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Malaysia in transition

China denies report of bailout offer for Malaysia's troubled 1MDB fund

Lucrative stakes in rail and pipeline projects offered in exchange, according to WSJ

1MDB is the subject of corruption and money laundering investigations in at least six countries.   © Reuters

KUALA LUMPUR (Reuters) -- China on Tuesday rejected a Wall Street Journal report that said Chinese officials had offered to bail out scandal-ridden Malaysian state fund 1MDB and try to get the United States and other countries to drop their 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 "One Belt, One Road" infrastructure initiative, the report said.

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