Malaysia: Money seizure not targeted at China but the firm itself, says Guan Eng

• The action taken against China Petroleum Pipeline Engineering Ltd (CPP) is company specific and not against the country, said Finance Minister Lim Guan Eng.
• “The government has the duty to protect the country’s interest when a company’s actions do not benefit us,” said Lim during the question-and-answer session in Dewan Rakyat on 17 Jul 19 morning.
• Lim said the claims are made on the request of the Malaysian Anti-Corruption Commission (MACC).
• He said negotiations between Suria Strategic Energy Resources Sdn Bhd, CPP and China Exim Bank are in progress.
• Lim was responding to Chan Foong Hin’s (PH-Kota Kinabalu) on the government’s efforts to reclaim MYR3.54bn on the Trans-Sabah Gas Pipeline project.
• Lim, who is also Bagan MP, said the negotiations depends on the due diligence to determine the actual cost of the work done.
• Prime Minister Dr Mahathir Mohamad on 15 Jul 19 confirmed Malaysia had seized more than MYR1bn from CPP after the MYR9.41bn pipeline project was scrapped.
• He said the China-based company had completed only 13% of the project but taken 80% of the money from the government as payment.

External Link : https://www.themalaysianinsight.com/s/168921