Hong Kong and Malaysia sign 11 deals, including 1 involving MTR Corporation, as John Lee wraps up week-long Asean trip
- Malaysia and Hong Kong’s MTR Corporation will work together on property developments for a rail project linking Johor Bahru and Singapore
- World’s economic centre of gravity is moving eastward and it is crucial for us to do all we can to capitalise on this trend of robust growth in the region, Lee says
Malaysian transport minister Anthony Loke said the Hong Kong rail giant had been invited to work with the state-owned Mass Rapid Transit (MRT) Corporation to use its “rail plus property” model for transit-oriented development at the station connecting to Singapore.
“You will never be able to recoup the investment from just the fare collection, so we have to look at the property development side,” Loke told the Post, adding that he was open to expanding potential MTR Corp collaboration to other locations in Malaysia.
The minister said he was impressed by the rail giant’s property development funding model and station design during a visit to Hong Kong in June, in particular the “very detailed thinking into every aspect” for both passengers and the public.
The 4km (2.4 miles) Johor Bahru-Singapore Rapid Transit System will consist of one station on each side of the Strait of Johor. The estimated cost of the project is about 10 billion ringgit (US$2.2 billion).