UOB Kay Hian: Market taken aback by surprise MRT3 cancellation

KUALA LUMPUR (May 31): The cancellation of the third mass rapid transit line (MRT3) has caught investors by surprise and subsequently precipitated another broad market meltdown, which had fallen by the biggest single-day drop since 2008, according to UOB Kay Hian Securities (M) Sdn Bhd.

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RM40b MRT3 project scrapped, says PM

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.

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Back up your HSR RM209b loss claims, PM tells ex-minister

PETALING JAYA (May 30): Prime Minister Tun Dr Mahathir Mohamad has challenged former Minister Datuk Abdul Rahman Dahlan to back up his claims that the cancellation of the Kuala Lumpur-Singapore high-speed rail (HSR) will result in economic losses of RM209 billion.

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