Guan Eng: Neither I nor Finance Ministry ordered seizure of RM1bil from CPP’s bank accounts


  • Nation
  • Monday, 15 Jul 2019

KUALA LUMPUR: The Finance Ministry did not issue any instructions to seize more than RM1bil in funds from state-owned China Petroleum Pipeline Engineering Ltd (CPP), says Lim Guan Eng.

“I would just like to say that neither the Finance Ministry nor I issued any instructions for the seizure.

“So, if there are any instructions of seizure, you should refer to the enforcement agencies. That’s all I want to say,” said the Finance Minister, without elaborating further.

Lim was speaking to reporters at the Parliament lobby on Monday (July 15).

Last Saturday (July 13), it was reported that the authorities have seized more than RM1bil (US$243.25mil) from a HSBC bank account belonging to CPP.

The seizure came nearly a year after authorities suspended two pipeline projects, valued at US$2.3bil (RM9.45bil), for which CPP was the lead contractor.

Singapore’s Straits Times, in quoting sources, said that the Pakatan Harapan government had ordered HSBC to transfer the funds held in CPP’s account to Suria Strategic Energy Resources, which is wholly owned by the Finance Ministry.

CPP said it was perplexed by the unilateral transfer of funds out of its account without notification, while HSBC had declined to comment on the matter, citing client confidentiality.     


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