Malaysia suspends multi-billion dollar China-backed deals

Malaysia suspends multi-billion dollar China-backed dealsMalaysia said Thursday it has suspended three major China-backed projects worth billions of dollars, the latest big-ticket items to be axed by the new government as it reviews deals signed by ousted prime minister Najib Razak. The deals were among several Beijing-backed projects signed by scandal-hit Najib, who was unseated by his former mentor Mahathir Mohamad in elections last May. Finance Minister Lim Guan Eng said he had ordered the suspension of two pipeline deals and a 688-kilometre (430-mile) rail link worth a combined 90.4 billion ringgit ($22.35 billion).


Source: Yahoo! News