High speed train project is gaining traction . . . it will blossom the JB property prices like Shenzhen has been for China as benefit from investors from Singapore & KL.......
Business Times - 23 Mar 2011
Khazanah-Temasek JVs 'making good progress'
KL-S'pore high- speed rail link will yield much economic gain: Khazanah MD
By TEH SHI NING
THE joint ventures between Khazanah Nasional and Temasek Holdings, resulting from the landmark deal between Singapore and Malaysia last year, have made 'a lot of progress', Khazanah's managing director Azman Mokhtar said at a conference on Monday.
'Progress on all fronts is good,' Mr Azman said of Khazanah's 60-40 joint venture with Temasek to develop land parcels in Marina Bay and Ophir-Rochor Singapore swapped with Malaysia in exchange for Malayan Railway Land, as well as another 50-50 joint venture to develop a wellness township in Johor's Iskandar region.
'This is probably still under-appreciated at the moment. . . I think the impact is potentially very large,' Mr Azman said.
Both joint ventures are part of the settlement signed in September after talks between the two countries' prime ministers in May last year saw a breakthrough in the impasse over Points of Agreement signed in 1990.
The planned high-speed rail link between Kuala Lumpur and Singapore will yield much economic gain, Mr Azman said at a Credit Suisse Asian Investment Conference 2011 panel discussion on Malaysia's Economic Transformation Programme (ETP).
'The economic case is definitely there. It is a net additive on both sides,' he said, adding that this could go beyond integrating Malaysia and Singapore's economies to drive Asean connectivity, even as Asean seeks to become Asia's third growth nexus besides China and India.
Chris Tan, director at Malaysian government agency Pemandu (which drives the ETP comprising 131 investment projects requiring expenditure of US$444 billion in all, 92 per cent of which will come from the private sector), said the ETP recognises synergies between the two economies too, such as the use of 'Singaporean intellectual property' to 'unlock value in the Malaysian production hinterland'.
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