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Malaysia won't be China's puppet, ACCCIM insists

Published:  |  Modified:

The Malaysian Chinese business community has rebutted claims that Malaysia will become China's puppet by giving contracts to China.

As a free economic market, Malaysia welcomes foreign investments, Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) president Ter Leong Yap said.

"How is it possible? We have a lot of projects that were open tendered. Foreign investments are important to our country, we should welcome them. Other than China, we also welcome Japan, Korea and Taiwan, etc," Ter is quoted as saying by Sin Chew Daily today.

Ter is also a member of Prime Minister Najib Abdul Razak’s delegation to China.

"We should view it with an open heart. We are an open economic market, a free trade country under the WTO that relies on foreign investments and we must welcome investments, while local entrepreneurs also must have the competitiveness," added Ter.

Former prime minister Dr Mahathir Mohamad has warned that several deals being inked by Prime Minister Najib Abdul Razak with China may end up threatening Malaysia's sovereignty.

This, he said, includes Malaysia's territorial claim in the South China Sea, which is also being claimed by China.

In particular, Mahathir expressed concern over the country's loan of RM55 billion from China to construct the East Coast Rail Link (ECRL).

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