KUALA LUMPUR, July 19 — Council of Eminent Persons chief Tun Daim Zainuddin is in China to try and renegotiate loans and contracts that Putrajaya previously signed with firms there, Prime Minister Tun Dr Mahathir Mohamad said today.
The former finance minister is currently in Beijing along with other Malaysian officials and is in possession of an introduction letter from the prime minister.
“What he is trying to do is renegotiate (the deals), we find that they are costly and also part of the money is not really needed,” Dr Mahathir told reporters in Parliament today.
“We find the deals very constricting. Question is, how do we deal with the part that we don’t need,” he said.
Dr Mahathir previously said that his administration would study and re-evaluate all the mega project deals inked with China in recent years under the Barisan Nasional administration.
