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The fugitive businessman Jho Low reportedly had a central role in the two Suria Strategic Energy Resources Pipeline Projects Sdn Bhd (SSER), allegedly used to launder funds to bail out 1MDB [19659002]. report in the Wall Street Journal, which quoted a former Malaysian official who worked in the Prime Minister's office.
The official also told the publication that former Prime Minister Najib Abdul Razak was meeting Low on the sidelines of the Belt and Road forum in Beijing. in May 2017.
At the time, the China Petroleum Pipeline Bureau of Beijing had received funds for projects
Najib has since refuted the WSJ's contention that he had met Jho Low [19659002]. official, who claimed that one of Low's associates in 1MDB attended a meeting to discuss pipeline projects.
It was reported yesterday that funds from a loan from China Exim Bank meant the SSER project of 9.4 billion RM WSJ quoted current Malaysian officials who believed that part of the loan from $ 2 billion had been channeled into a series of shell companies before ending up at Silk Road Southeast Asia Real Estate Ltd., a Chinese company based in the Cayman Islands.
The sole beneficial owner of Silk Road would be a Middle Eastern investor, which officials believe to be a partner of Low.
last year, she paid 4.25 billion yuan (2.7 billion yuan), apparently to buy the 234 acres of land belonging to the state-owned fund in Ayer Itam, Penang .
However, Silk Road never received the land that she had paid.
The August 24 transaction took place just six days before the 1MDB paid the first installment of a $ 1.2 billion settlement with the International Petroleum Investment Company (IPIC). Abu Dhabi
. Pakatan Harapan's new government revealed that SSER had paid China Petroleum Pipeline Bureau $ 2 billion ($ 8.13 billion), or 88 percent of the value of the project, even though less than 15 percent of the work had been completed.
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