The new government has said some Chinese companies are now under suspicion of being used to cover up the graft scandal at state fund 1Malaysia Development Berhad (1MDB). Dr Mahathir has pulled out of a high-speed rail project with Singapore and is reviewing a US$14bil (RM55.8bil) local rail line to be built by Chinese companies. "With the comeback of Tun Dr Mahathir, I'm sure our industries will be very delighted to think positively of their engagement with Malaysia and its industries," Makio Miyagawa, Japanese Ambassador to Malaysia told Bernama. Financial industry executives expect Japan to accelerate its pace of investment in Malaysia under the new government. Dr Mahathir is scheduled to meet top officials from Nomura Securities and Sumitomo Mitsui Banking Corporation, among others.

Source: The Star June 10, 2018 06:56 UTC