High-Speed Rail project MoU in July, says Najib

LONDON: Prime Minister Datuk Seri Najib Abdul Razak said a memorandum of understanding (MoU), to facilitate the High-Speed Rail (HSR) project, is expected to be signed in July by Malaysia and Singapore.
He said the project had aroused excitement worldwide as it would cut travelling time from Singapore to Kuala Lumpur to about 90 minutes.
"We expect to sign the MoU with Singapore in July. That's the target," he said at Bursa Malaysia's private breakfast session with fund managers at Marlborough House on Monday.
Najib was referring to the many infrastructure projects that were earmarked for implementation by the private sector, including the Pan-Borneo Highway, in a move to boost the economy.
Meanwhile, the proposed 350km HSR line will begin in Bandar Malaysia and end at Jurong East in Singapore, reducing the current rail journey of eight hours.
The prime minister had disclosed at the 'Invest Malaysia Kuala Lumpur' conference, held in April, that the MoU was expected to be signed in the middle of this year.
It was reported that construction work on the HSR was scheduled to begin in 2017 and completed by 2022.
Meanwhile, at another event, Najib said the Malaysian government keenly supports the private sector in promoting Malaysian brands internationally.
He said projects such as the regeneration of the Battersea power station and now, EcoWorld's venture in London, would all contribute to the government's plan to raise Malaysia to the status of a high income nation in several years.
"It shows that Malaysians can be world leaders and world beaters, wherever they are building, working, trading, teaching, or participating in whatever way in local societies and economies," he said.
Najib who is on a working visit to the UK, said this in his speech at the topping-up ceremony of the Legacy 1 project at Embassy Gardens on Monday to the drumbeat of the Eco World Symphony Drummers.
Legacy 1 is a project by Malaysian property developer Eco World International.
At the event, Najib was welcomed by the chairman of Eco World Ballymore Holdings Company Tan Sri Liew Kee Sin, chairman of Eco World Management & Advisory Services (UK) Lord Jonathan Marland and managing director of Ballymore UK, John Mulryan.
EcoWorld is partnering the Ballymore Group to develop three prime waterfront sites in London.
Najib commended the joint-venture as it had also commenced work on two other projects, namely London City island on the Leamouth Peninsula in East London and Wardian London, despite being slightly more than a year old.
"The regeneration of the Battersea Power Station by a Malaysian consortium has been a real flag bearer for our country — London will gain a 'Malaysia Square'.
"I believe that EcoWorld's presence in the capital will reinforce the message that Malaysia believes in London,"he added.
EcoWorld, via subsidiary Eco World Investment, had in April last year acquired a 75 per cent interest in three waterside development sites in London with a gross development value (GDV) of around £2 billion (RM11.64 billion) and comprising over 2,700 residential units and 250,000ft² of commercial, leisure and office space.
The three schemes are the Embassy Gardens Phase 2 in the Battersea Nine Elms regeneration area, London City Island Phase 2 in Canning Town, East London and Wardian London in Canary Wharf.
Irish developers Ballymore Group owns the other 25% of the three sites via a joint venture company, Eco World-Ballymore Holding Company Ltd.
Meanwhile, a statement released by EcoWorld said the Embassy Gardens Phase 2 is expected to deliver 709 private residential units and 163 units of affordable homes across three residential blocks ranging from nine to 23 storeys.
The project launched in September last year has been well received with sales of £128.8 million as at end-January 2016. — Bernama