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Wednesday, July 1, 2009

YTL: KL-S'pore bullet train project economically viable

DIVERSIFIED group YTL Corp Bhd said it still believes the high-speed bullet train linking Kuala Lumpur to neighbouring Singapore is an economically viable project and hopes the government will reconsider its implementation.

Its managing director Tan Sri Francis Yeoh said the project is important to further build and strengthen the country's economy. It can also help attract foreign investors to the country.

"We hope the government will continue with the high-speed bullet train project for the sake of the country and the economy," he told a media briefing on the sidelines of Invest Malaysia 2009 in Kuala Lumpur yesterday.

"Indeed, we don't mind if we are not involved in the project as long as the government or other companies are interested in realising the project," he added.
The plan for a high-speed train between the two cities, spanning about 300km, was proposed in the late 1990s.

The project was shelved in 2008 by the government due to the high cost of building it. This was based on the financial model that was submitted by YTL.

The proposed RM8 billion bullet train project is said to be able to cut travelling time between Kuala Lumpur and Singapore to 90 minutes compared with existing trains which takes about seven hours.

Yeoh said he is optimistic that the present government would reconsider the project's implementation and put it on the urgent list.

"China, Japan, the UK, Europe and Taiwan are among the places that have successfully implemented a high-speed train system. Malaysia should have it too in efforts to become a developed country," he said.

By Business Times (by Azlan Abu Bakar)

1 comment:

Anonymous said...

Malaysia reaction is very slow and still infra structure not advance especially public transport system.