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=MALAYSIA PRESS: News Headlines On Monday, March 25

KUALA LUMPUR (Mar 25) -- Here’s a roundup of local news:

*Malaysia To Finalize Deal On China-Backed Railway Project Early April

Malaysia will finalize talks with China in early April regarding a $20 billion rail project that has been suspended since July last year, the Malaysian representative for the negotiations said. The renegotiations could result in cost savings of more than 10 billion ringgit ($2.5 billion) for Malaysia, the country’s envoy for the discussions, Daim Zainuddin said. China representatives have extended an invitation to Malaysia for a visit on April 2 to conclude negotiations on the East Coast Rail Link in the first week of next month. - Reuters

*EU Palm Oil Ban: PM Issues New Warning

After having warned the European Union that Malaysia would retaliate if it continued with its ban on Malaysian palm oil, Prime Minister Mahathir Mohamad said one of the retaliatory measures could be the country switching to China for fighter jets. "If they keep on taking action against us (banning our palm oil), we will think of buying airplanes from China or any other country," he said. Mahathir, however, stressed that he was not “declaring war” on the EU as the country still needed goods from the union. - Bernama

*Malaysia Seizes Low's Family Mansion, Reports Say

Malaysian authorities have seized a mansion believed to belong to the family of Low Taek Jho in connection to investigations into 1Malaysia Development, news reports said. A notice of seizure dated Jan. 17 was posted on the front wall of the house in Penang state, and addressed to a person who bears the same name as Low’s mother Goh Gaik Ewe, the paper reported. The notice was issued under Malaysia’s anti-money laundering and anti-terrorism financing law, the reports said. - Bloomberg News

- By Kuala Lumpur Newsroom; kleditorial@nikkeinewsrise.com; +60320267363
- Edited by Glen Nicol Perkinson
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