ECRL price may have been hiked to pay 1MDB debts, says Jomo

THE cost of the East Coast Rail Line may have been hiked to pay off debts from 1Malaysia Development Bhd, said former Council of Eminent Persons member Jomo Kwame Sundaram.

China’s Exim Bank was to finance 85% of the 688km railway track, with the Malaysian government paying the remaining 15% of the funding requirement, amounting to about RM8.25 billion.