HSR Finished
Govt to find ways to lower payment to S'pore for dropping HSR
Facebook Twitter Mahathir: The terms and agreement for the HSR are such that if we decide to drop the project, it would cost us a lot of money. (Screenshot from The Edge TV) PETALING JAYA (May 26): The government will find out how it can reduce the amount of money it has to pay to Singapore if it needs to drop the Kuala Lumpur-Singapore high-speed rail (HSR) project, said Prime Minister Tun Dr Mahathir Mohamad. "The terms and agreement for the HSR are such that if we decide to drop the project, it would cost us a lot of money. We have entered into an agreement with Singapore. If we break the agreement, we have to pay a very large sum of money," he told The Edge weekly. The 350km HSR will have a proposed seven stops — Bandar Malaysia, Bangi-Putrajaya, Seremban, Melaka, Muar, Batu Pahat, and Iskandar Puteri — in Malaysia, and Jurong East in Singapore. The HSR, which is worth RM100 billion, and the East Coast Rail Link (ECRL) project, which has a contract value of RM60 billion, are two mega infrastructure projects cited by the 92-year-old premier as funded by a borrowing spree that had swelled the national debt to RM1 trillion. The ECRL is expected to cost RM92 billion by the time it is paid off due to interest, said Mahathir. "[Former Prime Minister Datuk Seri Najib Abdul Razak] knew very well that the ECRL, for example, is something we could not afford. It is not going to serve any purpose. It is not going to give us any returns. And yet, he went ahead and decided to build it. "The government’s debt ceiling before was very much lower. But he [Najib] didn't care. What he did was he formed a body and then they borrowed. And eventually it [the borrowings] comes back to the government to pay," he said. He called the previous government's attempt to rollout both multibillion-ringgit projects at once as "crazy". "He didn't seem to think about how we were going to pay for all these," he said. Mahathir added that the contract for the ECRL is "strange", as the terms state that the contractor must be from China while the borrowings of RM55 billion to fund the project must also come from the country. Moreover, the funds must also be kept abroad to pay the contractor, who will be paid based on a pre-determined timetable and not progress of work done. The ECRL is also being undertaken by state-owned contractor China Communications Construction Co Ltd while the loan is being provided by Export & Import Bank of China. He added that the government will renegotiate the terms of the ECRL. |
:D it just only begun :D
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Think price of water will come next......... :(
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Jurong estate prices got affected ?
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Mahathir to drop high-speed rail project with Singapore: FT
http://www.asiaone.com/malaysia/maha...t-singapore-ft
"We need to do away with some of the unnecessary projects, for example the high-speed rail, which is going to cost us 110 billion ringgit (S$37 billion) and will not earn us a single cent. That will be dropped," Mahathir Mohamad told the Financial Times. |
Wonder why project with Singapore is the first one to get chopped ?? Pinky's visit to Dr M useless ?? :(
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Singapore close down a 3 decade Jurong Country Club to make way for this HSR ...... I think we need to push for compensation in accordance to the agreement
But our govt will most likely waive or accept a token sum from Malaysia, citing diplomatic reasons Always like that, create a big hoo haa when it comes to politics with opposition parties but suck thumb when dealing with other countries Indonesia, Thailand, Malaysia |
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No luck |
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All HSR station area become slump again
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in the interest of preserving bilateral good relations, wont pursue the full compensation lah. Dr M dont pay a single sen also lan lan. later they say stop the water supply again.
now the HSR only design stage, the most compensate the design consultants the design fees, lucky did'nt construct half way then stop. SG likely to pay off and avoid antagonising the new Msian govt |
don't think Dr M wanna talk to Pinky, who is he? :rolleyes:
maybe Pinky volunteer to pay everything to make it happen..:eek: then we will get increase GST, tax, ERP, more contribute to CPF and lock it :( |
We must always love Najib. We have Tanjong Pagar back.
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Hearsay..... hearsay many voters blocked counting centers driveway and checked all vehicles (inc police) entering the premise. Those that refused to be check are blocked from entering.
