KUALA LUMPUR (April 6): Malaysia is open to reviving a high-speed rail project to Singapore, though it has to be a private sector-led initiative, its trade minister said in an interview with CNBC aired on Thursday (April 6). In January 2021, Malaysia and Singapore jointly called off an estimated US$17-billion (RM75 billion) plan to build a 350km high-speed railway between Kuala Lumpur and the city-state, after both countries failed to agree on several proposed changes to the project. Malaysia paid S$102.8 million (RM340.6 million) to Singapore for the project's termination, both countries said at the time. Malaysia's International Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz told CNBC companies were welcome to submit proposals to re-start the project. Singapore's government also indicated last year the country is open to fresh proposals from Malaysia on the project, according to media.

Source: The Edge Markets April 07, 2023 05:26 UTC