Talks on reviving KL-Singapore HSR project still in early stages, matters on reducing costs have not surfaced: Malaysian minister

Mr Lee stated that Singapore and Malaysia had beforehand reached an settlement to terminate the HSR project, and this has been amicably settled and closed.“Nevertheless, Singapore is open to contemporary proposals from Malaysia on the HSR project," stated Mr Lee.The HSR project, which aimed to cut back journey time between Singapore and Kuala Lumpur to about 90 minutes, was discontinued after the settlement lapsed on Dec 31, 2020.In September 2018, each side agreed to postpone the development of the HSR till end-May 2020, after Malaysia underneath then-prime minister Mahathir Mohamad stated he had thought-about Malaysia's monetary scenario and the way it will not profit from the project.Malaysia later requested an additional seven-month extension to permit each side to debate and assess Malaysia’s proposed modifications to the project.But each side may not agree on new phrases, together with Malaysia's request to take away an belongings firm that will run the railway, and to let the settlement lapse.Malaysia paid greater than S$102 million in compensation to Singapore for the terminated project.Since the termination of the settlement, Malaysia’s federal authorities carried out analysis to review the viability of a home HSR project between Iskandar Puteri in Johor and Kuala Lumpur. In his parliamentary reply on Thursday, Mr Mustapa stated the federal authorities has accomplished its analysis on this proposed home HSR project and can current its findings to the Cabinet.Mr Lim then pressed on why the federal government will not abandon the KL-Johor HSR proposal for the Kuala Lumpur-Singapore HSR, which he thinks is more “feasible and viable”.Mr Mustapa stated: “The government maintains that the (domestic HSR) project is important to enhance connectivity between Kuala Lumpur and Johor Bahru, and one day Singapore. Singapore is a country close to Malaysia.”To an extra query on which traces would carry more financial spillover results, Mr Mustapa stated a examine has been carried out to establish the viability of the KL-JB line.He stated the findings of the examine will probably be tabled to the Cabinet for dialogue.Mr Mustapa stated that one impediment in implementing the  KL-Singapore HSR was Singapore’s insistence on holding the jointly-tendered asset firm AssetsCo in all agreements.He stated Malaysia, nonetheless, feels that it wants different alternate options in managing the project in order to cut back its costs.In January, Singapore’s then Transport Minister Ong Ye Kung stated that Malaysia’s suggestion to take away this belongings firm was the “main concern” that led to the termination of KL-Singapore HSR.The belongings firm would have been mandatory to make sure the pursuits of each nations have been protected and minimise the potential for future disputes over the HSR, stated Mr Ong.He famous that neither Malaysia nor Singapore had expertise in operating a high-speed rail line and so it had been agreed {that a} "best-in-class industry player" can be appointed to behave as an belongings firm by an "open and transparent international tender".This firm would have equipped the practice system in addition to operated the community, and would have been accountable to each nations.