HSR waited for two years; Malaysia saved penalty payment to Singapore: report, Singapore news and top stories



KUALA LUMPUR – Malaysia and Singapore reportedly agreed on the postponement of the HSR Singapore-Kuala Lumpur project, which is expected to be formally announced this week.

The compromise, achieved "in a spirit of good neighborliness", will ensure that Malaysia is spared paying a RM500 million (S $ 168 million) fine for delaying the project, reported The Edge in its September 3 issue , stating sources.

According to the business publication, the link of 350 km will be postponed for two years until May 31, 2020.

Last Thursday (August 30), the Hungarian Transport Minister, Khaw Boon Wan, said on Facebook that he had met the Malaysian Minister of Economic Affairs, Azmin Ali, and that they "brainstormed on ideas to promote our bilateral relationship".

"We must soon be able to jointly announce our decisions on RTS and HSR," added Mr. Khaw, who is also coordinating Minister of Infrastructure, referring to the Rapid Transit system from Johor Baru-Singapore.

Datuk Seri Azmin had also referred to the meeting on Facebook and said that the countries "walked closer to a win-win deal on HSR".

Malaysian Prime Minister Mahathir Mohamad had announced in May that the newly elected government of Pakistan Harapan wanted to delete the railway between the two cities, which was originally planned for completion in 2026.

Malaysia later softened its position by saying that it would negotiate with Singapore and seek a postponement of the project.

According to Kuala Lumpur, the project would cost RM110 billion, an expense that it is reportedly unable to pay because it deals with RM1 trillion of government debt.

The source told The Edge that Singapore acknowledged the tension of building the project on Malaysia's financial health.

Mr Khaw revealed in July in Parliament that Singapore had already spent more than S $ 250 million on the HSR project and is likely to spend another S $ 40 million towards the end of the year.

According to The Edge, the original deal to build the HSR, which was signed in 2016, did not contain provisions for postponement.

Malaysia would have imposed RM500 million in sanctions if it had decided to terminate the project in violation of the agreement, the report said.

It was expected that the rail link would shorten the travel time between the two cities by four hours by car, currently to 90 minutes. The line had eight stations: the Jurong East station in Singapore, and the Malaysian side, Bandar Malaysia, Sepang-Putrajaya, Seremban, Melaka, Muar, Batu Pahat and Iskandar Puteri stations.


Source link

HSR waited for two years; Malaysia saved penalty payment to Singapore: report, Singapore news and top stories



KUALA LUMPUR – Malaysia and Singapore reportedly agreed on the postponement of the HSR Singapore-Kuala Lumpur project, which is expected to be formally announced this week.

The compromise, achieved "in a spirit of good neighborliness", will ensure that Malaysia is spared paying a RM500 million (S $ 168 million) fine for delaying the project, reported The Edge in its September 3 issue , stating sources.

According to the business publication, the link of 350 km will be postponed for two years until May 31, 2020.

Last Thursday (August 30), the Hungarian Transport Minister, Khaw Boon Wan, said on Facebook that he had met the Malaysian Minister of Economic Affairs, Azmin Ali, and that they "brainstormed on ideas to promote our bilateral relationship".

"We must soon be able to jointly announce our decisions on RTS and HSR," added Mr. Khaw, who is also coordinating Minister of Infrastructure, referring to the Rapid Transit system from Johor Baru-Singapore.

Datuk Seri Azmin had also referred to the meeting on Facebook and said that the countries "walked closer to a win-win deal on HSR".

Malaysian Prime Minister Mahathir Mohamad had announced in May that the newly elected government of Pakistan Harapan wanted to delete the railway between the two cities, which was originally planned for completion in 2026.

Malaysia later softened its position by saying that it would negotiate with Singapore and seek a postponement of the project.

According to Kuala Lumpur, the project would cost RM110 billion, an expense that it is reportedly unable to pay because it deals with RM1 trillion of government debt.

The source told The Edge that Singapore acknowledged the tension of building the project on Malaysia's financial health.

Mr Khaw revealed in July in Parliament that Singapore had already spent more than S $ 250 million on the HSR project and is likely to spend another S $ 40 million towards the end of the year.

According to The Edge, the original deal to build the HSR, which was signed in 2016, did not contain provisions for postponement.

Malaysia would have imposed RM500 million in sanctions if it had decided to terminate the project in violation of the agreement, the report said.

It was expected that the rail link would shorten the travel time between the two cities by four hours by car, currently to 90 minutes. The line had eight stations: the Jurong East station in Singapore, and the Malaysian side, Bandar Malaysia, Sepang-Putrajaya, Seremban, Melaka, Muar, Batu Pahat and Iskandar Puteri stations.


Source link

HSR waited for two years; Malaysia saved penalty payment to Singapore: report, Singapore news and top stories



KUALA LUMPUR – Malaysia and Singapore reportedly agreed on the postponement of the HSR Singapore-Kuala Lumpur project, which is expected to be formally announced this week.

The compromise, achieved "in a spirit of good neighborliness", will ensure that Malaysia is spared paying a RM500 million (S $ 168 million) fine for delaying the project, reported The Edge in its September 3 issue , stating sources.

According to the business publication, the link of 350 km will be postponed for two years until May 31, 2020.

Last Thursday (August 30), the Hungarian Transport Minister, Khaw Boon Wan, said on Facebook that he had met the Malaysian Minister of Economic Affairs, Azmin Ali, and that they "brainstormed on ideas to promote our bilateral relationship".

"We must soon be able to jointly announce our decisions on RTS and HSR," added Mr. Khaw, who is also coordinating Minister of Infrastructure, referring to the Rapid Transit system from Johor Baru-Singapore.

Datuk Seri Azmin had also referred to the meeting on Facebook and said that the countries "walked closer to a win-win deal on HSR".

Malaysian Prime Minister Mahathir Mohamad had announced in May that the newly elected government of Pakistan Harapan wanted to delete the railway between the two cities, which was originally planned for completion in 2026.

Malaysia later softened its position by saying that it would negotiate with Singapore and seek a postponement of the project.

According to Kuala Lumpur, the project would cost RM110 billion, an expense that it is reportedly unable to pay because it deals with RM1 trillion of government debt.

The source told The Edge that Singapore acknowledged the tension of building the project on Malaysia's financial health.

Mr Khaw revealed in July in Parliament that Singapore had already spent more than S $ 250 million on the HSR project and is likely to spend another S $ 40 million towards the end of the year.

According to The Edge, the original deal to build the HSR, which was signed in 2016, did not contain provisions for postponement.

Malaysia would have imposed RM500 million in sanctions if it had decided to terminate the project in violation of the agreement, the report said.

It was expected that the rail link would shorten the travel time between the two cities by four hours by car, currently to 90 minutes. The line had eight stations: the Jurong East station in Singapore, and the Malaysian side, Bandar Malaysia, Sepang-Putrajaya, Seremban, Melaka, Muar, Batu Pahat and Iskandar Puteri stations.


Source link

Leave a Reply