It was reported by Media quoting Msia’s Economic Minister Mr Azmin that the HSR had been shelved / delayed indefinitely with the terms of the compensation to be ironed out with the SG’s counterparts over next few mths. However recently SG’s state media Straits Times reported that SG had not agreed to the Deferment & talks are still on-going. 🤨
In the meanwhile, there is no news on the crucial RTS linking Woodlands North (SG) & Bukit Chagar (JB). I have a sneaky feeling this RTS could be Msia’s bargaining chip when dealing with SG on the HSR deal & the associated cancelation/termination costs. This RTS is badly needed to relieve the ever increasing Congestion at both CIQs. It is getting real bad. 😫
Also reported this week in the media, Khazanah (msia’s sovereign wealth fund) wish to sell away both it’s stake in a joint investment with SG’s Temasek (sg’s sovereign wealth fund). This joint investment was created by Past administration (Between Mr Najib & our Prime Minister) from the successful KTM railway land swaps. Are ties & relationships between SG & Msia cooling? 🧐
Lastly there was a news article Quoting Mr Lee Guan Eng (Msia’s Finance Minister) that they are looking to dissolve some Govt Bodies with IRDA (Iskandar Regional Development Authority) being one of them. Already, MACS (Msian Automated Clearance Authority) under IRDA’s purview had been suspended since 12th June. IRDA is crucial to the development of Iskandar Msia i can not fathom dissolving it. 🤦🏻♂️
MACS is a fastrack custom clearance initiated by previous Najib’s administration for Investors in Iskandar Malaysia. With MACS, students, investors, business people, frequent travellors for both travel or medical etc can avoid having their passport stamped & it also expedite the custom clearing process which helps alleviate Jams. This sudden suspension without prior notice or reasons does not bode well for Iskandar.
Dr Mahathir’s also recently commented after his working visit to China that he is not agreeable to the Massive influx of chinese nationals from the few massive property development projects in JB via MM2H especially Forest City. It seems to me that Dr Mahathir is not seeing eye to eye with the Sultan of Johor on the overall direction of Iskandar Msia’s progress & developments.
I have mix feelings about Dr Mahathir & his new Govt’s approach & will reserve judgements till later. It is still too early to tell what is the going to happen with regards to HSR, RTS, Iskandar etc. In meantime i will be keeping a close watch on any new developments. Hopefully common sense & logic prevails & i am sure the Sultan of Johor will not allow the economy of Johor to stagnate & investor sentiments to deteriorate. Interesting times ahead. 🧐🤨