Malaysia, Singapore sign landmark Kuala Lumpur-Singapore High Speed Rail (HSR) agreement

PUTRAJAYA (13 Dec, 2016): Malaysia and Singapore have signed the Kuala Lumpur-Singapore High-Speed Rail (HSR) bilateral agreement that will cut travel time between both countries to just 90 minutes.

Prime Minister Datuk Seri Najib Tun Razak and his Singaporean counterpart Lee Hsien Loong witnessed the signing of the landmark deal during the 7th Malaysia-Singapore Leaders’ Retreat here on Tuesday.

Kuala Lumpur-Singapore High Speed Rail (HSR) bilateral agreement agreement was signed at 5.15pm between Minister in the Prime Minister’s Department Datuk Abdul Rahman Dahlan and Singapore’s Transport Minister Khaw Boon Wan.

Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi also witnessed the signing ceremony.

Kuala Lumpur-Singapore High-Speed Rail (HSR) bilateral agreement signing

Kuala Lumpur-Singapore High-Speed Rail (HSR) bilateral agreement signing.  Photo credit: The Star         

The document is a follow-up to the memorandum of understanding (MoU) signed by both countries on July 19, and outlines further plans and details for the development of the expansive rail project.

Kuala Lumpur-Singapore High Speed Rail (HSR) service is targeted to be up and running by 2026 and will cut travel time between Kuala Lumpur and Singapore to just 90 minutes, with trains designed to reach maximum speeds of 300km per hour.

The rail line will stretch 350km, with 335km in Malaysia starting from Bandar Malaysia in Kuala Lumpur and 15km in Singapore, ending at Jurong East.

Apart from reducing travel time between the countries to just 90 minutes, the spillover effects from the Kuala Lumpur-Singapore High Speed Rail (HSR) project also include enhancing business ties and improving people-to-people relations.

The signing of the agreement is a culmination of intensive bilateral discussions since the 2013 Leaders’ Retreat, and furthers the good progress made by both countries since a memorandum of understanding was signed in July, the PMO statement said.

“It also demonstrates the two governments’ commitment to the project, which will boost connectivity, strengthen economic ties and enhance people-to-people linkages when completed,” the statement added.

It will have six transit stations in Putrajaya, Seremban, Ayer Keroh, Muar, Batu Pahat and Iskandar Puteri.

Kuala Lumpur-Singapore High Speed Rail (HSR) project will be administered by MyHSR Corp Sdn Bhd, which has been incorporated as a company wholly-owned by Malaysia’s Finance Ministry.

According to MyHSR, bids for the tender to build the line will be evaluated at the end of 2018.

Tender documents for the systems package – for the actual rail track and train carriages – will be issued at the end of next year, said MyHSR chief executive Mohd Nur Ismal Mohamed Kamal last week.

Three services will run along the eight-station, dual-track line.

There will be an express service between the two terminal stations – Jurong East in Singapore and Bandar Malaysia in Kuala Lumpur; a shorter shuttle service will connect Singapore and Iskandar Puteri in Johor; and a domestic service will link the seven stations in Malaysia.

The customs, immigration and quarantine facilities for the railway will be co-located at three stops which are Singapore, Iskandar Puteri in Johor and Bandar Malaysia in KL.

International-bound travellers will need to clear immigration and Customs only when departing the respective countries.

Several countries are currently bidding for the project including Japan, China and South Korea.

Najib, in a press conference later, said that the Kuala Lumpur-Singapore High Speed Rail (HSR) project was “commercially viable” and would not face any funding problems.

“This HSR project is commercially viable. I think that’s the key to it. Once it is commercially viable, then we will be able to get long-term financing for this project.

“We do not envisage problems in getting long term financing. In fact, those who want to participate in this project can make available certain financial arrangements for us to consider as part of their package. So, that will something that can be resolved,” he said.

Najib, who is also the finance minister, said both parties were committed in meeting the 2026 deadline, despite the mammoth size of the project.

“It’s about 10 years, but as you know, the size of this project, the complexity of this project, 10 years is a relatively short period of time, which means we have to work very closely together,” Najib stressed.

Lee meanwhile said he was optimistic to have his first HSR train ride to Putrajaya in a decade when the project is completed.

“This is a significant milestone in our relationship. This will transform the way we interact, socialise and do businesses.

