Malaysia to cancel high speed rail project with Singapore

Singapore City: Malaysian Prime Minister Mahathir Mohamad on Monday said that he will drop the Kuala Lumpur-Singapore High Speed Rail (K...


Singapore City: Malaysian Prime Minister Mahathir Mohamad on Monday said that he will drop the Kuala Lumpur-Singapore High Speed Rail (KL-SG HSR) project, as part of his efforts to restore the financial health of the country.

Mahathir made the remarks at a press conference, saying it was "a final decision" to cancel the project, but Malaysia still had to talk to Singapore over a penalty concerning the withdrawal, Xinhua news agency reported.

Mahathir said the penalty was around 500 million ringgit ($126 million). In an interview with the Financial Times earlier, he called KL-SG HSR as one of the "unnecessary projects".

To control public spending, he also introduced a 10 per cent pay cut for his Cabinet ministers, abolished some organisations and vowed to terminate the contracts of some 17,000 public employees.

-Source: News Agency

COMMENTS


*

Name

AROUND THE GLOBE,446,business,31,BY READERS,364,FEATURE,193,GLOBE,15,KERALA,6,Movie,273,SPECIAL STORY,301,TAMILNADU,2,TOP STORY,927,TRAVEL,8,
ltr
item
Local Glob: Malaysia to cancel high speed rail project with Singapore
Malaysia to cancel high speed rail project with Singapore
https://2.bp.blogspot.com/-Uzt6dpCc1pE/WwxLBBWsmHI/AAAAAAAAB-0/FZ7B3lnaSxYXXqXc08fwmlwZqxprbH4agCLcBGAs/s320/malaysia.png
https://2.bp.blogspot.com/-Uzt6dpCc1pE/WwxLBBWsmHI/AAAAAAAAB-0/FZ7B3lnaSxYXXqXc08fwmlwZqxprbH4agCLcBGAs/s72-c/malaysia.png
Local Glob
http://www.localglob.com/2018/05/malaysia-to-cancel-high-speed-rail.html
http://www.localglob.com/
http://www.localglob.com/
http://www.localglob.com/2018/05/malaysia-to-cancel-high-speed-rail.html
true
8255692317570297677
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy