Malaysia suspended three of its largest China-backed projects worth $22 billion on Thursday. The projects in question are the $20 billion East Coast Rail Link and two pipeline projects that cost more than $1 billion apiece.
The suspension came just a day after Malaysia Finance Minister Lim Guan Eng called for a sharp price reduction to the 428-mile East Coast Rail Link, after discovering that the project’s actual cost is $20 billion (81 billion ringgit), nearly 50 percent higher than what was estimated by the previous government.
