Singapore will seek compensation if Malaysia cancels multibillion-dollar rail plan
Singapore — Singapore will seek compensation for all costs incurred if Malaysia cancels a planned multibillion-dollar high-speed railway link between the two countries. Transport Minister Khaw Boon Wan told parliament on Monday that compensation would be sought under the terms of the 2016 high-speed rail bilateral agreement between Singapore and Malaysia. "We will deal with the question of compensation from Malaysia for costs incurred by Singapore in accordance with the bilateral agreement and international law," Khaw said, adding that Singapore expected to incur costs of about S$300m ($221.5m) by the end of the year. Soon after achieving a stunning upset in Malaysia’s May general election, Prime Minister Mahathir Mohamad said he would cancel the rail link to Singapore, a signature project of his predecessor Najib Razak, in what he called a move to cut costs. The decision is a setback to construction and rail companies in Asia, including those from China and Japan that are keen to g...
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