PUTRAJAYA (May 30): The government is scrapping the third mass rapid transit line (MRT3) project, which is estimated to cost up to RM40 billion to build, Prime Minister Tun Dr Mahathir Mohamad said today.

KUALA LUMPUR (May 30): Malaysian Resources Corp Bhd (MRCB) shares fell 5.84% early today after the government decided to scrap the High Speed (HSR) rail link project.

KUALA LUMPUR (May 30): Gamuda Bhd shares fell 6.05% early today after the government decided to scrap the High Speed Rail (HSR) link project.

KUALA LUMPUR (May 30): Prime Minister Tun Dr Mahathir Mohamad's move to scrap the Kuala Lumpur-Singapore high-speed rail (HSR) mega project came as a surprise to many and the fact that he did not consult the cabinet has raised concern, Malaysiakini reported today.

UPDATED May 29, 12.02pm

PETALING JAYA (May 28): Tun Dr Mahathir Mohamad has confirmed that the Kuala Lumpur-Singapore high speed-rail (HSR) will be cancelled, with the penalty likely to be around RM500 million, the prime minister told reporters today after a Parti Pribumi Bersatu Malaysia meeting.

PETALING JAYA (May 26): The government will find out how it can reduce the amount of money it has to pay to Singapore if it needs to drop the Kuala Lumpur-Singapore high-speed rail (HSR) project, said Prime Minister Tun Dr Mahathir Mohamad.

KUALA LUMPUR (May 14): While markets are nervous that the new ruling coalition Pakatan Harapan’s pledge to review megaprojects may negatively impact the construction sector, some see the plan as a chance for greater inclusion of local players.

KUALA LUMPUR (May 3): “Advanced work” on the Kuala Lumpur-Singapore high speed rail (HSR) is slated to begin by the end of this year following the letters of award for the project delivery partners (PDPs) yesterday, according to MyHSR Corp Sdn Bhd.