Japan ready to support additional Samurai Bond issuance by Malaysia

From Noor Soraya Mohammad Jamal

TOKYO, May 31 (Bernama) -- The Japan Bank for International Cooperation (JBIC) is ready to consider further support if Malaysia wishes to issue additional Samurai bonds in the future, said Japanese Prime Minister Shinzo Abe today. 

This is following the successful issuance of 200 billion yen (about RM7.4 billion) Samurai bonds guaranteed by JBIC in March 2019, which is expected to help improve Malaysia’s fiscal sustainability and strategic resilience. 

Abe and Prime Minister Tun Dr Mahathir Mohamad held a bilateral meeting at the Prime Minister’s Office in Nagato-cho, Chiyoda-ku, here.

Responding to this, Dr Mahathir said this would enhance financial portfolios and minimise the foreign exchange risks for Malaysia. 

According to a joint statement on Malaysia-Japan cooperation, both prime ministers shared the view that the joint efforts and collaborations undertaken by both governments would contribute towards reinforcing the strategic partnership between the two nations.

The meeting also took note of comprehensive research for transport improvement in Malaysia which is currently underway by a Japanese team.

The research, covering land, sea and air transport, and both passenger and freight transport in scope, is progressing steadily and a final report is expected to be submitted in August.

The research would include suggestions for an optimal composition of different modes of transport and ways of making full use of the existing train network.

Its final report is expected to offer a prescription for improving the effectiveness of each mode of transport, namely rail, road, airport and port, and the interconnectivity among them.

Dr Mahathir also expressed his gratitude for the human resource training programmes for Malaysian railway engineers provided by JR Kyushu and JR Freight.

During the meeting, Malaysia and Japan also affirmed the steady progress made towards the establishment of a branch campus of a Japanese university in Malaysia.

University of Tsukuba has expressed a strong interest to establish its branch campus in Malaysia.

Once established, it would be the first Japanese university’s branch campus to be built outside of Japan.

Meanwhile, both prime ministers recognised the importance of promoting defence cooperation based on the existing agreement on the transfer of defence equipment and technology, as well as the memorandum on defence cooperation and exchanges.

Japan and Malaysia will also work together towards realising freedom, openness, prosperity and peaceful co-existence based on the rule of law in the Indo-Pacific region that stretches on both sides of the Straits of Malacca covering the South China Sea and the Indian Ocean.

In this regard, Dr Mahathir stressed the need for maintaining navigational safety in the Straits of Malacca and sought support from Japan.

He indicated Malaysia was also interested to learn the management and response to oil-spill incidents from Japan.

The prime minister, accompanied by his wife Tun Dr Siti Hasmah Mohamad Ali, left for Kuala Lumpur at 3.20pm local time, after finishing a three-day working visit to Japan.

-- BERNAMA