“It is a complex project and we are making long term commitments, but there is political will on both sides. I’m looking to take my first train ride to Putrajaya in 10 years,” he said with a laugh.

Addressing security concerns, Lee said the Malaysian-Singapore border was among the “busiest international borders in the world” and both parties can’t just shut their doors.

“We cannot close our borders because of security. We must make the borders more secure. It is the busiest international border in the world,” he said.

The Singaporean leader also urged for closer ties between border agencies to ensure that security is prioritised while making it comfortable for travel.

“We want to make quite sure that it is safe, secure and convenient for customers. That means there must be trust and understanding and mutual agreement from both sides.

“We need this for both HSR and RTS and we will make it work,” Lee said, referring to the Rapid Transit System (RTS) Link project, in which Malaysia’s Keretapi Tanah Melayu Berhad (KTMB) service will be extended to connect with Singapore’s Mass Rapid Transit (MRT) system to reduce traffic.

Earlier in the afternoon, Najib and Lee held a four-eyed meeting followed by a delegation meeting as part of the leaders’ retreat.

The Annual Leaders’ Retreat is an annual event hosted rotationally between Malaysia and Singapore.

The inaugural Leaders’ Retreat was held in May 2007 in Langkawi, Malaysia, and has since been a forum for both countries to further strengthen bilateral relations between the two countries.

In 2015, Singapore was Malaysia’s second largest trading partner globally. Last year, total trade between the two countries was recorded at US$59.5 billion (RM190.6 billion).

Also present were Transport Minister Datuk Seri Liow Tiong Lai, Chief Secretary to the Government Tan Sri Dr Ali Hamsa as well as other ministers and senior government officials from both countries.

Forest City Johor has great potential

GELANG PATAH: The mammoth Forest City project has attracted investments totalling RM10bil so far and is propelling the economy and creating jobs, said Datuk Seri Najib Tun Razak.

The Prime Minister said the Forest City Johor project was not just about property development but involved other positive aspects to it.

“This project is generating the economy and creating jobs, including helping with tourism,” said Najib.

Forest City Johor development would also be a boon for the manufacturing, high tech, services and financial sectors.

“This project has a huge potential,” he said, adding that to date it had also sold 11,000 houses.

Najib was speaking to reporters after a two-day visit to Johor to check on the progress of various projects in the state.

At the forest city, Najib witnessed the signing ceremony between Forest City and 36 other companies before the grand opening of Phoenix Hotel.

Country Garden Pacificview (CGPV) executive director Datuk Md Othman Yusof said the mixed development project was expected to contribute some RM66bil in tax revenue to the country over the next 20 years.

He added that many industries were flocking to Forest City Johor which was expected to contribute RM1.98 trillion to the country’s GDP.

Forest City Johor is gaining momentum due to its local, regional and global positioning and with a total cumulative investment of US$100bil (RM444bil) will attract returns of sufficient proportion.

Forest City Johor

Forest City Johor

“It is expected that Forest City Johor will contribute tax revenue of about RM66bil to the Government over a period of 20 years,” Md Othman said during the signing of strategic initiatives ceremony and grand opening of Phoenix Hotel here yesterday.

The synergic partners are organisations from industries such as medical and healthcare, education and training, tourism, financial services, manufacturing, emerging technologies, smart city as well as green building.

The collaborations include seven companies listed under Fortune 500: Huawei, Cisco, Accen­ture, Midea, China Construction Steel Structure Corporation, Deutsche Bank (Asia Pacific) and Bank of China (Malaysia).

“This will cumulatively garner Forest City Johor into becoming an economic hub complementing Iskandar Malaysia which will drive new business activities into the sustainable township,” said Md Othman.

He also noted that the completion of the Phoenix Hotel Country Garden spelled good news for locals, as there would be job opportunities in the services sector, besides spurring tourism.

Md Othman said Phoenix Hotel Country Garden, located on a 1.71ha plot of land on one of the four man-made islands, was among 50 other hotel chains in China developed by CGPV.

 

Source: http://www.thestar.com.my/news/nation/2016/12/07/forest-city-has-great-potential-najib-mega-project-has-already-attracted-investments-worth-rm10bil/

Damansara Realty in JV with Country Garden to develop Central Park

Damansara Realty Bhd has formed a joint venture (JV) with Country Garden Holdings Co Ltd, a China-based property developer, to develop 53 acres of freehold Johor land in Johor Bahru JB into an integrated township called Central Park.

