00:00On 13 December 2024, the Cabinet has agreed in principle to accept the proposal from Ocean
00:12Infinity United Kingdom to proceed with seabed search operations to locate the wreckage of
00:20Flight MH370 in a new area estimated at 15,000 square kilometres in the southern Indian Ocean.
00:28This endeavour will be based on the no fine, no fee principle. Under this principle,
00:35the Malaysian Government would not be required to pay Ocean Infinity any fees unless the wreckage
00:41of the aircraft is discovered. The proposed new search area identified by Ocean Infinity
00:49is based on the latest information and data analysis conducted by experts and researchers.
00:56The company's proposal is credible and merits further examination by the Malaysian Government
01:02as a state of registration for MH370. The Ministry of Transport is currently negotiating the terms
01:10and conditions of the agreement with Ocean Infinity, which is expected to be finalised
01:15in early 2025. These decisions reflect the Malaysian Government's commitment to continuing
01:22the search operation and providing closure for the families of MH370 passengers.
01:52Of course, the contract will last for 18 months and all the other terms and conditions will be
01:59finalised. Right now, it is being brought to our AG Chambers to vet through the contract
02:07before it can be finalised and signed. Yes, the cost is still the same. It is
02:16USD70 million if the wreckage is found.
03:16you
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