Song Hong
SENIOR MEMBER
- Joined
- Jan 4, 2020
- Messages
- 5,058
- Reaction score
- -25
- Country
- Location
The "main concern" that led to the termination of the Kuala Lumpur-Singapore High-Speed Rail (HSR) project was Malaysia's suggestion that the assets company that was to manage the project be removed, said Minister for Transport Ong Ye Kung on Monday (Jan 4).
A joint tender for an assets company for the HSR project was called by Malaysia's MyHSR and Singapore's SG HSR in December 2017.
The assets company would have been necessary to ensure the interests of both countries were protected and minimise the possibility of future disputes over the HSR, Mr Ong told Parliament.
He noted that neither Malaysia nor Singapore had experience in running a high-speed rail line and so it had been agreed that a "best-in-class industry player" would be appointed to act as an assets company through an "open and transparent international tender".
This company would have supplied the train system as well as operated the network, and would have been accountable to both countries.
The removal of the assets company represented a "fundamental departure" from the bilateral agreement and could not be accepted, said Mr Ong.
Malaysia then decided to allow the agreement to be terminated, he added.
A joint tender for an assets company for the HSR project was called by Malaysia's MyHSR and Singapore's SG HSR in December 2017.
The assets company would have been necessary to ensure the interests of both countries were protected and minimise the possibility of future disputes over the HSR, Mr Ong told Parliament.
He noted that neither Malaysia nor Singapore had experience in running a high-speed rail line and so it had been agreed that a "best-in-class industry player" would be appointed to act as an assets company through an "open and transparent international tender".
This company would have supplied the train system as well as operated the network, and would have been accountable to both countries.
The removal of the assets company represented a "fundamental departure" from the bilateral agreement and could not be accepted, said Mr Ong.
Malaysia then decided to allow the agreement to be terminated, he added.
Assets company removal 'main concern' that led to HSR termination, project has cost Singapore more than S$270 million: Ong Ye Kung
SINGAPORE: The "main concern" that led to the termination of the Kuala Lumpur-Singapore High-Speed Rail (HSR) project was Malaysia's suggestion that the assets company that was to manage the project be removed, said Minister for Transport Ong Ye Kung on Monday (Jan 4).
www.channelnewsasia.com