Iskandar project Central Park by Country Garden and Damansara Realty.jpg

Iskandar project Central Park by Country Garden and Damansara Realty (Photo credit: The Edge Property)

The JV called DAC Properties Sdn Bhd will pay state-controlled Johor Corp RM130.3 million for the Johor land while Damansara Realty is to pay an additional RM11.23 million for the remaining 10 acres of the total 63-acre site, which the property group will acquire for RM141.53 million following a development rights agreement signed in 2002 and 2003.

Damansara Realty will hold a 30% stake in DAC and Country Garden will hold the remaining 70% via Country Garden Management Sdn Bhd.

“This partnership represents a significant opportunity for Damansara Realty to execute a large-scale Iskandar project alongside with one of China’s most reputable developers Country Garden. We expect Central Park to generate a significant and steady stream of income to the group over the next few years,” Damansara Realty executive vice chairman Datuk Daing A Malek Daing A Rahaman noted in a statement last Friday.

Daing A Malek said the township development in Iskandar Malaysia will also create significant employment opportunities for Johor’s residents and local economy.

Country Garden regional president Fu Jinling said the Iskandar project’s township development is targeted towards the state’s “dynamic” and “vibrant” population.

“Malaysia has always been a key market for us. We see a lot of potential particularly in JB, where other major developments are taking place. The city is poised to become an international metropolis, and we are proud to be a part of its transformation,” Fu said.

The Iskandar project township development located in Johor’s Tebrau district is targeted at young home buyers in the country and will compromise residential units, commercial lots and various amenities.

Central Park @ Tebrau will be developed over six to eight years and will commence by the fourth-quarter (4Q16) of this year with the first phase to be launched in 1Q17.

Damansara Realty is currently involved in two property projects in Putrajaya and Kuantan, with a gross development cost of RM467.3 million and a 500-acre landbank respectively, while it secured a RM124 million contract for works on the Petronas Refinery and Petrochemical Integrated Development complex in Pengerang last month.

The another major projects in Johor for Country Garden, which is developing Forest City, a real estate project with a total gross development value of over RM250 billion near to Secon Link and Singapore, while working on Iskandar project in Danga Bay and Country Garden Diamond in Kuala Lumpur.

The JV is subject to the approval of Damansara Realty’s shareholders and relevant authorities in Malaysia. Once it is approved, it will be another major iskandar project development in Iskandar Malaysia.

China luxury goods online reseller opens its first Southeast Asian store in Forest City

Forest City Country Garden receiving its China luxury goods online reseller Secoo soft opening on 1 Oct 2016. Secoo, a China online platform featuring high-end fashion brands make its Southeast Asian foray with a brick-and-mortar flagship store set to open at Forest City’s shopping esplanade, the Harbour Commercial Streets.

Forest City Country Garden Harbour Commercial Street

Forest City Country Garden Harbour Commercial Street

Secoo is China luxury goods online reseller selling international luxury goods like Hermes, Louis Vuitton, Valentino, Gucci, ,ROLEX, Prada, Givenchy, Cartier, Dior Homme, Fendi, Bottega Veneta and many more. Its luxury goods products includes watches, bags, shoes, fashion and clothes and others.

Secoo is slated to have its grand opening ceremony in Nov at Forest City Country Garden Harbour Commercial Streets.

Secoo, China luxury goods online reseller

Secoo, China luxury goods online reseller

The 7,500 square metre store, located at the shopping waterfront esplanade will house 19 retailers. Forest City’s commercial development general manager David Cheung said the establishment of the Secoo store at the Harbour Commercial Streets marks the first move by the China luxury goods online reseller to penetrate the Southeast Asian market.

Harbour Commercial Streets is part of the Forest City project as a dedicated shopping centre within Forest City’s development clusters. It will house a wide range of local and international brand names under one roof.

David Cheung said that the commercial area is connected to other Forest City developments, such as the Phoenix Hotel, Fun Fun Park indoor zone for children, as well as myriad food and beverage outlets and duty-free stores opening soon.

He added that while waiting for the Nov grand launch, shoppers now can enjoy up to 40 per cent discounts on selected items offered by retailers storewide for the next two weeks.

