Malaysia seized $240 million from Chinese company over pipeline project: PM Mahathir

  • 📰 YahooSG
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 71%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Malaysia seized $240 million from Chinese company over pipeline project: PM Mahathir. YahooFinance

KUALA LUMPUR - Malaysia seized more than 1 billion ringgit from a bank account of state-owned China Petroleum Pipeline Engineering over incomplete pipeline projects, Prime Minister Mahathir Mohamad said on Monday.

His comments followed a report on Saturday from Singapore-based Straits Times, which said that Malaysia had seized the funds from CPP's account at HSBC Malaysia.In an email sent to Reuters late on Monday, CPP said it understood Malaysia's Anti-Corruption Council ordered the fund transfer and that it was made without the company's knowledge.

Both projects were suspended by Mahathir in July last year after he defeated Najib in the 2018 national election.

 

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:

 /  🏆 3. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

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

Malaysia seized US$240 million from Chinese company over pipeline project: PM MahathirKUALA LUMPUR: Malaysia seized more than 1 billion ringgit (US$243.5 million) from a bank account of state-owned China Petroleum Pipeline ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »