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Sunday, July 31, 2016

China firm denies rail project 'price hike to bailout 1MDB' claim

The China Communications Construction Company (CCCC) has denied allegations of a conspiracy to inflate the cost of the double-track East Coast Rail Project (ECRP) to help the Malaysian government secretly pay off 1MDB debt.
According to the daily The Australian, the CCCC said it had “no knowledge of the claims in those (Sarawak Report) articles”.
“We will continue to follow those false accusations made by certain media and will take necessary steps to defend our lawful rights,” the China state-owned company told the Australia-based newspaper.
The company was responding to Sarawak Report’s claims that the ECRP project would be awarded to the CCCC at an increased cost of RM60 billion, instead of RM30 billion.
Works Minister Fadillah Yusof has also denied the allegation.
[More to follow]


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