PM: Daim in China to renegotiate Putrajaya’s contracts with Chinese firms

Chinese Premier Li Keqiang looks at a letter given by Malaysia’s Prime Minister Tun Mahathir Mohamad during a meeting with Tun Daim Zainuddin in Beijing, July 18, 2018. — Reuters

(MMO) – 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.