1MDB scandal: China denies it offered to bail out Malaysian fund

Photo of 1MDB scandal: China denies it offered to bail out Malaysian fund
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Denial comes after Wall Street Journal report claiming China offered bailout in return for Belt and Road infrastructure contracts

Beijing has rejected a Wall Street Journal report saying Chinese officials offered to bail out scandal-ridden Malaysian state fund 1MDB and try to get the US and other countries to drop corruption probes into the fund.

The Journal, citing minutes of meetings between Chinese and Malaysian officials, reported on Monday that the offers were made in 2016. In return Malaysia offered China lucrative stakes in railway and pipeline projects for Beijing’s Belt and Road infrastructure initiative, the report said.

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