THE action taken against China Petroleum Pipeline Engineering Ltd (CPP) is company specific and not against the country, said Finance Minister Lim Guan Eng.

“We are taking action against a company and not the country.

“The government has the duty to protect the country’s interest when a company’s actions do not benefit us,” said Lim during the question-and-answer session in Dewan Rakyat this morning.

Similarly, Malaysia has also filed a civil suit against Goldman Sachs, said Lim.

“But, this is not against the United States but the company. The countries will understand.”

Lim said the claims are made on the request of the Malaysian Anti-Corruption Commission (MACC).

He said negotiations between Suria Strategic Energy Resources Sdn Bhd, CPP and China Exim Bank are in progress.

“Negotiations between the Attorney-General’s Chambers and the Chinese government are also ongoing.”

Lim was responding to Chan Foong Hin’s (PH-Kota Kinabalu) on the government’s efforts to reclaim RM3.54 billion on the Trans-Sabah Gas Pipeline project.

Lim, who is also Bagan MP, said the negotiations depends on the due diligence to determine the actual cost of the work done.

“As negotiations is still ongoing, the exact amount of compensation or overpayment has not been finalised yet.”

Prime Minister Dr Mahathir Mohamad on Monday confirmed Malaysia had seized more than RM1 billion from CPP after the RM9.41 billion pipeline project was scrapped.

He said the China-based company had completed only 13% of the project but taken 80% of the money from the government as payment.

Earlier this month, the Pakatan Harapan government ordered banking giant HSBC to transfer funds held in CPP’s account in Malaysia to Suria Strategic Resources Sdn Bhd. – July 17, 2019.