“We expect to get 1,000 visitors a day, and it is estimated that another 50 more retail outlets will open for business here by next year,” said David Cheung.

Forest City Country Garden, Iskandar Malaysia, next to Singapore

Forest City Country Garden, Iskandar Malaysia, next to Singapore

Forest City Iskandar Malaysia consists of four man-made islands with land size of 1,386ha. Forest City offers international buyers luxury houses, the most advanced multi-layered urban planning concept and greenery surroundings with no vehicles on the walkway.

Parks and activity spaces scatter around the city, which covers an area of nearly 20 square kilometers. No vehicle traverses its ground; railways connect the whole city. There are roads, flyovers and parking space on the two lower floors, separating pedestrians from vehicles.

The Integrated City focus on eight major industries namely Foreign Investment, Tourist Attractions, Education Hub, Entrepreneurial base, MICE, Retirement Community, E-Commerce Centers & Financial District. It is a Smart Eco-City that acommodates estimation population of 700,000 residents with estimated gross development investments of 40 billions US dollar.

KL-Singapore High-Speed Rail projected to start around 2026

PUTRAJAYA, Malaysia: The High-Speed Rail (HSR) line linking Singapore and Malaysian capital Kuala Lumpur (KL) is expected to start operations around 2026. This was announced at a joint press conference on Tuesday (July 19) after the signing of a Memorandum of Understanding (MoU) between the neighbouring countries.

The signing ceremony, witnessed by Singapore Prime Minister Lee Hsien Loong and his Malaysian counterpart Najib Razak, comes ahead of a legally binding bilateral agreement that will be inked by the end of this year.

Construction of the KL-Singapore High Speed Rail is scheduled to take place from 2018 to 2025, followed by testing, commissioning and finally kickoff for the revenue service a year later.

KL-Singapore High Speed Rail HSR

KL-Singapore High Speed Rail Timeline

The KL-Singapore HSR line will run for 350km, with 335km in Malaysia and 15km in Singapore, and on two tracks going in opposite directions. It will comprise eight stops in total: Singapore, Iskandar Puteri, Batu Pahat, Muar, Ayer Keroh, Seremban, Putrajaya and KL.

KL-Singapore High Speed Rail HSR 2

KL-Singapore High Speed Rail Map

Existing train services take up to 11 hours to journey between Singapore and KL. However, with the line able to reach top speeds of 300km/h, travel time between KL and Singapore is expected to drop to around 90 minutes – excluding clearance at customs, immigration and quarantine (CIQ). There are, however, plans to co-locate CIQ checkpoints at Singapore, KL and Iskandar Puteri to facilitate “seamless travel”.

This means, for instance, that at the Jurong East terminus, one would be able to clear Singaporean immigration and a few steps later, Malaysian immigration before boarding the train, reaching KL and stepping out into the city centre itself.

Travel time for the KL-Singapore HSR between Singapore and Iskandar Puteri in Johor Bahru is expected to take around 10 to 15 minutes.

Both governments agreed that each will take responsibility for developing, constructing and maintaining civil infrastructure and stations within their own countries – MyHSR Corporation for Malaysia and the Land Transport Authority for Singapore.

“COMPETITIVE” FARES

It was also announced that two train operating companies will be appointed to run the KL-Singapore HSR service. An international operator will handle the express service between the Singapore terminus at Jurong East and the KL end at the upcoming Bandar Malaysia development. The same operator will also oversee a cross-border shuttle service between Singapore and Iskandar Puteri.

Another operator will run the domestic service within Malaysia. The express service will have scheduling and operational priority over a domestic line servicing the six stops in Malaysia between Singapore and KL.

The KL-Singapore HSR trains are expected to be 10 cars long, with the capacity for up to 100 passengers per car.

Fare will be set commercially by the operators and “competitive with airfares”, said Singapore authorities.

A separate private entity will design, build, finance and maintain the trains as well as rail assets, like trackwork, communications, signalling and power. It will also allocate and control track access. Depots and maintenance facilities will be located in Malaysia. Both governments have agreed to each take responsibility for developing, constructing and maintaining the civil infrastructure – such as tunnels – within their own countries.

