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Tuesday, June 18, 2019

Guan Eng to visit China, Panda bond discussion on agenda



Finance Minister Lim Guan Eng is scheduled to visit China for the first time since Pakatan Harapan came into power more than a year ago.
A government source said his visit will be during the first week of July, which coincides with the opening of the second session of the Dewan Rakyat sitting this year.
The "Panda bond", which was offered by China to assist Putrajaya's repayment of the national debt, is expected to be part of the bilateral discussion.
“It's an official trip. Panda bond will be one of the many issues to be discussed,” the source told Malaysiakini on condition of anonymity.
However, the source did not reveal the other issues on the agenda.
In February, China's Ambassador to Malaysia Bai Tian revealed the proposal to issue Panda bonds for Malaysia to help with the country's finances.
Three months later, Lim said Putrajaya was still undecided on the offer.
Despite China entering into major investments in Malaysia, such as the East Coast Rail Line (ECRL) which comes under the Finance Ministry, Lim was not appointed as a key person in re-negotiating the projects with China.
Instead, Prime Minister Dr Mahathir Mohamad appointed Daim Zainuddin to lead the re-negotiation team, saying that the former finance minister was a qualified person and accepted by China.
Later, Lim supported Mahathir's statement, describing Daim as the "best negotiator".
The finance minister was not part of the entourage during Mahathir's last two trips to China. - Mkini

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