KL denies oil deal report

Mon, 01 Dec 1997 | Source: REUTERS

KUALA LUMPUR (Reuters): Malaysian Prime Minister Mahathir Mohamad on Saturday quashed reports that Malaysia had sought US$8.8 billion from Taiwan in exchange for crude oil, the national news agency Bernama said.

Speaking to reporters on his return from the Asia Pacific Economic Cooperation (APEC) forum summit in Canada and a two-day working visit to Japan, Mahathir said it was just another rumor.

Taiwanese government spokesman David Lee on Friday also denied an unsourced newspaper report that Mahathir had asked for the money in exchange for Taiwan access to Malaysian crude oil during a surprise stopover in Taipei.

Singapore's Prime Minister Goh Chok Tong also made a similar visit, raising speculation Taiwan might come to the aid of Southeast Asia's battered economies.

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