Malaysia-China trade, investments unaffected by ECRL suspension

PETALING JAYA: Any decision taken in relation to the controversial East Coast Rail Link (ECRL) will not affect trade and investment relations between Malaysia and China, says Minister of International Trade and Industry, Darell Leiking.

"There is still good trade relations with China, as well as all other nations.

"Malaysia is still the main hub that everybody wants to engage with," he told reporters here today after attending a "Tech Tarik Talk" session with industry players on Industry Revolution 4.0.

Leiking noted that a lot of industries in Malaysia were supplying products to the world.

"There are several components that are manufactured in Malaysia and exported later which are needed all over the world.

"That means that we are really important components of the entire world," he said.

Previously, it was reported that Malaysia Rail Link Sdn Bhd had notified China Communications Construction Company (CCCC), the contractor for the ECRL project, to suspend work on the 688.3-km railway project on the grounds of national interest.

The suspension came a day after the Finance Ministry disclosed that the final cost of the ECRL project was RM81 billion and that CCCC needed to reduce the construction cost significantly to make it viable financially.

The project was approved by the previous government on Oct 21, 2016 while the engineering, procurement, construction and commissioning agreement was signed with CCCC on Nov 1, 2016.- Bernama

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!


Next In Business News

Inflation may re-emerge on review of subsidies, but reforms much-needed - SERC
Ringgit lower against US dollar for third consecutive day
PUB acquires carpet manufacturer for RM2.5mil
Vizione gets RM490mil turnkey contractor job
Bursa Malaysia Derivatives to launch its first currency futures on Dec 11
Public portion of Critical Holdings's IPO oversubscribed by 88.08 times
Govt to launch electric motorcycle use scheme tomorrow - Tengku Zafrul
KL shares close lower in line with regional peers
Bank Negara’s international reserves higher at US$112.3bil
Bitsmedia raises US$20mil in latest round of funding

Others Also Read