Malaysia seizes $240 mln from Chinese state firm's bank account -paper

World News: . []

Malaysia seizes $240 mln from Chinese state firm's bank account -paperMalaysia has seized more than 1 billion ringgit ($243.25 million) from a bank account of state-owned China Petroleum Pipeline Engineering Ltd (CPP), the Straits Times newspaper said on Saturday. The seizure comes nearly a year after Malaysia suspended two pipeline projects, valued at $2.3 billion, on which CPP was the lead contractor. The Malaysian government this month ordered HSBC to transfer the funds held in the Chinese firm's account to Suria Strategic Energy Resources, which is wholly owned by the Malaysian finance ministry, the Singapore-based newspaper said.


Read More: https://news.yahoo.com/malaysia-seizes-240-mln-chinese-073830759.html

Published: .

Search for other references to "malaysia" on SPi News


Share

Previous StoryNext Story

SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2019. [Admin Only]
 
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 07519380.
 
Privacy Policy | Terms and Conditions | Contact Us