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'China's Belt and Road led to corruption in Malaysia'

ANI  |  Hong Kong [China] 

China's multi-billion dollar 'One Belt and Road' (OBOR) initiative has 'funded' corruption in Malaysia, an investigation carried out by (WSJ) has revealed.

The documents, accessed by the WSJ, reveal Beijing's designs of causing corruption in

SupChina, 'an independent company,' in an article titled 'How China's Belt And Road Reportedly Funded Corruption In Malaysia' called the WSJ report a 'bombshell story.'

Quoting the investigative piece, SupChina said the minutes of the meeting of Malaysian government, which was in power from April 2009 to May 2018, as well as the interviews with "people in position to know the events, among them a former of Mr. Najib's government" revealed China's overseas influence.

"Chinese officials told visiting Malaysians that would use its influence to try to get the US and other countries to drop their probes of allegations that allies of then-and others plundered the fund known as 1MDB," writes

Infrastructure projects, funded by China, were planned in at "above market profitability" with excess funds created to "settle the 1MDB debts."

The East Coast Rail Link, a major part of China's initiative, was originally estimated to cost USD 7.25 billion. But turned into a USD 16 billion project, though it was suspended by Malaysia's new

Referring to the WSJ piece, Niewenhuis says that there are many 'juicy details' in the report, like China's State-owned Xiao Yaqìng, in June 2016, said that Chinese had "personally approved the infrastructure initiatives."

However, attributing the information to online Malaysiakini, SupChina says both Najib and the Chinese embassy in Kuala Lumpur, have denied these allegations.

The FT also reports that Malaysia's said that he would like to have a copy of those minutes that the WSJ report mentions, adding that he would "pursue" anything that is "in black and white" regarding the alleged improper deals.

According to Singapore's Channel NewsAsia, Lim said, "We know that the price (of projects with China) is inflated, but whether there was such a deal, I have to check.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, January 11 2019. 19:05 IST