The suspension of the East Coast Rail Link (ECRL) project has not deterred contractor China Communications Construction Company (CCCC) from continuing to prioritise the Malaysian market in its overseas venture.

In an interview at the company's headquarters in Beijing on Sept 21, CCCC vice-president Sun Ziyu revealed on the expansion plan into property development in Malaysia, particularly along the 688km ECRL project that spans from Port Klang to Pengkalan Kubor in Kelantan.

"Malaysia has always been our preferred market outside China. We prioritise Malaysia in terms of our resources, funds, business models and innovations," he told the Malaysians journalists.

Such position never changed in the past, even when the region and the world were hit by financial crisis, he said.

"Moving forward, CCCC is transforming itself from being an EPCC (engineering, procurement, construction and commissioning) contractor to an investor, developer, as well as an operation service provider.

"We are actively seeking investment opportunities to help develop Malaysia. For example, we are exploring transit-oriented development (TOD) along the ECRL.

"We plan to invest in targeted industries along the ECRL, and lead investments from China and other countries as well. Besides infrastructure development, we also hope to participate in other fields," said Sun, who is also a chartered engineer.

"We are now focusing on the Belt and Road Initiative (BRI), and we are participating aggressively in the development of townships.

"We are willing to invest in several localities along the rail line (ECRL)... By this, I believe it will encourage the investment from China and other countries," he added.

According to Sun, CCCC, which entered the Malaysian market in the 1980s, is currently working on over 20 infrastructure projects, of which more than 10 projects are concentrated in Kuala Lumpur. 

The company is also the sub-contractor for LRT3 project, which was given the green light by Harapan government, slashing the total cost to RM16.63 billion.

CCCC was also shortlisted as the contractor for MRT3 before the project was cancelled by the government.

Meanwhile, Sun also cleared the air surrounding the 85 percent loan given by China's Exim Bank, which in return, the Chinese government nominated CCCC as the contractor. 

"ECRL is a project financed by preferential loans, and it is not an investment project. It is essentially a project financed by a low-interest loan from the Chinese government and the government will subsidise the bank to do that," he said.

“Since the Malaysian government needs to provide a sovereign guarantee for such loan, its national debt will increase.

"The fact that the project is financed by a preferential loan demonstrates the friendship between the two countries and bears great long-term significance for the economy and society of the host country," he added.