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Malaysia’s ‘fire sale’ to China!
1Malaysia Development Berhad (1MDB) Prime Minister Najib Razak has led his Umno-led Barisan Nasional (BN) federal government to a historic 14-agreement signing worth RM144 billion with China.
Eat your heart out Mr US President Barack Obama and your Department of Justice (DoJ).
The US has lost, if not all, its 21st Century Cold War with the China-Russia combo in the strive for allies and geo-economic political-military dominance in the South China Sea (SCS).
Here are some of the details reported from China:
"M’sia-China sign historic 14 agreements worth RM144b
November 1, 2016
PM Najib Razak says it is the biggest ever recorded with his official visit overseas and a historic achievement for both countries.
BEIJING: Malaysian and Chinese companies made history today with the signing of 14 agreements worth RM144 billion.
Prime Minister Najib Razak said the amount was the biggest ever recorded in conjunction with his official visit overseas, making it a historic achievement.
“My official visit to China this time has brought very encouraging results and this achievement brings the bilateral relations between Malaysia and China to a higher level, a new high,” he told Malaysian journalists here Tuesday.
Najib who is on a six-day official visit to China beginning Monday, witnessed the exchange of 14 business arrangements with proposed investments estimated at RM143.64 billion held at the Malaysia-China Business Forum here on Tuesday.
The agreements and memoranda of understanding comprise:
1.Engineering, Procurement, Construction and Commissioning Agreement between Malaysia Rail Link Sdn Bhd, China Communications Construction Company Limited (CCCC) and China Communications Construction Company (M) Sdn Bhd (CCCCM).
2. Memorandum of Agreement for Investment, Development and Construction of Melaka Gateway Project (KAJ Development and Power China).
3. Heads of Agreement between Bandar Malaysia Sdn Bhd and Greenland Holdings Group Overseas Investment Company Limited in respect of the Proposed Purchase of Land and Development thereon in Bandar Malaysia.
4. Heads of Agreement between Selat PD Sdn Bhd and CCCC Dredging (Group) Co Ltd.
5. Framework Cooperation Agreement between the State Government of Sarawak, Hebei Xinwuan Steel Group and MCC Overseas Limited on the Proposed Development of Steel Plant in Sarawak.
6. Memorandum of Agreement between KAJ Development Sdn Bhd, Power China, Shenzhen Yantian Port and Rizhao Port for partnership collaboration on Melaka Gateway Port.
7. Heads of Agreement for the Bandar Malaysia Financial Scheme between IWH CREC Sdn Bhd and Industrial and Commercial Bank of China (ICBC).
8. Memorandum of Understanding between East Coast Economic Region Development Council (ECERDC) and Wuxi Suntech Power Co Ltd for Production of Crystalline Silicon Solar Cells and Module within the Malaysia-China Kuantan Industrial Park.
9. Memorandum of Agreement between BHS Industries Bhd and China Nuclear Huaxing Construction Co Ltd for Green Technology Park in Pekan, Pahang, Malaysia.
10. Granting of banking licence to China Construction Bank (Malaysia) Bhd by the Minister of Finance under the Financial Services Act 2013. With an initial paid-up capital of USD200 million, China Construction Bank will be able to provide infrastructure financing to support Malaysia’s infrastructure development.
11. Memorandum of Understanding between Yanming Resources Sdn Bhd and Fuzhou Xin Zibu Culture Communication Co Ltd for the Growth and Development of Bird’s Nest Market in China.
12. Memorandum of Understanding between Malaysia External Trade Development Corp (Matrade) and Alibaba.com.
13. Research and Development Collaboration Agreement between Royal Bird’s Nest, Walet Company-International Private Limited Company and Peking University on Standardisation of Edible Bird’s Nest Extract and Medical Properties for Pharmaceutical Drug Discovery.
14. Memorandum of Understanding between Aladdin Group Sdn Bhd and Suzhou Lian Cheng Yihao Information Technology Co Ltd. - FMT"
"Malaysia and China sign deals on navy vessels
Reuters
November 1, 2016
The move marks Malaysia's first significant defence deal with China at a time of rising tension in the South China Sea.
BEIJING: Malaysia has agreed to buy four Chinese naval vessels and pledged with Beijing to handle South China Sea disputes bilaterally, a Chinese official said on Tuesday, in what could be China’s latest counter to US influence in the region.
The vessels are known as littoral mission ships, small craft that operate close to shore. Two will be built in China and two in Malaysia, Malaysian state media reported after a meeting between Chinese Premier Li Keqiang and his visiting counterpart Prime Minister Najib Razak.
