Mahathir says he would halt, review China loans
PUTRAJAYA, Malaysia — Former Prime Minister Mahathir Mohamad says Malaysia will stop borrowing from China and review Chinese investments if his opposition grouping is elected in May 9 polls.
Mahathir warned in an interview with The Associated Press on Wednesday that Malaysia has borrowed a large amount of money from China and may not be able to repay it. He noted that Sri Lanka had to give China ownership of a port and other projects in return for debt relief.
“We feel that we will stop borrowing. We will try to renegotiate the terms of the borrowing. In the case of projects, we may have to study whether we would continue or we would slow down or we would renegotiate the terms,” he added.
Chinese investment in Malaysia includes the East Coast Rail Link project with an estimated cost of 55 billion ringgit ($14.1 billion), and a massive real estate project in southern Johor state.
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.