Private sector in Malaysia, Singapore keen to be involved in HSR - MSBC

KUALA LUMPUR (Aug 7): The private sector from Malaysia and Singapore is very keen to find out how they could be involved in the new plans for the Kuala Lumpur-Singapore High-Speed Rail (HSR), says the Malaysia-Singapore Business Council (MSBC).

The council has requested that both governments strive to communicate the proposed changes to the plans for the HSR project once Malaysia is ready to share, it said in a statement today.

On May 31, 2020, both governments agreed to defer the construction of the RM110 billion bilateral project again until Dec 31, 2020.

MSBC said with the fast growth of digitalisation and the digital economy, the council would set up a dedicated focus group to exchange best practices and collaborate in various areas.

"They include digital connectivity, fintech, e-commerce, digitalisation of manufacturing services, as well as the adoption of Industry 4.0 solutions such as Internet of Thing (IoT) and robotics,” it said.

Malaysia co-chair Datuk Seri Dr Nik Norzrul Thani said Singapore-Malaysia business ties are significant for the region, and the council is committed to further deepening cooperation in areas of mutual interest. 

Meanwhile, Singapore co-chair Dr Robert Yap said despite the uncertainty and challenges of COVID-19, it is promising to see the businesses from both countries exploring collaboration in both existing and new cooperation areas such as the digital economy and start-ups as well as manufacturing and Industry 4.0.

"This crisis offered very good opportunities for enterprises to think of how to transform their business models and develop new strategies to position themselves for a post-COVID-19 new normal environment," he said.

MSBC added that its members had expressed confidence that the two economies will bounce back to pre-COVID-19 levels following the easing of lockdown measures in both countries and the availability of the vaccine.

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