East Coast Rail Link and pipeline projects with China cancelled

[chittychitty]

"China understands our problem and agreed," Dr Mahathir said.

The Prime Minister said that the current priority for Malaysia is to reduce its debts and loans, according to New Straits Times.

"If we have to pay compensation, we have to pay. This is the stupidity of the negotiations before. We must find a way to exit these projects...this is our own people’s stupidity," said Dr Mahathir, according to the South China Morning Post.

https://www.straitstimes.com/asia/s...ojects-with-china-cancelled-says-malaysian-pm

 

[JohnTan]

.this is our own people’s stupidity," said Dr Mahathir, according to the South China Morning Post.

I'm glad that the Mad Hatter is humble enough to beg chinkland for mercy and admit that his m&d people are stupid.

 

[ynk2252]

Now if only some of the people who post here can do the same and admit their stupidity then the country will be better off.

 

[Reddog]

Now if only some of the people who post here can do the same and admit their stupidity then the country will be better off.

You know they are stupid when they are led by one, who failed to lead his own family.

 

[hairylee]

He wants to focus on his car project and the crooked bridge.

 

[Hypocrite-The]

Actually if the ah tiong rail link etc is finance by ah tiongs n uses a high degree of local m&d content. Why should such projects no go through?

 

[JustLikeThis]

Recent developments set me thinking, are we more afraid to raise our voice at Malaysia than China?

 

[AhMeng]

Lol...Which means HSR is also dead ...

 

[JustLikeThis]

Lol...Which means HSR is also dead ...

Seriously singapore really needs MRT to clear the congestion at Malaysian borders.
HSR is just for glam.

 

[syed putra]

I'm glad that the Mad Hatter is humble enough to beg chinkland for mercy and admit that his m&d people are stupid.

I think these projects were negotiated by jho low. Even tge interest rate in 2% above what others in china are paying. Emperor xi jinping dare not change anything as it may implicate him with najib in financial scandal. How much is the cancelation penalty? I heard it could be 30% of cost of project. In the pipelines, they have not even started yet but 80% of the money paid to contractors in china.

 

[virus]

Actually if the ah tiong rail link etc is finance by ah tiongs n uses a high degree of local m&d content. Why should such projects no go through?

signed by UMNO cronies for themselves, once it start, they will collect. now they need to space off the loans, pan out the thot how to remove the UMNO middleman nad assign to their own.

 

[hofmann]

Lol...Which means HSR is also dead ...

More like coma, but not yet brain dead. So cannot harvest organs yet.

 

[JohnTan]

I think these projects were negotiated by jho low. Even tge interest rate in 2% above what others in china are paying. Emperor xi jinping dare not change anything as it may implicate him with najib in financial scandal. How much is the cancelation penalty? I heard it could be 30% of cost of project. In the pipelines, they have not even started yet but 80% of the money paid to contractors in china.

The jiuhu east coast railway project is dead because it passes through the m&d heartland in the of rural pahang and terrenganu, where most of the people there are more concern with the islamic sharia law than they are with common sense and the protestant work ethic. Any major investment in those sort of society usually ends poorly. Afghanistan is another good example.

 

[eatshitndie]

they saw the 99-year lease clause in the contract where land would be ceded to prc if payments were not made on time (like in all other cuntries in odorous obor including vietnam), so they felt scared and screwed and shuttered the deal.