Singapore to feel loss of high-speed rail link keenly

Singapore to feel loss of high-speed rail link keenly

Singapore to feel loss of high-speed rail link keenly

"We'll make no money at all from this arrangement", he added.

Asked about this, a spokesman from Singapore's MOT said it is still awaiting "official communication from Malaysia".

"That will be dropped", he had said in an interview with The Financial Times.

Malaysia will implement a new sales tax in September to replace the consumption levy that it's scrapping next month as Prime Minister Mahathir Mohamad looks for ways to temper concerns on the nation's budget.

Malaysia a year ago filed a review of that ruling, but the ICJ on Wednesday said Mahathir had withdrawn that application put in by the government of the defeated former prime minister Najib Razak.

The Facebook page of the powerful Sultan of Johor - Malaysia's southernmost state bordering Singapore - past year published a video of a tiny maritime facility built on Middle Rock.

Last night Singapore's transport ministry said it had not received official confirmation of the Malaysian decision.

Najib said this is because the project was not created based on the decision of one country alone, but done after careful study on its benefits.

Jotting down his comments on the Facebook site of a news outlet, Richard Koh said there was a need to slow down some developments when Malaysia's finance and economy is "in trouble".

Mahathir has reopened an investigation into 1MDB that was suppressed during Najib's rule. And we can not pay so much money if we continue with the project.

"We have to talk with Singapore about dropping that project", he said.

"So we are not only looking at the [high speed rail project] but also mega projects which cost billions of dollars".

The new government has said it will review large-scale infrastructure projects, including Chinese investment, to cut costs after revealing that national debt and liabilities was over a trillion ringgit ($251 billion), or 80 percent of gross domestic product, taking into account government guarantees and other payments.

The 350-km HSR project with the Singapore portion covering 15 km - was scheduled to be completed by 2026.

According to reports, Mahathir is also reconsidering another major scheme initiated by the Najib administration - the $13bn ECRL, a 688-km line connecting Malaysia's northeastern cities with Kuala Lumpur. Minister of Finance, Lim Guan Eng ends the statement by expressing their honest appreciation and gratitude to all Malaysians for all their support and concern.

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