#MALAYSIA: High Speed Rail Project With Singapore Delayed "Until Economy Improves," Says Economic Affairs Minister

[world politics news]

Malaysia’s Economic Affairs Minister Mohamed Azmin Ali says the country has reached an agreement with Singapore to postpone a High-Speed Rail project until 2020 without any compensation or fines. Speaking to reporters Azmin said the Malaysian government would defer the project, "for a period where we are confident that the Malaysian economy would improve by then." The project had ballooned in costs from US$17.7 billion to over $27 billion. Azmin signaled in July that the project had become too costly as the country faced a national debt of US$246 billion.

[FULL STORY HERE]

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#MALAYSIA: Economics Minister Reveals US$27 Billion In "Hidden Costs" In Malay-Singapore High Speed Rail Project

[world politics news]

Malaysian Economic Affairs Minister Mohamed Azmin Ali says his government's estimated US$27.1 billion (RM110 billion/S$37 billion) price tag for the Kuala Lumpur-Singapore High Speed Rail project includes hidden costs not revealed by the previous administration. Ali said the project was too costly as the country faced a national debt of US$246 billion. The previous administration under Barisan Nasional, which was defeated in the May 9 general election, had said the project would cost about $US17.7 billion.

[FULL STORY HERE]