{"id":94287,"date":"2018-07-20T10:05:09","date_gmt":"2018-07-20T03:05:09","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/further-delay-in-hsr-project-could-hurt-both-sides-analysts\/"},"modified":"2018-07-20T11:03:30","modified_gmt":"2018-07-20T04:03:30","slug":"further-delay-in-hsr-project-could-hurt-both-sides-analysts","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/further-delay-in-hsr-project-could-hurt-both-sides-analysts\/","title":{"rendered":"Further delay in HSR project could hurt both sides, analysts"},"content":{"rendered":"


\nAnalysts urged Malaysia to make clear its position on the Kuala Lumpur-Singapore High-Speed Rail (HSR) project as further delay could prove to be detrimental for both countries.
\nThey believe that postponing the multi-billion-dollar project would only rack up huge costs for both countries while delaying the intended economic benefits like the development of regional areas within Malaysia, reported Today Online.
\nMore: Economic gap between Singapore, Malaysia\u00a0shrinking: Bloomberg
\nMalaysia Prime Minister Mahathir Mohamad has reportedly said that his government will try to renegotiate with Singapore the deferment of the mega project \u2013 a move described by analysts as not ideal.
\nWalter Theseira, a transport economist from the Singapore University of Social Sciences, said postponing the project would result to hefty opportunity cost on the investments put into developing the \u201cinfrastructure and right of way for the project\u201d.
\nHe noted that land acquired for the rail link, some of which are prime land, would lay unused \u2013 leading to large opportunity cost. The Singapore government, for instance, has acquired two recreational plots \u2013 the Jurong and Raffles country clubs \u2013 to make way for the project.
\n\u201cAlthough there haven\u2019t been sizeable infrastructure investments yet, once those start to occur, the depreciation of those investments would be another cost that increases with each delay\u2026 Any delay will involve some costs, and obviously, longer delays would tend to incur more costs,\u201d he explained.
\nTransport Minister Khaw Boon Wan revealed in Parliament earlier in the month that Singapore had spent over $250 million on the project by end-May, with the figure expected to increase to around $300 million by year-end.
\nMoreover, the longer the HSR project is put off, the longer it will be for Malaysia to enjoy the benefits of development across the areas through which the rail line would pass, said Terence Fan, a transport specialist from the Singapore Management University (SMU).
\nSingapore, on the other hand, will be denied the benefit seen from the greater movement of people between the two states.
\nMeanwhile, contractors who have invested time and financial resources into the project would be \u201cannoyed\u201d as the project is marred by \u201ctoo much political uncertainty\u201d, said Asia Rail Engineering\u2019s engineering director Phillip Peachey. This places future projects between Singapore and Malaysia at risk as contractors may be hesitant at placing bids.
\nAlthough analysts expect Singapore to \u201csee what it could do to accommodate\u201d its neighbour\u2019s request in the interest of good relations, they do not expect the city-state to accept a fundamental change in the agreement as this would put Singapore in a bad light.
\n\u201cIf we\u2019re seen as pushovers such that people can renege on their original agreement, then in future, other countries will not take us seriously on the world stage,\u201d said SMU law lecturer Eugene Tan.
\nHe noted that the city-state would want \u201cto promote the sanctity of these agreements, because our position is, of course, that the agreements were properly entered into and both countries had the benefit of advice, ranging from legal to non-legal\u201d.
\nUltimately, however, \u201ca lot depends on the Malaysians providing further and better particulars as to what it is that they want\u201d, said Tan.
\n\u00a0
\nSenior Content Producer, Christopher Chitty edited this story
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Further delay in HSR project could hurt both sides, analysts<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Analysts urged Malaysia to make clear its position on the Kuala Lumpur-Singapore High-Speed Rail (HSR)...<\/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-94287","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-owL","jetpack-related-posts":[{"id":100444,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/high-speed-rail-delay-unlikely-to-impact-singapore-malaysia-ties\/","url_meta":{"origin":94287,"position":0},"title":"High Speed Rail delay unlikely to impact Singapore-Malaysia ties","date":"October 24, 2018","format":false,"excerpt":"\r Artist\u2019s impression of the HSR terminus in Jurong East. The decision to defer the construction of the Singapore-Kuala Lumpur High Speed Rail (HSR) until May 2020 is unlikely to cause a strain between the relationship of both countries, reported Bernama. According to Malaysia\u2019s Economic Affairs Minister Datuk Seri Mohamed\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":123539,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/malaysia-wants-hsr-project-revived-singapore-open-to-idea\/","url_meta":{"origin":94287,"position":1},"title":"Malaysia wants HSR project revived, Singapore open to idea","date":"December 1, 2021","format":false,"excerpt":"\r The High-Speed Rail project between Singapore and Malaysia was terminated on 1 Jan 2021, however, the Malaysian prime minister has suggested reviving discussions for the project. Malaysia Prime Minister Ismail Sabri Yaakob has suggested reviving discussions on a High-Speed Rail (HSR) with Singapore, reported Channel News Asia (CNA) citing\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/12\/Artists-impression-of-the-HSR-terminus-in-Jurong-East-crop.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":97362,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-and-malaysia-agree-to-postpone-high-speed-rail-project\/","url_meta":{"origin":94287,"position":2},"title":"Singapore and Malaysia agree to postpone High Speed Rail project","date":"September 6, 2018","format":false,"excerpt":"\r Artist\u2019s impression of the HSR terminus in Jurong East. While many may be disappointed, Singapore and Malaysia\u2019s agreement to postpone the development of the Kuala Lumpur-Singapore High-Speed Rail (HSR) offers greater clarity on the way forward for the mega project, said Singapore Transport Minister Khaw Boon Wan in a\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":94287,"position":3},"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":34354,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-malaysia-to-sign-hsr-agreement-next-month\/","url_meta":{"origin":94287,"position":4},"title":"Singapore, Malaysia to sign HSR agreement next month","date":"November 15, 2016","format":false,"excerpt":"\r Singapore PM Lee Hsien Loong and Malaysian PM Najib Razak are to witness the signing of the agreement in early December. Singapore and Malaysia are set to sign a bilateral agreement early next month for the development of the long-awaited high-speed rail (HSR), which will connect the two countries,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":36674,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-malaysia-need-sound-agreement-on-hsr\/","url_meta":{"origin":94287,"position":5},"title":"Singapore, Malaysia need sound agreement on HSR","date":"December 1, 2016","format":false,"excerpt":"\r PM Lee (seen here with Malaysian PM Najib Razak) is confident about the success of the HSR project, despite having acknowledged the difficulties involved. Prime Minister Lee Hsien Loong believes cost sharing of the High Speed Rail (HSR) project is one of the factors making the project complicated, since\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\/94287"}],"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=94287"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/94287\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=94287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=94287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=94287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}