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Japan Firms Walked Out of The Singapore-Malaysia High Speed Railway Project
Japanese firm, including East Japan Railway Co, have opted out of participating in the Kuala Lumpur-Singapore high-speed rail project. Photo: The Straits Times
SEAToday.com, Kuala Lumpur-On Thursday, January 11, Japanese firms, decided to opt out of the Malaysia-Singapore High-Speed railway project, amid the deadline for request of information, on January 15. Malaysia's decision to use private financing to finance the project, ultimately prompted Japan’s exit, citing concerns about the risk involved in the project.
Following the recent development, local companies plotted with Chinese and European firms to bid and continue the 21 billion USD project. The development could allow Chinese businesses to further solidify their footprint in infrastructure building in East Asia after they completed a high-speed railway in 2023 in Indonesia and are currently building another in Thailand.
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