COUNCIL of Eminent Persons chairman Daim Zainuddin’s visit to China is to renegotiate contracts on behalf of Malaysia, said Prime Minister Dr Mahathir Mohamad.

He said the former finance minister will review Malaysia-China projects that were badly negotiated by the previous Barisan Nasional government.

“What he is trying to do is renegotiate the loans and contracts we have given to Chinese companies because we find that they are very constricting.

“Part of the money is not really needed. How do we deal with the part that we don’t need?” he told reporters at the Parliament lobby today.

The 93-year-old confirmed that he will make a trip to China next month, but said no dates have been set for the state visit.

Daim yesterday met with Chinese Prime Minister Li Keqiang and Foreign Minister Wang Yi in Beijing, following Putrajaya’s move to suspend the East Coast Rail Line (ECRL) project.

His trip comes as the Malaysian Anti-Corruption Commission raided companies linked to three projects with Chinese involvement – ECRL, the Multi-Product Pipeline and Trans-Sabah Gas Pipeline.

The contractor of the ECRL, a project mooted by the BN administration, is China Communications Construction Company.

Malaysia is also sending a delegation to Beijing to renegotiate the ECRL contract, as well as two gas pipeline projects under Suria Strategic Energy Resources Sdn Bhd. – July 19, 2018.