Malaysia agrees to give up railway land in Singapore
(FMT) SINGAPORE: Malaysia and Singapore today announced a plan to jointly redevelop prime chunks of real estate in the city-state as part of efforts to settle issues dating back to their separation.
In a statement, visiting Malaysian Prime Minister Najib Tun Razak and his Singapore counterpart Lee Hsien Loong said Malaysia had agreed to relocate a railway station from downtown Singapore to the border with Malaysia by 2011.
The station could finally be relocated within Malaysian territory by 2018 after the establishment of a rapid transit system, according to the statement.
Singapore was ejected from the Malaysian federation in 1965, but Malaysia still occupies railway land all the way up to Malaysian territory, including the station on the fringes of the Singapore banking district.
Under the plan, Malaysia’s state railway — KTM — will move its Singapore terminal to Woodlands, an industrial zone located just across a narrow strait from Johor, by July 1, 2011.
A company known as M-S Pte Ltd will then be established to take ownership of the vacated area and other parcels of land, with 60% equity held by Malaysia’s investment agency Khazanah Nasional Bhd and 40% by Singapore’s Temasek Holdings.
Read more at: http://www.freemalaysiatoday.com/fmt-english/news/general/5956-malaysia-agrees-to-give-up-railway-land-in-singapore
