Malaysia to lose billions of ringgit in revenue after HSR termination: Najib

The country's weak fiscal position was integral in the scrapping of the KL-Singapore high-speed rail project due to the current economic situation

Published Sat, Jan 2, 2021 · 05:50 AM

Najib Razak

Kuala Lumpur

The termination of the high-speed rail (HSR) project from Kuala Lumpur to Singapore, which will be rerouted to end at Johor Bahru instead, will end up costing Malaysia billions of ringgit in lost revenue, said former Malaysian prime minister Najib Razak on Friday.

He made the comments shortly after Singapore and Malaysia issued a joint statement to announce the termination of the HSR agreement, with the two countries unable to reach a consensus on Malaysia's proposed changes to the project.