Tun Dr Mahathir Mohamad speaks at a press conference after chairing the weekly Cabinet meeting at Kompleks Perdana Putra in Putrajaya June 6, 2018. ― Picture by Ahmad Zamzahuri

KUALA LUMPUR, June 6 — Finance Minister Lim Guan Eng and several officers from the Malaysian Anti-Corruption Commission (MACC) will be heading to China to “negotiate” several controversial projects worth RM9.4 billion.

The projects are the Multi-Product Pipeline (MPP) and the Trans-Sabah Gas Pipeline (TSGP), Prime Minister Tun Dr Mahathir Mohamad announced after a Cabinet meeting earlier today.

“The time-based milestone payments for the Multi-Product Pipeline and the Trans-Sabah Gas Pipeline will be reviewed.

“For this purpose, the finance minister and MACC officers will go to the People’s Republic of China to negotiate with involved parties,” Dr Mahathir said.

Lim, who succeeded Najib as finance minister, disclosed recently the discovery of the new financial scandal tucked away in his ministry’s so-called “red files”.

Before the 1Malaysia Development Bhd (1MDB) scandal has been resolved, Lim’s ministry unearthed potential abuse in two pipeline contracts involving Finance Ministry subsidiary Suria Strategic Energy Resources Sdn Bhd (SSER).

Under the agreements, the Chinese firm contracted — China Petroleum Pipeline Bureau (CPPB) — was paid RM8.3 billion out of the total RM9.4 billion value despite only completing 13 per cent of the work.

However, Najib took to Facebook to defend the projects.

In a press statement, the Pekan MP said he was “confident” that all necessary process procedures and laws have been complied with in the negotiation and execution of the projects.

Najib added that the two pipeline projects will bring much economic benefit and energy security to Malaysia.

Furthermore, he stated that China had committed to importing goods worth US$2 trillion (RM7.95 trillion) over the next five years and had also rescued Malaysia’s oil palm smallholders.