The Kuala Lumpur-Singapore High-Speed Rail (HSR) project will no longer involve any government financing and will be entirely spearheaded by the private sector, announced Transport Minister Anthony Loke Siew Fook.
Loke made this announcement in response to a supplementary question posed by Jerantut Member of Parliament Khairil Nizam Khirudin during a ministerial question-and-answer session in the Dewan Rakyat (House of Representatives) today.
According to Loke, the decision was based on an initial report submitted by MyHSR Corporation Sdn Bhd (MyHSR) to the ministry.
“While the ministry has yet to evaluate the report, it is crucial to note that the HSR project will not involve any financial injection from the government. Instead, it will be funded by the private sector, and the Cabinet’s decision will consider the financial implications for the government,” he said.
Loke also mentioned that the report would be brought to the attention of Prime Minister Datuk Seri Anwar Ibrahim and the Cabinet for approval once it has been assessed by the ministry.
“Our team will review the report and select the best proposal to minimize the financial implications for the government,” he added.
On January 1, 2021, Malaysia and Singapore announced the termination of the HSR project after both countries failed to reach an agreement on the proposed changes by Malaysia before the project agreement expired on December 31, 2020.
However, on August 4, 2023, the government announced that Malaysia would submit a new proposal for the HSR project to Singapore after initial decisions were made by the government.
The new proposal will then be presented by Loke to Singapore for consideration.
The HSR project, once envisioned to connect Kuala Lumpur and Singapore with a high-speed rail network, has been subject to various developments and negotiations between the two countries.
