Singapore Demands Malaysia To Compensate $102 M on HSR Instead of total $270 M Spend Due To Recover Value from Land
source newstraitstimes
source railwaygazette.com
On March 29, Malaysia government has announced that they will compensate Singapore S$102,815,576 (RM320,270,519) as the reimbursement for cost incurred by Singapore in the development of the High Speed Rail (HSR) project and a lot of media has question why the different between the amount Singapore has spent on the HSR project and the amount of Malaysia has compensated to Singapore.
Minister for Transport Ong Ye Kung had mentioned in Parliament that Singapore has spent about $270 million on the project including land acquisition cost and the Singapore government can recover the value from the land we acquired hence, Singapore is not seeking compensation for it.
The land acquire will be used to develop the Integrated Train Testing Centre which will be located at the former site of the Raffles Country Club in Tuas.
source propertyguru