KUALA LUMPUR, Dec 11 — The government is committed to ensuring that fiscal management of the Kuala Lumpur-Singapore High-Speed Rail (KL-SG HSR) project, will have a robust governance structure for transparent and efficient use of resources.
Minister in the Prime Minister’s Department Datuk Abdul Rahman Dahlan said Malaysia is serious in its commitment to the KL-SG HSR and has spent a long time researching and analysing the project.
He said the government understands its impact, benefits and risks to the country, as background work on the project started in 2011.
“Only recently, after much work and deliberation, has the government proceeded to develop the HSR project with Singapore,” Abdul Rahman said in a statement today.
He added that feedback from the public at large is welcomed and the government would ensure due consideration.
“I hope the Opposition will not politicise this issue and distract the good relationship between both countries,” Abdul Rahman said.
The KL-SG HSR project, he said, while complicated and extensive, is expected to benefit Malaysia economically, socially and technologically.
It would reduce the travel time between Greater KL and Singapore to 90 minutes and strengthen links between two of South-east Asia’s most vibrant and fast-growing economic engines.
The Gross Domestic Product (GDP) impact resulting from construction, operations, ancillary services, and indirect multiplier benefits such as tourism and property appreciation would be about RM100 billion.
The wider economic benefits that can be leveraged from the HSR project are conservatively estimated at an additional RM21 billion of GDP in 2060, with 111,000 jobs created, based on a World Bank study on other international projects.
In addition, Abdul Rahman said the HSR presents an opportunity to open up and rejuvenate smaller cities in Peninsular Malaysia by connecting them to the two major metropolises, with most not be served by KTMB’s double-track project.
The HSR agreement between Malaysia and Singapore is scheduled to be signed in Putrajaya next week, and more details are expected to be announced then. — Bernama