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Singapore and Malaysia sign high-speed rail MOU

By Tan Chee Yuen

/ CapitaLand |

July 20, 2016 10:00 PM SGT

The governments of Singapore and Malaysia signed a memorandum of understanding (MOU) on a high-speed rail (HSR) linking Kuala Lumpur and Singapore on July 19.

The 350km-long HSR aims to cut the travelling time between both cities to 90 minutes. The trains will run at a top speed of more than 300kph. The two termini are located at Jurong East in Singapore and Bandar Malaysia in Kuala Lumpur. There are six intermediate stations in Malaysia along the HSR line. They are Putrajaya, Seremban, Ayer Keroh, Muar, Batu Pahat and Iskandar Puteri. Operation is expected to commence by 2026.

CapitaLand president and group CEO Lim Ming Yan welcomes the move as it will increase the traffic of business and leisure travellers between the two countries. This increase is expected to benefit CapitaLand’s portfolio of shopping malls and serviced residences in both countries, especially those located near the terminals and intermediate stations.

In Singapore, CapitaLand owns and manages 19 malls, including three near the upcoming HSR terminus in Jurong East — Westgate, JCube and IMM. In Malaysia, CapitaLand has a portfolio of seven shopping malls and 15 serviced residences under the Ascott, Citadines and Somerset brands with over 3,000 units, including those in Kuala Lumpur, Putrajaya and Iskandar Puteri.

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