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Friday, June 23, 2017

View China investments rationally, says Zeti

Former Bank Negara governor Zeti Akhtar Aziz has called for a rational view of China's investments in Malaysia, amid concerns that national interests are being undermined and sold to the eastern superpower.
"Investments from China only account for 2 percent of Malaysia foreign investment. The rest are from US, Europe, Japan, and Korea.
"We must analyse this in a rational manner. As an economist, I will analyse it by case study," Zeti said in an interview with Sin Chew Daily.
China investments in Malaysia have been in the spotlight lately and is a hot topic among opposition leaders who claim that the government is selling the country off to cover its debts.
Commenting on this, Zeti said, "I don't know what their motive is, what I see is only the data."
She added investments from China could benefit the country if the money was pumped into the productivity and infrastructure sectors.
"But if the investment goes to the property sector, you must evaluate it," she said.
Property deals under spotlight
Among the China investments that are under public scrutiny include the Forest City project - a sprawling development in southern Johor whose clientele is almost exclusively from China.

Meanwhile, China's Dalian Wanda group is also touted to be a frontrunner for the master developer of Bandar Malaysia, a project deeply linked to 1MDB.
Besides this, the government has also been criticised for the 49.9 percent sale of national carmaker Proton to China's Zhejiang Geely Holdings Group.
Former premier Dr Mahathir Mohamad had lamented the sale saying soon, the whole country would be sold.- Mkini

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