Last week, Malaysia’s defence ministry said in a posting on social media that the country would sign a contract to purchase patrol vessels from China during Najib’s week-long visit that began on Sunday, but the post was later removed.
The move marks Malaysia’s first significant defence deal with China at a time of rising tension in the South China Sea.
“Leaders of the two sides agreed to further advance the proper settlement of the South China Sea issue with dialogue through a bilateral channel,” Chinese Vice Foreign Minister Liu Zhenmin told reporters at Beijing’s Great Hall of the People where Li and Najib met.
“Obviously the launching of naval cooperation between the two sides is significant for our bilateral ties. It’s a reflection of the very high level, mutual political trust between our two countries,” Liu said.
He gave no other details on the deal.
Littoral mission ships can be equipped with a helicopter flight deck and carry missiles. They are primarily used for coastal security, maritime patrol and surveillance, but can also be deployed for disaster relief and search and rescue operations.
China claims most of the South China Sea as its territory. But Brunei, Malaysia, the Philippines, Taiwan and Vietnam also have rival claims to parts of the waterway, which commands strategic sea lanes which carry some USD5 trillion worth of trade a year.
Najib’s visit follows that of Philippines President Rodrigo Duterte, who announced the country’s “separation” from the United States and signed a raft of memoranda of understanding for Chinese investment in the country.
The push to strengthen China ties comes after July lawsuits filed by the US Justice Department implicating Najib in a money-laundering scandal. Najib has denied any wrongdoing and said Malaysia will cooperate in the international investigations.
“I think there’s a mischaracterisation here. There’s no such thing as using our financial muscle to improve ties,” Liu said in response to a reporter’s question on the issue.
Both nations also signed deals for collaboration to build rail projects in Malaysia, which included the RM55 billion (USD13.2 billion) East Coast Rail Line.
Najib told Malaysian state news agency Bernama that both countries had made a historic achievement by signing 14 agreements totalling RM143.64 billion (USD34.4 billion). - FMT"
Reuters
November 1, 2016
The move marks Malaysia's first significant defence deal with China at a time of rising tension in the South China Sea.
BEIJING: Malaysia has agreed to buy four Chinese naval vessels and pledged with Beijing to handle South China Sea disputes bilaterally, a Chinese official said on Tuesday, in what could be China’s latest counter to US influence in the region.
The vessels are known as littoral mission ships, small craft that operate close to shore. Two will be built in China and two in Malaysia, Malaysian state media reported after a meeting between Chinese Premier Li Keqiang and his visiting counterpart Prime Minister Najib Razak.
Last week, Malaysia’s defence ministry said in a posting on social media that the country would sign a contract to purchase patrol vessels from China during Najib’s week-long visit that began on Sunday, but the post was later removed.
The move marks Malaysia’s first significant defence deal with China at a time of rising tension in the South China Sea.
“Leaders of the two sides agreed to further advance the proper settlement of the South China Sea issue with dialogue through a bilateral channel,” Chinese Vice Foreign Minister Liu Zhenmin told reporters at Beijing’s Great Hall of the People where Li and Najib met.
“Obviously the launching of naval cooperation between the two sides is significant for our bilateral ties. It’s a reflection of the very high level, mutual political trust between our two countries,” Liu said.
He gave no other details on the deal.
Littoral mission ships can be equipped with a helicopter flight deck and carry missiles. They are primarily used for coastal security, maritime patrol and surveillance, but can also be deployed for disaster relief and search and rescue operations.
China claims most of the South China Sea as its territory. But Brunei, Malaysia, the Philippines, Taiwan and Vietnam also have rival claims to parts of the waterway, which commands strategic sea lanes which carry some USD5 trillion worth of trade a year.
Najib’s visit follows that of Philippines President Rodrigo Duterte, who announced the country’s “separation” from the United States and signed a raft of memoranda of understanding for Chinese investment in the country.
The push to strengthen China ties comes after July lawsuits filed by the US Justice Department implicating Najib in a money-laundering scandal. Najib has denied any wrongdoing and said Malaysia will cooperate in the international investigations.
“I think there’s a mischaracterisation here. There’s no such thing as using our financial muscle to improve ties,” Liu said in response to a reporter’s question on the issue.
Both nations also signed deals for collaboration to build rail projects in Malaysia, which included the RM55 billion (USD13.2 billion) East Coast Rail Line.
Najib told Malaysian state news agency Bernama that both countries had made a historic achievement by signing 14 agreements totalling RM143.64 billion (USD34.4 billion). - FMT"
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