Got truth in that hearsay bo? |
going to step over his head..:rolleyes:
https://sg.yahoo.com/news/malaysia-p...-business.html Malaysia plans to build island on strategic Singapore Strait rocks KUALA LUMPUR (Reuters) - Malaysia's prime minister said on Wednesday his government planned to develop some offshore rocks which were the subject of a territorial dispute with Singapore, days after he cancelled a big rail project with his southern neighbour. The International Court of Justice (ICJ) awarded the outcrop, known as Middle Rocks, near the opening of the Straits of Singapore, to Malaysia in 2008. At the same time, the Netherlands-based court ruled the nearby Pedra Branca island belonged to Singapore. Malaysia sought a review of that ruling last year, in the hope of restaking its claim to Pedra Branca. Singapore opposed Malaysia's bid to review the ruling and the Singapore foreign ministry said on Wednesday the ICJ had informed it Malaysia had withdrawn that request. Malaysia's newly elected prime minister, Mahathir Mohamad, told a news conference that Malaysia had already been building structures on Middle Rocks. "It is our intention to enlarge Middle Rocks so we can form a small island for us," he said. Mahathir declined to elaborate saying the plan had not been finalised. The Singapore government did not immediately have a comment on the Malaysian plan to build on the rocks. While Singapore has not been seeking to revive any claim to Middle Rocks, it is likely to keep a close eye on Malaysia's plan to develop the outcrop at the opening of one of the busiest shipping lanes in the world. Malaysian state news agency Bernama reported last year the opening of a maritime base called Abu Bakar on Middle Rocks. The base comprises a jetty linking two main rocks - some 320 metres apart - a lighthouse and a helipad, a video posted on Facebook by the Sultan of the Malaysian state of Johor shows. Mahathir has already made a major decision affecting relations with Singapore, cancelling a project to build a high-speed rail link between Malaysia's capital, Kuala Lumpur, and the city state. Singapore's trade ministry said in Monday that they had not received any official communication from Malaysia on the decision. Singapore was once part of Malaysia but they separated acrimoniously in 1965, clouding diplomatic and economic dealings for years. Some of the frostiest years were during Mahathir's previous tenure as prime minister between 1981 and 2003. |
:D where does the money come from building such rocks on rocks :D
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Today's news
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HSR more like, KIV for the near future. Maybe using this to soften the stance, which may be a way out of compensation. |
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In addition, my col volunteered to go standby wif those huge ass jeep/lorry with big headlights. each station got a ring of them in case of blackout. Sure shine till brighter den stadium. |
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Really respect the M'sian voters. GOT GUTS to vote out the RUINING party. At least now M'sia is having their daybreak! When will be ours?? |
do you think a change of ruling party does any good? dr m took out gst but put in new sst, remove hsr to reduce debt, how long can it lasts, the country is moving backwards...
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SST was before GST and SST vs GST tax collected average at 2:3
So he is only looking at reinstating SST and doing away with Zero GST (not totally abolished but 0%). Change of gov good or not, ask Malaysians. We are not directly impacted by the change. |
Maybe Dr M is letting this decision to be made by his would-be successor in the next 2 years? And he'll say....I reduced it to zero, my successor reinstated?
That's how I see Dr M, being the "old-hand" handling the state of affairs |
By making it 0% instead of scrapping it totally, it leaves this vehicle open for future use. Not necessary 2 years later, which I doubt would be raise so soon. It's like in divorce papers, maintenance $1/mth (not sure what this means... future can ask for whatever sum?). Why not, $1xlifespan and just pay in 1 lump sum? :D
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Now malaysia finance minister said. HSR can relook into it in further.
I guess they not willingly to pay the breaking contract cost. So just want to buy time. They hv pently of land to lay aside. I dont think they purchase any land or do and anything. While sgp hv acquire land, design, quotation... Etc Sent from my LG-H870DS using Tapatalk |
If Najib can siphon money from 1MDB.......who knows what he had done to HSR ??
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Now Dr M say HSR is postponed. Not scrapped.:eek:
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Saying this mean they do not need to compensate us? Sent from my iPhone using Tapatalk |
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