For Bersatu strategist Rais Hussin Mohamed Ariff, the East Coast Rail Link (ECRL) project is nothing but a sweetheart deal for China.

Like former finance minister Daim Zainuddin, Rais does not think that the ECRL project is an investment.

“It is a single track old train system built at the cost of RM55 billion with 3.25 percent interest rate to be paid in 240-month instalments after a seven-year grace period.

“China gets to loan out its huge reserves securely, dump off an old train system, get to sell their trains and its parts including even nuts and bolts and bring their staff,” Rais told Malaysiakini...