BN spokesman Rahman Dahlan issued a message, presumably aimed at the Malay community, claiming that BN had not “sold out” Malaysia to Beijing. In support of that he stated that “only” 65 billion ringgit had been invested by Beijing in Malaysia. He neglected to add that of that sum fifty billion was a “fake” loan to allow arch thief Najib to pay off his Aabar creditors over the 1MDB swindle.
That CPG loan was covered up by claiming that the cost of the proposed East Coast railway would be 50 billion whereas the actual probable cost would be half that, 25 billion. If, that is, it was ever built. No revenue estimates for such a railway have ever been released; probably because any such would not even begin to finance the loan.
Beijing knew that Najib would be facing an election soon after providing this loan. They also knew that if he didn’t get it at once he would be out on his ear. That would not suit Beijing as any other government in Kuala Lumpur would never agree to give the CPG the naval and military facilities and bases in Malaysia that Najib promised in order to get the money he needed.
Beijing is far from stupid. Their choice was plain. Ignore Najib’s plea for money and see him booted out of power; thus permanently blocking their aim of having bases in Malaysia or lend him just enough to stay in power and tell him to arrange to win the next election by whatever means he could. If he wins so does Beijing. If he loses they will have to look elsewhere for naval and military bases in the Indian Ocean. There are other candidates but less easily bought than Najib.