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Bloomberg
Malaysia has finally scrapped three China-backed pipeline projects after halting work on them following the shock elections in May that saw an opposition alliance assuming power for the first time in the country.
A finance ministry spokeswoman confirmed that the country has cancelled three China-backed pipeline projects. The Financial Times earlier cited Malaysian Finance Minister Lim Guan Eng saying he had sent a letter to “relevant parties†in Beijing to terminate the planned projects. The plans comprise two oil and gas pipelines that cost more than $1 billion each as well as a $795 million pipeline that would link the state of Malacca to a refinery and petrochemical plant in the state of Johor.