CHINA-MALAYSIA: MALAYSIA CANCELS US$ 10.5 BILLION MEGA HARBOUR DEVELOPMENT PROJECT

Caixin reported (November 21) that Malaysia’s state government of Melaka has terminated a $10.5 billion worth agreement with a local developer who partnered with three Chinese companies over a sea reclamation project involving the building of a mixed harbour development, including three man-made islands, in the strategic Malacca Strait. The Melaka government said in a statement (November 16) that the termination was due to the agreement, which was signed in 2017, having expired on October 3. However, the local developer, KAJ Development Sdn. Bhd. was quoted by the local newspaper, Harian Metro., as saying the Melaka government had found the companies were “found to have failed in completing the project.” 







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