BPIMB reticent on bond deals

The silence surrounding the latest infrastructure bonds from Malaysia''s new infrastructure bank is deafening.

Malaysia has always found it hard to finance its infrastructure. It is not that the money is not there, rather the way the money has been raised, used and allocated has consistently raised eyebrows and caused concern.

Recent examples include the Bakun Dam fiasco, the UEM purchase of Renong shares and the government bailout of the Kuala Lumpur monorail project.

As a response to the chaotic way that infrastructure is financed in Malaysia, the government set up the Bank Pembangunan  Infrastruktur Malaysia Berhad BPIMB. In 1998 the bank was officially mandated to finance the country's infrastructure projects - many of which were stalled, delayed and mothballed due...

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