KUALA LUMPUR, Sept 14 — The revival of the High-Speed Rail (HSR) project is expected to bring catalytic developments ”as it will lead to multiplier effects for Malaysia and Singapore,” said the Malaysia-Singapore Business Council (MSBC) chairman Tan Sri Nik Norzrul Thani.

"Given the reduced travel time, this will definitely change how businesses in the region operate,” he said in a joint statement between the Federation of Malaysian Manufacturers (FMM) and the Singapore Business Federation (SBF) today.

The executive chairman of YCH Group, Robert Yap, said the MSBC will continue to be the strategic platform where Singapore and Malaysia companies can come together to leverage each other’s strengths and jointly explore business opportunities in key sectors of mutual interest.

"From the results of the Singapore Business Federation National Business Survey 2022/2023, Malaysia remains one of the top three countries for future internationalisation by Singapore companies,” he said.

The statement said that the 24th joint meeting of MSBC was co-chaired by Nik Norzrul and Yap, held virtually on September 11, 2023.

"During the joint meeting, presentations were shared on the latest developments of the Pengerang Integrated Petroleum Complex, East Coast Economic Region of Malaysia, and findings of Singapore’s Action for Community Entrepreneurship’s Malaysian market survey, as well as an update of Singapore Manufacturing Federation’s recent initiatives in Malaysia.

"There were also discussions on possible collaboration in the HSR project, human capital development, and the digital economy,” it said.

Established in July 2004 to promote business and investment activities between Singapore and Malaysia, the MSBC continues to serve as a useful collaboration platform for the business communities of both countries to initiate mutually beneficial projects and explore joint opportunities. — Bernama