The Kuala Lumpur-Singapore High-Speed Rail (KL-SG HSR) should be privately funded to address government finances.
Government involvement in the previous project contributed to its failure.
Malaysia and Singapore couldn’t agree on proposed changes, leading to the project’s cancellation.
Malaysia paid Singapore for expenses incurred in the project’s development.
Policymakers now view reviving the project as a priority and emphasize private sector involvement.
Commercial interests will drive the project with numerous benefits to the economy.
NEIGHBORING countries’ progress in HSR development highlights the urgency for Malaysia.
Improved intercity travel will give them a competitive advantage in attracting foreign investments.
While costly, the project’s economic benefits are crucial to Malaysia’s GDP growth and productivity.
MyHSR Corp chairman stresses the importance of raising GDP and reducing the country’s debt.
The rail line will improve connectivity and reduce travel times between major cities.
The KL-SG HSR aims to cut travel time between Kuala Lumpur and Singapore to 2½ hours, similar to driving to Ipoh without congestion.
Kuala Lumpur-Singapore air route ranks fifth globally with 2.44 million seats in 2022.
The scrapped project was mostly government funded, unlike the current private funding approach.
Finding the right balance of private sector-government involvement is challenging.
Comparisons with other HSR funding models suggest the Malaysian government may need to finance the land portion of the project.
Credit: The Star : Business Feed
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