Dr M wants second Samurai bond issuance to proceed

  • Nation
  • Saturday, 07 Sep 2019

KYOTO, 7 Sept -- Perdana Menteri Tun Dr Mahathir Mohamad bercakap pada sidang media sempena lawatan kerja ke Kyoto hari ini. Turut bersama Timbalan Menteri Luar Datuk Marzuki Yahya (kiri) --fotoBERNAMA (2019) HAK CIPTA TERPELIHARA KYOTO, Sept 7 -- Prime Minister Tun Dr Mahathir Mohamad speaking during a press conference in conjunction with his working visit to Kyoto today. Also present Deputy Foreign Minister Datuk Marzuki Yahya (left). --fotoBERNAMA (2019) COPYRIGHTS RESERVED

KUALA LUMPUR (Bernama): Prime Minister Tun Dr Mahathir Mohamad wants the issuance of second Samurai bond to proceed.

Malaysia, according to Dr Mahathir, has received the approval from Japanese Prime Minister Shinzo Abe for the bond's issuance, but it was up to the Finance Ministry to continue the negotiations.

“It is up to the Finance Minister (Lim Guan Eng) because he manages (the Samurai bond). This time, Japan offers a lower interest rate of 0.5% compared to 0.63% on the previous Samurai bond, ” he told reporters during a press conference in Kyoto Saturday (Sept 7) that was telecast live over the Astro Awani news channel.

The Prime Minister arrived in Japan on Thursday (Sept 5) for a three-day working visit to Kyoto.

Regarding opinions from financial experts who described the government's move to issue new bonds as risky, Dr Mahathir responded that he had never agreed with experts.

"Some say it is dangerous for us to use the Samurai bond because it may go up, which is a possibility but if we do not change, we use loans with 6-7% interest rate, it will put pressure on us, ' he said.

The Prime Minister said he wanted to proceed with the issuance but will seek expert opinions on the matter.

"I wish to pursue this, but we have to listen to the opinions of the experts because I am not an expert... I am not even an economist... so my opinion on the economy is not correct, but somehow our country managed to be developed when I was the prime minister.

"However, we cannot take on debt from one source, we must have many sources because if the one source is problematic, we will have another (source)," he said.

Asked about the amount to be issued, Dr Mahathir said it would probably exceed the first issuance.

Malaysia issued its first round of Samurai bond in March worth 200bil Yen (approximately RM7.34bil) with a 10-year maturity. - Bernama

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