MALAYSIA will review business contracts with all countries to ensure they are in her best interest, said Prime Minister Dr Mahathir Mohamad.

“Malaysia will maintain friendly relations with all countries of the world. We will be free to be criticised and to criticise other countries.

“Secondly, with regard to all those contracts, we will review them to see how they favour us. We want to benefit from those contracts. Whatever decision we make will be based on a study,” he said after naming ministers for three core cabinet portfolios today. 

The Pakatan Harapan chairman was responding to questions on the government’s review of foreign-funded projects, such as the the KL-Singapore High-Speed Rail and those under China’s Belt and Road initiative.

As part of its election manifesto, PH promised to review contracts of Chinese investments, including the RM55 billion East Coast Rail Link (ECRL).

Chinese-funded projects include major port and rail projects, with Citibank estimating Malaysia was slated to receive as much as RM400 billion in Chinese investments over the next two decades.

Under the previous government, Malaysia last year became the fourth-largest recipient of China’s overseas direct investment, according to the Economist Intelligence Unit. The ranking is a dramatic rise from country’s 20th place in the 2015 ranking. – May 12, 2018.