Malaysia, Singapore agree to postpone rail project for two years
Staff Writer |
Malaysia has agreed with Singapore to postpone the development of a high-speed rail service by two years, Malaysian media reported, as Southeast Asia’s third-largest economy looks to review mega projects to cut its massive debt.
Malaysian business weekly The Edge on Saturday cited sources confirming both countries agreed to postpone the project to May 31, 2020 at no penalty to either, to allow Malaysia time to review its finances. ■