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BEIJING (Aug 21): Prime Minister Tun Dr Mahathir Mohamad said today Malaysia's proposed East Coast Rail Link (ECRL) and two gas pipeline projects will be cancelled due to the government's fiscal position.
Dr Mahathir said during a press conference with the Malaysian media here that the Chinese government understands the fiscal situation in Malaysia.
However, there will be compensation on the cancellation of these projects. "This is because of the stupidity of (former prime minister Datuk Seri) Najib (Tun Razak)," said Dr Mahathir on the compensation.
Dr Mahathir said the compensation amount will be negotiated by officials later.
Najib had not responded to Dr Mahathir's remarks at the time of writing. theedgemarkets.com could not immediately reach Najib for comment. — theedgemarkets.com
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