news

Malaysia, Singapore finalise discussions for RTS — Wee

KUALA LUMPUR (July 21): The governments of Malaysia and Singapore have finalised discussions on the Johor Bahru-Singapore Rapid Transit System (RTS), said Minister of Transport Datuk Seri Wee Ka Siong (pictured).

At the Dewan Rakyat today, Wee (BN-Ayer Hitam) said the agreements related to the project will be inked on July 30 at Tambak, Johor.

He also clarified that the costs of the development will be at least RM500 million more than the projected RM3.16 billion, due to specification changes including moving the depot from Singapore to Wadihana, Johor.

Concurrently, the Malaysian government is also mulling the switch from deferred payment method to fund the project, to government funding via DanaInfra Nasional Bhd.

"We are not limited to deferred payment. We may also fund the project via Danainfra, which has been discussed with the finance minister," he said, in response to a question from Datuk Seri Saifuddin Nasution Ismail (PH-Kulim Bandar Baharu).

Works for the RTS will commence in January 2021 after the relevant approvals have been acquired, with the project to be completed in 2026.

In terms of fare, the minister said riders from Malaysia will be paying the fare in ringgit, while those from Singapore will pay the same fare but in Singapore dollars.

Stay safe. Keep updated on the latest news at www.EdgeProp.my 

Click here for more property stories.

Click here to see residential properties for sale in Johor.

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
SHARE
RELATED POSTS
  1. 20% cut in directors' fees among steps taken by Starhill Global REIT amid Covid-19 headwinds
  2. Eyeing growth in the Lion City
  3. WORQ secures RM10m funding to expand into RM3b flexi-office market