Malaysia hopes to pay for military equipment with palm oil

Malaysia hopes to pay for military equipment with palm oilMalaysia is in talks with at last six countries on the possibility of using palm oil to pay for arms, as Southeast Asia’s third-biggest economy seeks to replace old equipment to boost its defence capabilities. Malaysia has struggled to update its defence equipment over the years and a cut in its defence budget this year all but derailed efforts to replace navy ships, some of which have been in service for 35 years or more. Costs have been a big hurdle but using palm oil to help pay for equipment could open new avenues to upgrade, Defence Minister Mohamad Sabu said on Monday.



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