KUALA LUMPUR—Malaysia seized more than 1 billion ringgit ($243.5 million) from a bank account of state-owned China Petroleum Pipeline Engineering (CPP) over incomplete pipeline projects, Prime Minister Mahathir Mohamad said on July 15.
The seizure comes nearly a year after Malaysia suspended two pipeline projects, valued at $2.3 billion, on which CPP was the lead contractor. CPP is a unit of state energy giant China National Petroleum Corp.
