Name: Malaysia pays Singapore $76 million over rail cancellation
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Malaysia pays Singapore $76 million over rail cancellation

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FOLLOW US:newsinfo // 07:54 PM March 29, 2021SINGAPORE — Malaysia has paid Singapore over $76 million compensation following the cancellation of a controversial high-speed rail line between the neighbors after years of stop-start negotiations, officials said Monday.The 350-kilometer (217-mile) railway was expected to cut travel time between the city-state and the Malaysian capital Kuala Lumpur to 90 minutes from the four or more hours by car currently.But the neighbors scrapped the project in December after failing to agree on changes proposed by a new Malaysian government, which had taken power after the fall of a short-lived reformist administration.The countries have had fractious relations since Malaysia expelled Singapore from a federation in 1965, ending a brief and stormy union of the former British colonies.FEATURED STORIESNEWSINFONEWSINFONEWSINFOMalaysia paid Sg$102.8 million (US$76.3 million) to Singapore to reimburse costs incurred for the project, both governments said in a joint statement.They said the amount “represents a full and final settlement in relation to the termination of the bilateral agreement” to develop the line.Singapore signed the deal to build the bullet train line in 2016 with the government of then prime minister Najib Razak, but its fate was thrown into doubt after Najib was defeated in elections two years later.The new prime minister, Mahathir Mohamad, said he wanted to scrap the project as part of an effort to review major infrastructure projects approved by his scandal-tainted predecessor in a bid to cut the country’s debt.Construction was then suspended for two years at Malaysia’s request and the project was finally axed after the collapse of Mahathir’s coalition government last year.Subscribe to to get access to The Philippine Daily Inquirer &amp; other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am &amp; share articles on social media. Call 896 6000.For feedback, complaints, or inquiries,EDITORS' PICKMOST READnewsinfonewsinfonewsinfonewsinfopoptechnologyentertainmentSeptember 13, 2022newsinfoSeptember 14, 2022newsinfoSeptember 14, 2022newsinfoSeptember 13, 2022newsinfoSeptember 14, 2022newsinfoSeptember 13, 2022Disclaimer: Comments do not represent the views of INQUIRER.net. We reserve the right to exclude comments which are inconsistent with our editorial standards.© Copyright 1997-2022 INQUIRER.net | All Rights ReservedWe use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more,I Agree

FOLLOW US:newsinfo // 07:54 PM March 29, 2021SINGAPORE — Malaysia has paid Singapore over $76 million compensation following the cancellation of a controversial high-speed rail line between the neighbors after years of stop-start negotiations, officials said Monday.The 350-kilometer (217-mile) railway was expected to cut travel time between the city-state and the Malaysian capital Kuala Lumpur to 90 minutes from the four or more hours by car currently.But the neighbors scrapped the project in December after failing to agree on changes proposed by a new Malaysian government, which had taken...

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Malaysia pays Singapore $76 million over rail cancellation

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