WHO IS BETRAYING WHOM? UMNO RED SHIRTS SCREAM FOR BLOOD, 1MDB-INTENT NAJIB SAYS 'NI HOW MA'

China's generous 1MDB bid seen reaping big returns in Malaysia

China's CGN Group sweeps in to buy 1MDB power assets

* Deal is biggest foreign direct investment in Malaysia

* Beijing eyeing infrastructure deals in Malaysia

Dec 3 (Reuters) - A generous winning bid from a state-owned Chinese firm for a scandal-ridden Malaysian fund's power assets will help Beijing find favour as it seeks more deals in the country and to extend its influence in Southeast Asia, financial and diplomatic sources say.

The $2.3 billion offer from China General Nuclear Corp, a surprise winner in the bidding, and its assumption of $1.8 billion in 1MDB debt will result in Chinese firms having pole positions as key rail, port and road projects come up for grabs

"They are paying good value to solve a problem," he said.

..announced just hours after Najib and Chinese Premier Li Keqiang ended bilateral talks in KualaLumpur.

"Malaysia is strategically important for China because it...encircles the southern-most reaches of the South China Sea,"said Oh Ei Sun, senior fellow at the S. Rajaratanam School of International Studies in Singapore.

China to develop infrastructure along its so-called 21st Century Maritime Silk Road, which extends through the Malacca Strait to India, the Middle East and East Africa.

Key infrastructure projects that China has said its firms will bid for include a high speed rail project between Malaysia and Singapore that could be finalised next year. The project, estimated by local media as being worth more than $10 billion..

Chinese firms are also set to vie for contracts to upgrade Malaysian ports including one in Malacca, in the south and another in Kuantan, in the east, banking sources said.

My comments : I think there are more "udang di sebalik batu". First of all unlike Najib and friends, the Chinese are not stupid.

The buyer is the China General Nuclear Corporation. This is an energy company whose main thrust is nuclear energy.

"CGN's first nuclear station uses reactors designed and built by the French National Company, Framatome. Then it developed an improved PWR (pressurized water reactor) called CPR-1000[10] based on the French type. CPR-1000 is a fully Chinese designed and constructed reactor type which takes a large proportion in all the reactors being built in China, and is believed to be the company's best example of what the company has to offer. This has been developed into the Generation III Hualong One design

Operating stations: Daya Bay Nuclear Power Plant[12] and Ling Ao Nuclear Power Plant phase I.[13]

Under construction: Hongyanhe Nuclear Power Plant,[14] Ningde Nuclear Power Plant,[15] Yangjiang Nuclear Power Station,[16] Taishan Nuclear Power Plant[17] and Fangjiashan Nuclear Power Plant.[18]

Planned: Lufeng Nuclear Power Plant,[19] Xianning Nuclear Power Plant (entering early construction),[20] Wuhu Nuclear Power Plant[21] and Jiangsu's Second Nuclear Power Project[22]

I think CGN will eventually get a contract to build that nuclear power station that Najib has talked about before. Another RM40 billion? RM80 billion?

I just hope the safety features are really earthquake and disaster proof. No one in their wildest imagination could foresee Fukushima.

I have always been a great proponent of the Chinese coming into the country in a big way. Just join the Chinese bandwagon. Prosperity, Happiness, Long Life and Good Fortune.

But we must go in with our eyes open, at arms length and with no compulsion. Bukan sebab pemimpin sudah dekat nak nazak (near death).

We have to embrace this Maritime Silk Road the Chinese are already building. They are building a US$3 BILLION industrial park in Laos. If we miss this opportunity, it is most likely that Vietnam, Laos, Indonesia, Thailand will surpass us.

To the ketuanan folks, everything else has more or less failed ok. Wake up. Its already late. But better late than never. - http://syedsoutsidethebox.blogspot.my/