{"id":94285,"date":"2018-07-20T10:15:20","date_gmt":"2018-07-20T03:15:20","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/hsr-likely-to-be-delayed-not-scrapped\/"},"modified":"2018-07-20T11:03:29","modified_gmt":"2018-07-20T04:03:29","slug":"hsr-likely-to-be-delayed-not-scrapped","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hsr-likely-to-be-delayed-not-scrapped\/","title":{"rendered":"HSR likely to be delayed, not scrapped"},"content":{"rendered":"


\nMalaysia\u2019s Pakatan Harapan-led federal government plans to officially talk with its neighbour over the postponement of the Singapore-Kuala Lumpur High Speed Rail (HSR), reported Channel NewsAsia.
\nIn May, Prime Minister Mahathir Mohamad said they intended to scrap the HSR due to the country\u2019s high debt of more than RM1 trillion that has been worsened by the 1MDB corruption scandal.
\nMore: Further delay in HSR project could hurt both sides: Analysts\u00a0
\nThen in June, he softened his stance, announcing that the mega project was only deferred. On Thursday (19 July), Dr Mahathir reiterated that it has only been held back.
\n\u201cWhen we looked at the financial situation of the country, we thought that we couldn\u2019t go ahead [with the HSR],\u201d he told the media in parliament.
\n\u201cBut having studied it and the implication of unilaterally discarding the contract, we decided we may have to do it at a later date. We may have to reduce the price, but reduction of the price is very difficult as far as we can make out, so it has to be deferred.\u201d
\nLast month, Singapore sent Malaysia a diplomatic note to clear the air regarding the status of the HSR project. While there is no official reply yet, earlier this week, Malaysia\u2019s Economic Affairs Minister Mohamed Azmin Ali announced that he will meet with Singapore\u2019s Transport Minister Khaw Boon Wan to find the best solution regarding the HSR that will be in the best interest of both nations.
\n\u201cSingapore wants to know what\u2019s our stand, but officially now we are sending the minister,\u201d said Dr Mahathir.
\n\u201cThe problem is if we unilaterally discarded the agreement, we have to pay a very high compensation. Of course, we can\u2019t say that we will never build this High-Speed Rail. But at the moment we don\u2019t have the funds. So we have to delay [it].\u201d
\nMeanwhile, Johor crown prince Tunku Ismail Sultan Ibrahim is urging the federal government to proceed with the HSR due to its benefits.
\n\u201cI think it\u2019s a very, very positive project that we should continue because it will not only help Johor but also Singapore. It will boost the economy in Johor; maybe have more foreign investment coming in. That\u2019s my personal opinion,\u201d he told Channel NewsAsia.
\nQueried on the HSR\u2019s impact on the federal government\u2019s debt, Tunku Ismail said: \u201cAt the end of the day, they are the government. They should judge what is necessary and what\u2019s not necessary. It\u2019s not my place and not my position to know what\u2019s the financial status of the country.\u201d
\n\u00a0
\nSenior Content Producer, Christopher Chitty, edited this story.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…HSR likely to be delayed, not scrapped<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Malaysia\u2019s Pakatan Harapan-led federal government plans to officially talk with its neighbour over the postponement...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-94285","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-owJ","jetpack-related-posts":[{"id":113153,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mahathir-bandar-malaysia-project-to-have-an-hsr-station\/","url_meta":{"origin":94285,"position":0},"title":"Mahathir: Bandar Malaysia project to have an HSR station","date":"December 18, 2019","format":false,"excerpt":"\r Malaysia might also consider scaling down to trim costs, which will see train speeds reduced. Malaysian Prime Minister Mahathir Mohamad has said the revived Bandar Malaysia project will house a Kuala Lumpur-Singapore High-Speed Rail (HSR) project, although Malaysia and Singapore have yet to finalise details of the project. \u201cWe\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":94035,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/malaysia-to-discuss-hsr-project-with-singapore-by-end-july\/","url_meta":{"origin":94285,"position":1},"title":"Malaysia to discuss HSR project with Singapore by end-July","date":"July 17, 2018","format":false,"excerpt":"\r Malaysia has revealed plans to send an official representative to Singapore by the end of the month to discuss the Kuala Lumpur-Singapore high-speed rail (HSR) project, and to release an announcement on the matter this week, reported Channel News Asia. \u201cI\u2019m in communication with our Singaporean counterpart. Last week,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97014,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/win-win-deal-on-hsr-to-be-announced-soon\/","url_meta":{"origin":94285,"position":2},"title":"\u201cWin-win deal\u201d on HSR to be announced soon","date":"August 31, 2018","format":false,"excerpt":"\r Singapore and Malaysia are expected to announce soon a mutually beneficial agreement regarding the Kuala Lumpur-Singapore High-Speed Rail (HSR), reported Channel NewsAsia. \u201cWe are inching closer to a win-win deal on HSR thanks to the hard work of officials from both sides,\u201d said Malaysia\u2019s Economic Affairs Minister Mohamed Azmin\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":89906,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/3-reasons-why-scrapping-the-hsr-project-may-be-bad-for-jurong\/","url_meta":{"origin":94285,"position":3},"title":"3 reasons why scrapping the HSR project may be bad for Jurong","date":"May 30, 2018","format":false,"excerpt":"\r Artist\u2019s impression of the HSR terminus in Jurong East. The growth prospects of Jurong\u2019s property market may have dimmed after Malaysia\u2019s new Prime Minister Dr Mahathir Mohamad on Monday (28 May) said a \u201cfinal decision\u201d was made to scrap the Kuala Lumpur-Singapore High Speed Rail (HSR) project. Both countries\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2018\/05\/Jurong-Lake-District.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":95239,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-takes-over-raffles-country-club-despite-possible-delay-in-hsr\/","url_meta":{"origin":94285,"position":4},"title":"Govt takes over Raffles Country Club despite possible delay in HSR","date":"August 2, 2018","format":false,"excerpt":"\r The Raffles Country Club opened in 1988 and is one of the oldest golf clubs in Singapore. Source: Tourmet.com The local authorities recently took ownership of Raffles Country Club\u2019s land despite the possible postponement of the Singapore-Kuala Lumpur High Speed Rail (HSR), reported TODAYonline. The government \u201ctook site possession\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93531,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/plans-for-jurong-lake-district-not-changed-regardless-of-hsr-result\/","url_meta":{"origin":94285,"position":5},"title":"Plans for Jurong Lake District not changed regardless of HSR result","date":"July 10, 2018","format":false,"excerpt":"\r The overall impetus and vision for Jurong Lake District has not changed, regardless of the outcome of the high-speed rail (HSR) project between Singapore and Malaysia, said National Development Minister Lawrence Wong in Parliament on Monday. His statement comes after Malaysian Prime Minister Mahathir Mohamad has announced plans to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/94285"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=94285"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/94285\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=94285"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=94285"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=94285"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}