Pua said the Industrial & Commercial Bank of China (ICBC) had facilitated the laundering of 1MDB funds and the transfers were done entirely in Chinese currency.
“The transactions were obviously meant to circumvent anti-money laundering detection of US dollar transfers in the light of international scrutiny over 1MDB.
“We urge the government and Foreign Minister Hishammuddin Hussein to seek official assistance from the Chinese government to investigate the allegations,” he said.
Pua alleged that the then government had signed Phase I and Phase II of the East Coast Rail Link (ECRL) project with a total value of RM55 billion with China Communications and Construction Company (CCCC).
He claimed that by June 2017, Malaysia had paid CCCC RM1,931.4 million and another 17,320 million yuan through a loan from China Exim Bank.
He said the funds passed from the government to International Petroleum Investment Corporation of Abu Dhabi (IPIC) via China, Hong Kong, Kuwait and Malaysia.
Last month, Sarawak Report exposed a money trail from the Chinese companies to “purchase” a 1MDB property in Penang.
Pua said that based on the report, the trail showed billions of yuan “shifting hands”.
Sarawak Report noted that on Aug 28, 2017, a total of 7,279,500,000 yuan was transferred from Multi-Strategic Investments Limited, Hong Kong (MSIL) to Al-Asbah International General Trading, Kuwait.
MSIL is a wholly-owned subsidiary of Zhen Hua Engineering Co Ltd, which in turn is a wholly-owned subsidiary of CCCC.
The report said that on the same day, another 7,279,500,000 yuan was transferred from Al-Asbah International General Trading to the personal account of its sole shareholder, Sheikh Sabah Jaber Al-Mubarak Al-Hamad Al-Sabah.
Two days later, 4,253,000,000 yuan was transferred from Sheikh Sabah to Silkroad Southeast Asia Real Estate Limited.
On the same day, another 4,253,000,000 yuan was transferred from Silkroad Southeast Asia to Sentuhan Budiman Sdn Bhd, a wholly-owned subsidiary of the finance ministry holding the 1MDB Air Itam land.
Also on Aug 30, 2017, it said, Sentuhan Budiman allegedly transferred 1,950,000,000 yuan to IPIC in Abu Dhabi as part of 1MDB’s debt repayment agreement.
The report said that between September 2017 and March 2018, the balance of the receipt in Sentuhan Budiman was used to service the interest of other 1MDB debts.
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