ECRL price may have been hiked to pay 1MDB debts, says Jomo


Bede Hong

Professor Dr Jomo Kwame Sundaram says that although the railway track to benefit freight transport in the east coast of the peninsula was a 'noble' concept, the project was never financially feasible from the outset. – The Malaysian Insight file pic, September 14, 2018.

THE cost of the East Coast Rail Line may have been hiked to pay off debts from 1Malaysia Development Bhd, said former Council of Eminent Persons member Jomo Kwame Sundaram.

China’s Exim Bank was to finance 85% of the 688km railway track, with the Malaysian government paying the remaining 15% of the funding requirement, amounting to about RM8.25 billion.


Effective July 2018, access to full reports will only be available with a subscription. Sign-up now and enjoy one (1) week free access!

Subscribe Now!


Sign up or sign in here to comment.


Comments


  • Our 1MDB debacle was greed driven stupidity to the nth degree, no thanks to our desperate "smart" leaders

    Posted 5 years ago by Roger 5201

  • Ecstasy

    Posted 5 years ago by Nels Djee

  • I agree with Jomo

    Posted 5 years ago by Sabah One

  • Najib will be the 1st Malaysian PM to face a jail term. Congratulations Najib.

    Posted 5 years ago by Sabah One