Before the first half of 2024 draws to a close, the shortlisted consortium for the preliminary phase of the proposed Kuala Lumpur-Singapore High-Speed Rail (HSR) project is anticipated to be unveiled, as per insights from RHB Investment Bank Bhd analyst, Adam Mohamed Rahim.
The announcement hinges upon governmental endorsement subsequent to assessments conducted by MyHSR Corporation Sdn Bhd (MyHSR Corp), stated Rahim in a recent research note.
Earlier this year, seven consortiums, comprising a total of 31 firms representing diverse expertise, submitted conceptual proposals for the ambitious HSR project to MyHSR Corp.
These submissions were made in response to a Request for Information (RFI) initiated by MyHSR Corp in July 2023, with the RFI deadline set for January 15th.
The findings from the RFI evaluation will be presented to the Ministry of Transport and the Cabinet for deliberation. Should the feedback be favorable, MyHSR Corp will advance to the next phase by issuing a Request for Proposal (RFP) to obtain detailed proposals from the selected consortiums.
The launch of the RFI underscores the government’s commitment to revitalizing the HSR KL-Singapore project through innovative financing mechanisms and implementation models, aimed at bolstering rail transportation infrastructure and stimulating economic growth.
Among the consortiums vying for the project bid is an alliance led by Berjaya Rail Sdn Bhd, a 70 percent subsidiary of Berjaya Land Bhd (BLand), in collaboration with Malaysian Resources Corporation Bhd (MRCB) and Keretapi Tanah Melayu Bhd (KTMB).
Furthermore, Rahim highlighted the imminent implementation of the Mass Rapid Transit 3 (MRT3) project, slated for launch in the fourth quarter of 2024 or the first quarter of 2025. This project is set to finalize land acquisitions by the third quarter of 2024, according to MRT Corp (Mass Rapid Transit Corporation Sdn Bhd).
The construction industry in Malaysia remains buoyant, with construction projects worth RM30.8 billion offered in the first quarter of this year, Rahim noted. Additionally, negotiations for the Penang Mutiara Light Rail Transit (LRT) project segments are ongoing, with a potential value exceeding RM10.5 billion.
In East Malaysia, progress is evident with four out of 20 work packages under Phase 1B of the Pan Borneo Sabah Highway, worth RM15.7 billion, already awarded as of March 22nd, signaling promising advancements in the construction sector.
