| China Communications Construction Company, the new owner of Australian engineering group John Holland, has denied involvement in an alleged plot to cover up a multi-billion-dollar corruption scandal at Malaysian sovereign wealth fund 1MDB by inflating a railway contract.
The allegations were published last week by London-based Sarawak Report, which was subsequently repeated by Asian media outlets. Then-treasurer Joe Hockey allowed CCCC to buy John Holland from Leighton Holdings for $853m in April last year, even though the World Bank has banned the Chinese giant from work on its projects until next year due to “fraudulent practices”...............................................Full Article: Source
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