The deferment of the Kuala Lumpur-Singapore High-Speed Rail (HSR) project involved no compensation costs, reported Bernama citing Senior Minister cum International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali.
This comes as both Singapore and Malaysia mutually agreed to the deferment.
Azmin, who leads the Malaysian team in the HSR discussion, said both teams from Singapore and Malaysia would meet again to further discuss the project’s technical aspects.
“In principle, we’ve agreed that this particular project is beneficial to both countries, but we need to sit down and discuss the technicalities of this project,” Bernama quoted him as saying at Miti’s 2019 Excellence Awards ceremony.
Read what is HSR and what would it mean for Malaysia?
“So, we need more time. If we can conclude the whole exercise within three to four months, certainly we will meet again.”
This is the second time that the 350km-long HSR project has been suspended, with Malaysia paying Singapore S$15 million (RM46 million) for costs during its first deferment in September 2018.
“The mandate given to us when we deferred the project in 2018 until 2020, was to look again at the costing of the project (such as) new alignments and new design,” said Azmin.
“Alhamdulillah, we’re able to reduced (the cost) substantially for HSR, but now we have agreed to continue the project (to resume after being deferred the first time).”
On 31 May, both countries agreed to defer the project’s construction again until 31 December 2020.
On whether Malaysia has enough fund to pay an additional cost that may arise from the second deferment, Azmin revealed that the issue on project funding will be discussed again given Malaysia’s limited fiscal ability now.
Check out these latest project reviews today! Or read our helpful Guides to learn all about the various property buying, selling and renting tips!
