PETALING JAYA, Malaysia Malaysia has made a final decision to scrap the High-Speed Rail project between Kuala Lumpur and Singapore and will potentially have to pay RM500 million in compensation, says Prime Minister Dr Mahathir Mohamad.
"It is a final decision but it will take time because we have an agreement with Singapore.
"It is not beneficial to Malaysia because it is going to cost us a huge sum of money and we will make no money at all from it because it is a short track," he told a press conference after chairing Parti Pribumi Bersatu Malaysia's (PPBM) supreme council meeting here today.
Mahathir said Malaysia would discuss the matter with Singapore soon with the aim of handling the project cancellation in a least-cost manner".
Also present were PPBM President and Home Minister Muhyiddin Yassin, PPBM Deputy President and Kedah state Menteri Besar (Chief Minister) Mukhriz Mahathir, and PPBM Youth Chief Syed Saddiq Syed Abdul Rahman.
The HSR project, with a 335km stretch to be built in Malaysia, would cut across four states to connect Kuala Lumpur and Singapore. It was scheduled to be completed in 2026.
Source: NAM News Network