00:00The Ministry of Transport is reviewing an offer from Ocean Infinity from the United Kingdom,
00:07which was presented to the Ministry of Transport last June,
00:11to continue the sea-based search operation to detect the MH370 aircraft base
00:17in a new location estimated to be 15,000 square kilometres south of the Indian Ocean
00:24based on the No Fine, No Fee principle.
00:27According to the No Fine, No Fee principle,
00:30the Malaysian government does not need to issue any payment to this company
00:34if there is no aircraft base found.
00:37The location of the new search area proposed by Ocean Infinity
00:42is based on the information and analysis of the latest data
00:46made by experts and researchers referred by the company.
00:50The search operation offer by Ocean Infinity is a solid or credible offer
00:56and can be considered by the government as an MH370 aircraft registration country.
01:02Negotiations and agreements with Ocean Infinity are still being discussed
01:08and have not yet been concluded.
01:10Therefore, I can inform the audience that the cost requested by Ocean Infinity
01:17is the same as the cost they asked for 10 years ago,
01:21or the same as the cost they asked for 10 years ago in 2018,
01:26which is RM70 million.
01:28At that time, there was an agreement with the government,
01:31but they could not find the aircraft base.
01:34Therefore, there is no payment that has been paid to the company.
01:39And the same agreement or cost was requested in the same agreement draft
01:44that is currently being discussed between the government and Ocean Infinity.
01:49And if it is finalized and needs approval from the Cabinet,
01:54I will give an open statement.
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