KUALA LUMPUR - Malaysia’s plan to revive the Kuala Lumpur-Singapore high-speed rail by relying wholly on private sector financing is unlikely to get off the ground, say industry insiders, with fresh bidders for the project requesting government funding in their proposals.
In a stock exchange filing on Jan 26, Berjaya Land announced that its 70 per cent-owned subsidiary Berjaya Rail had formed a consortium with IJM Construction, Malaysian Resources Corp and Malaysia’s national railway firm Keretapi Tanah Melayu to submit a bid for the HSR. ST has also learnt that YTL Corp, which in 2018 was appointed to be a project delivery partner to design and deliver civil works for the HSR before it was suspended, has put in a fresh bid for the project.
Analysts believe that private financing alone cannot revive this project. They say that in order for the HSR to be commercially viable, private companies would need state support for land acquisition, subsidies for train tickets, and maintenance of the infrastructure.
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