After trying to come back from Singapore on a weekday a couple of months, I understand why Rapid Transit System (RTS) is not just a convenience but it is a necessity. Beyond just connectivity, this is a catalyst to economic activity. It’s definitely lending support to the property market too. We are talking about huge potential demand from many Malaysians who are staying in the smallest room in Singapore just to avoid having to wake up wee hours in the morning and coming home from work after 9pm daily. Latest update directly from our Prime Minister Tun Dr. Mahathir Mohamad? It’s a Go-Ahead.
Article in theborneopost.com Prime Minister Tun Dr Mahathir Mohamad said, “We will go ahead with the project and solve a little bit on the issue of traffic congestion. Details of the project would be discussed with the Singapore government.” He also said that the latest cost has resulted in a savings of 36 per cent or RM1.77 billion compared with the original cost of RM4.93 billion.
He added, “We will stick to our promise. (The RTS project) was temporarily postponed, now we are ready and we will build (RTS). The story saying that we want to postpone for another six months…that is the story by the newspapers.”
In another media conference, our Transport Minister Anthony Loke Siew Fook said that Prasarana Malaysia Bhd (PMB) would continue to remain as the Malaysian representative in the joint-venture company operating the train (JV OpCo) and also given the mandate to discuss with the company operating the Singapore railway, SMRT to finalise terms in the Joint Venture Agreement. Do refer to the article in theborneopost.com here.
Since the agreement is said to be signed in 2020, we can assume that RTS could potentially be operating by 2026? Or earlier, hopefully? Well, the original date that RTS would start operating was to be end of 2024. As usual, it’s best to wait for the formal press conference and not just any media report yeah. Yeah, there was also a mention of the new bridge but this has had no positive response from the Singapore side at the moment.
Any property market would need a catalyst. High Speed Rail KL – SG is not the main catalyst for JB property market. RTS is. Will keep following up closely and keep reporting to everyone yeah. I meant all the official news, not the rumours. Further delays will not help both sides. I am serious. Happy understanding.
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