SHAH ALAM: Datuk Seri Mohamed Azmin Ali (pix) today confirmed an agreement has been reached to postpone the High-Speed Rail (HSR) project to a future date without any compensation, and that the project would resume once the deferral ends.
The Economic Affairs Minister said the consensus with his Singapore counterpart was reached last week after a series of meetings, and that an official agreement would be signed in the near future in Kuala Lumpur.
He said during this period, both governments would hold more talks on ways to reduce the cost of the multi-billion ringgit project.
"After a series of discussions, Singapore has agreed to accept the Malaysian government's view to postpone the project to a future date, because by then, we are certain the country's economy would have healed.
"No compensation needs to be paid during this period, and any such payment is only required if at the end of the deferral period, we cancel the project.
"(But) once the postponement ends, we will continue with the project," he said, claiming the rail project was beneficial to both countries economically, as well as the rakyat.
Mohamed Azmin said this after attending the opening of the first session of the 14th Selangor state assembly by the Sultan of Selangor Sultan Sharafuddin Idris Shah.