The Trans Sabah gas pipeline was to be built from Kimanis to Sandakan and Tawau.
The Straits Times newspaper in Singapore described the seizure and transfer of funds by Malaysian authorities as “an unprecedented move in Malaysian banking”. The Chinese company is the main contractor for the 660km-long Peninsular west coast pipeline, a project costing RM5.35 billion, and a Sabah gas pipeline costing RM4.06 billion. Both projects have been suspended by the Pakatan Harapan government.
Today’s Singapore report said that China Petroleum Pipeline had confirmed that the funds had been transferred out. “CPP firmly abides with the laws of Malaysia and is perplexed by the unilateral transfer of monies without notifying CPP,” said the company. HSBC, however, declined to comment.
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