Dr Mahathir met China’s president Xi Jinping, premier Li Keqiang and chairman of the Standing Committee of the National People’s Congress of China, Li Zhanshu yesterday (Aug 20).
“We must find an exit from the projects at lowest cost possible. We will have to pay compensation. This is our own people’s stupidity; we can’t blame the Chinese for that,” said Dr Mahathir when asked about compensation for cancelling the projects.
“This is stupidity of the negotiation before. There must be exit clauses in all agreements and the exit clauses must be fair for both parties.
“He (Datuk Sri Najib Razak) is the one…I never see a contract (like this before), that money (is) paid before the work (gets) done….What kind of stupidity of this, (you need) to pay on time, without any conditions that work must be done,” Dr Mahathir commented.
The money that has been drawn down from the loans extended to the three projects, is not in proportion to the work in progress. “So, we need (to) find out why the money (was) paid and no work done. All negotiation will be done by our people,” Dr Mahathir said.
“We will recover the money from Najib,” he added, when asked how the government would pay back the sum that has been drawn down.
The three projects, namely ECRL, multi-product pipeline in Malacca and Trans-Sabah Gas pipeline which were undertaken by the Barisan-Nasional government, have been under scrutiny after Pakatan Harapan gained controlled of Putrajaya.
The new government has put a stop work notice to the three projects, after they had discovered that the project costs have bloated to unjustified levels. Such high cost of infrastructure projects would further strain the country’s fiscal position.
Don’t forget hsr soon to be cancelled as well Wait until the official notice come out Collect at 0.70-0.76 la Can just sapu all Now keep in view first dont ever to catch the falling knife
RIP. Sleep well and have a good 'dream'. Please come again shout scream when price manipulate. Those bought above RM1.00 yesterday don't worry leave it and just wait if don't want cut loss. But those bought way long time ago around RM1.40. Well best of luck! Biggest enemy now is TIME
tahu apa tu tauhu goreng? menjilat jari....ayooo newbie manala rakuten tahu tauhu goreng oldman mau ciakap itu maciam. masam mencuka, mau cancel ecrl,dan gaspipeline...kikiki
News out caught many by surprise.. when the contra P3,4;5 time is up...more panic selling..no need to hurry to buy... sure will drop further...Thursday will open gap down when IDSS is enabled again....if crocs are interested to buy, they will want to buy at lower and not at higher prices.
talk like pro.. haha.. have a check probably on press been done by mahathir.. project will be defer and it is not cancel.. or find method to reduce the cost
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Posted by Maurice1688 > 2018-08-21 14:54 | Report Abuse
no more big project for hss