Guan Eng: MOF did not issue any instruction to seize US$240m from CPP account
- 5 years ago
Finance Minister Lim Guan Eng today said that his ministry did not order the seizure of US$243.25 million (RM1 billion) from a local bank account belonging to the China Petroleum Pipeline Engineering Ltd (CPP).
On Saturday, the Straits Times reported that Malaysia has seized the money from the account of the Beijing-owned firm.
According to the report Putrajaya ordered HSBC to transfer the funds held in the Chinese firm's account to Suria Strategic Energy Resources, which is wholly-owned by the Finance Ministry.
The report also said CPP was perplexed by the alleged unilateral transfer of funds out of its account without notification.
On Saturday, the Straits Times reported that Malaysia has seized the money from the account of the Beijing-owned firm.
According to the report Putrajaya ordered HSBC to transfer the funds held in the Chinese firm's account to Suria Strategic Energy Resources, which is wholly-owned by the Finance Ministry.
The report also said CPP was perplexed by the alleged unilateral transfer of funds out of its account without notification.