CHINESE investors are growing wary of Malaysia’s plans to expand its ports to become Southeast Asia’s main shipping hub, The Straits Times reported today.

The report said China’s state-linked firms earmarked as partners in the projects have doubts about pouring billions into the oversupplied sector.

“Port Klang is already expanding despite not running at full capacity. It makes no sense to pursue both the Malacca Gateway and Carey Island Port so close to each other in the Malacca Strait,” said former Port Klang Authority (PKA) chairman Lee Hwa Beng.

At least three new port projects involving China and worth up to RM155 billion are in the works, including the RM100 billion Carey Island project near Port Klang.

The report also stated that the RM43 billion Malacca Gateway project may not take off because of uncertainty among Chinese partners.

Lee was also quoted as saying that China, although friendly to Malaysia, has other strategic interests and Malaysia cannot assume its ports are one of China’s top priorities. – May 8, 2017.