A Malaysian company that is a signatory in the East Coast Rail Link (ECRL) project contract with China has come under scrutiny, after it was revealed that the company's paid-up capital was only RM2.
The company - the Malaysia Rail Link Sdn Bhd - listed two senior Finance Ministry officials as shareholders. Official records state that the company was registered on Sept 26, 2016.
According to reports by New Straits Times and Bernama, Malaysia Rail Link was the signatory of the Engineering, Procurement, Construction and Commissioning agreement with Chinese Communication Construction Company (CCCC) and China Communications Construction Company (M) Sdn Bhd (CCCCM).
The CCCC, a company owned by the government of China, will build the ECRL at a reported cost of RM55 billion.