nearly a third of its cost to RM44 billion.

 

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