Sunday , May 22 2022

Samurai bonds, review of China-supported projects will not affect the China-China band, "said Tan-Nation.


SEPANG: The review and cancellation of several Chinese linked megaprojects in Malaysia and the issue of "Samurai Bonds" by the Japanese government will not affect bilateral relations between China and Malaysia, says Malaysia's special envoy to China Tan Kok Wai.

"Based on my observations, the requests received from Chinese companies that want to invest here in recent months have been huge," he told reporters after launching a tree-planting campaign at the Xiamen University Malaysia campus on Sunday (Nov. 11).

He said these companies were from different sectors, including high technology, e-commerce and agriculture.

"They want to know more about the Malaysian market. We've been busy helping them," he added.

Tan said that his team also elaborated guidebooks for these companies to learn more about the local market and rules.

"The overall relationships are not affected by the review of any projects.

"As Prime Minister Tun Dr Mahathir Mohamad mentioned, in addition to learning from Japan, Look East Policy (2.0) also includes South Korea and China," he said.

"Remember that Dr. Mahathir's first official visit after he was sworn in as the prime minister to China. The good relations between Malaysia and China can be traced back a few hundred years ago," he said, adding that Malaysia is the first South-East country to establish a diplomatic relationship with China back in 1974.

Tan answered a question as to whether the issue of samurai bonds that will be guaranteed by the Japanese government would affect relations between Malaysia and China.

Japan is often seen as a competitor to China, as both countries devote themselves to dominance in Southeast Asia.

When the Government of Lim Guan Eng presented the budget in 2019, the Japanese government revealed that they had offered to guarantee up to 200 cars for the issuance of 10-year samurai bonds through the Japan Bank of International Cooperation (JBIC) with an indicative 0.65% coupon rate March next year.

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