Malaysia's new government has suspended three major construction projects with Chinese companies, including two contracts for pipeline schemes with the China Petroleum Pipeline Bureau, worth a combined total of $more than $12bn, over allegations of money laundering involving the previous administration led by former Prime Minister Najib Razak. The move adds a further dimension to inquiries into the 1MDB investment fund, which are currently being conducted in the US, Switzerland and Singapore.
Malaysia's new government has suspended three major construction projects with Chinese companies, including two contracts for pipeline schemes with the China Petroleum Pipeline Bureau, worth a combined total of $2.3bn, over allegations of money laundering involving the previous administration led by former Prime Minister Najib Razak. The move adds a further dimension to inquiries into the 1MDB investment fund, which are currently being conducted in the US, Switzerland and Singapore.