The Singapore Transport Minister Ong Ye Kung released a joint statement with Malaysia’s Minister in the Prime Minister’s Department (Economy), saying that the two countries have finalised the settlement of compensation for the terminated Singapore-KL high-speed rail project.
Malaysia reimbursed Singapore about S$102.8 million, for costs incurred during the development of the project and for further extension of the initial two-year suspension.
Ong said in a Facebook post:
It is worth noting that Singapore has spent about S$270 million on the terminated project.
Singapore PM Lee Hsien Loong and Malaysian PM Muhyiddin Yassin issued a joint statement earlier this year on 1 January to announce the termination of the Singapore-Kuala Lumpur High-Speed Rail project after both countries couldn’t come to an agreement on the changes that Malaysia proposed.
Images source: One Ye Kung Facebook and WSP.com