China Petroleum Pipeline Engineering (CPP), a unit of China’s state-owned oil and gas giant China National Petroleum Corp, has refuted a media report that money paid for its pipeline projects in Malaysia was diverted to third-party Cayman Islands companies involved in money laundering, South China Morning Post reports.  The country’s finance minister Lim Guan Eng said that the previous government, led by the recently defeated Najib Razak, had agreed to make payments on two Chinese-built oil and gas pipelines at a combined cost of over $2 billion, without paying attention to the projects’ progress. According to the Financial Times, the two three-year projects had only completed 13% of the total construction 12 months into development, yet 90% of the invoice had been paid by Malaysia’s government to the Chinese state-backed Petroleum Pipeline Bureau.