KL may refinance loans

KL may refinance loans

KUALA LUMPUR (Dow Jones): The government may refinance its
expensive loans with cheaper ones, First Finance Minister Daim
Zainnuddin said Saturday.

"For every loan, if it is expensive and there are cheaper
loans, we take the cheaper one ... (and) pay the expensive one
(off)," he was quoted as saying by Bernama news agency.

Malaysia recently refinanced a five-year syndicated loan of
US$1.35 billion.

Daim said the government hasn't decided who will represent
Malaysia at the upcoming informal summit meeting of leaders of
the Association of Southeast Asian Nations Nov. 24-28 in Manila.
Finance ministers of the member countries will also meet.

Malaysia is holding general elections Nov. 29.

Daim said Second Finance Minister Mustapa Mohamed and Bank
Negara Governor Ali Abul Hassan Sulaiman usually attend
international meetings.