Finance Minister Lim Guan Eng said today Malaysia has appointed Mizuho Bank (M) Bhd, HSBC Bank Malaysia Bhd and Daiwa Markets Singapore Ltd as lead arrangers for the nation's proposed 10-year ¥200 billion (about RM7.6 billion) Samurai bond issue.
Lim said the appointments will ensure the country enjoys the lowest possible cost of funds.
At a press conference here today, Lim said the appointments were made after six proposals were shortlisted from the 27 received by the Ministry of Finance (MoF).
Vehicle recalls are all the rage right now, and Hyundai and Kia are getting in on the action. While Ford, Toyota, and Lexus models have all been recalled due to the risk of Takata airbag inflators exploding, Hyundai and Kia have a different yet equally alarming problem–an increased risk of engine fires. According to the AP, the carmakers are recalling about 168,000 vehicles to fix a fuel pipe problem that can cause engine fires.
The extra fun part about this recall is that the fuel pipe problems stem from an earlier recall. Yes, they are recalling their recalled vehicles. The story goes like this: Back in 2015, Hyundai and Kia recalled 1.7 million vehicles due to an issue where manufacturing debris was potentially cutting off oil flow to the rod bearings, causing the engines to wear and fail, which in turn could lead to fires. To fix the problem, dealers had to replace the engine block, which is not cheap and, as it turns out, the repairs are also not easy. The companies are admitting that the engine replacements may have been allowing fuel to leak and hit hot engine parts, causing fires.
While no one has been injured so far, six fires have been reported on Kia models, while Hyundai says it has no fire reports. Neither company had any reports of injuries. Still, unless you want to play action star walking away from a blazing Kia, get your car checked if you drive these models:
2011 through 2014 Kia Optima cars
2012 through 2014 Sorento SUVs
2011 through 2013 Sportage SUVs
2011 to 2014 Hyundai Sonata cars
2013 and 2014 Santa Fe Sport SUVs
Double check here for Kia and here for Hyundai.
The companies say owners of the recalled vehicles will be notified by letter, but if you drive a Kia or Hyundai of any model or model year, it’s worth checking with the dealer about recalls and updates. The Korean automakers are both under investigation by the U.S. National Highway Traffic Safety Administration over the scope of recalls—or they were until the government shut down.