Report: Putrajaya seizes over RM1b from China-owned pipeline firm’s HSBC account
KUALA LUMPUR, July 13 — Putrajaya has reportedly seized more than RM1 billion of funds held by China Petroleum Pipeline Engineering Ltd , amid a dispute involving billion-ringgit pipeline projects here that was suspended since last year. cited sources saying that earlier this month, the federal government ordered banking giant HSBC to transfer the funds in CPP’s Malaysian account to a company owned by the Ministry of Finance, Suria Strategic Resources Sdn Bhd.
“CPP firmly abides with the laws of Malaysia and is perplexed by the unilateral transfer of monies without notifying CPP,” the company was reported telling
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