Malaysia pays Singapore $76.4 mil. for axing high-speed rail project

Politics Economy

Malaysia paid Singapore $76.4 million as compensation for calling off a high-speed rail project connecting the two countries after nearly eight years of negotiations, the two governments said Monday. The Malaysian government paid 102,815,576 Singapore dollars to the Singaporean government as the reimbursement for costs for developing the project and in relation to extending suspension of the project, according to a joint statement released by the governments. "This amount represents a full and final settlement in relation to the termination of the bilateral agreement," said the statement relea...

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