The Singapore and Malaysian governments will build and fund infrastructure works such as viaducts, tunnels and stations within their territories. Both governments also agreed to form a bilateral committee comprising representatives from both sides to manage and regulate aspects of the project which might impact the cross-border services. Both governments will have to make a joint decision on questions such as how the tenders will be called, the sequence of calling tenders, what each package will comprise, and how the tenders will be evaluated.

In a separate statement, Singapore’s Land Transport Authority said that within the next month, it will call an advance engineering study tender for consultants to carry out engineering studies for the Singapore stretch of the High Speed Rail, which will terminate in Jurong East.

This study will include looking at the alignment of the rail link, the architectural and engineering design of the terminus station, noise and vibration issues, and the preparation of tender documents for the project’s construction phase. The study is expected to start by the first quarter of 2017 and will take about 18 to 24 months to complete.

It is understood that, following advance works, construction of the High Speed Rail line may begin in 2018.

 

Source: Channel News Asia

Country Garden unveils RM175b ‘Forest City’ project

Forest City Iskandar Malaysia by Country Garden

Artist’s impression of phase 1 of the Forest City development. (Image by Country Garden Holding Co Ltd)

Forest City Country Garden is a lush urban getaway located on four man-made islands in Iskandar Malaysia. Forest City is a joint development between Country Garden Holdings Co Ltd, a Hong Kong-listed property developer with Johor’s Esplanade Danga 88 Sdn Bhd.

Forest City Iskandar Malaysia project is Southeast Asia’s firsts and largest mixed-use green development in terms of the number of units to be built with a vertical greenery and smart city design theme. Spanning over 1,386.05 hectares on four man-made islands with an estimated investment of RM175.8 billion over the next 20 years, Forest City Country Garden is expected to fuel the economy in Iskandar Malaysia region and neighbouring Singapore.

The entire development of Forest City Country Garden project revolves around a multi-layered three dimensional city planning, with lush vertical greenery covered with dense foliage and multiple forms of public transportation operating at high efficiency, sustainable and renewable energy infrastructures. With the use of futuristic green design and smart technologies, Forest City is set to become a role model of future cities. Forest City Country Garden has adopted best practices to minimise environmental impact through integrated solutions to achieve zero impact to the surrounding area.

“This is a fresh idea where it will have four multi-layers development and the public would not see any vehicles on the road as Forest City Country Garden would be filled with greenery on the top layer while underneath is for roads and parking bays use by vehicles”, Country Garden Holdings chairman Yeung Kwok Keung said. “We also provide effective transportation system for more than 100,000 residents living there. Forest City will be a dream for the community to live and work there,” he said.

To date, Forest City Country Garden is Country Garden’s largest real estate project outside of China, part of the Group’s internationalisation strategy to establish a larger overseas presence. Elsewhere, the Group has completed residential projects in Australia and Malaysia and eyeing to launch real estate projects in Indonesia and Vietnam in the near future. Recognised by the Guangdong provincial government as one of the top developers in China, the Group has delivered quality homes for two decades and has successfully developed over 100 cities globally.

Mr Mo Bin , Chief Executive Officer of Country Garden Holdings, said: “Forest City Country Garden is the first of its kind mega development in Southeast Asia— car-free zone, luxury green living coexists with smart technologies and amenities. Forest City Iskandar Malaysia project is surrounded by the wonders of nature and is of close proximity to centres of education, healthcare, transportation, financial centres, and leisure attractions. Forest City is a city for the future, a vision and longing that was born out of 30 years of experience influenced by China’s pace of internationalisation.”

“Through the unveiling of Forest City Country Garden in Iskandar Malaysia, I am proud to note that Country Garden have completed our transformation of achieving international landmark projects. Rather than another pure real estate project, Forest City Iskandar Malaysia project is a culmination of our wisdom, knowledge and experience that brings to life an eco-city of the future in its true sense. With Forest City Country Garden, we are offering a perfect mix of luxury tranquillity, urban vitality and proximity in the heart of Southeast Asia.”

“The first phase of the Forest City development will comprise condominiums and high-rise coastal residences, which will be released for global sales in Singapore, China and Malaysia in due course,” he said.

“The two- to four-bedroom condominiums range from 818 sq ft to 1,915 sq ft,” he added.

Forest City residences will also have access to amenities including a world-class hotel, fitness clubs and swimming pool.

Eight industries such as education, healthcare and tourism will be the main economic pillars to the growth at Forest City Iskandar Malaysia project. As part of the long-term planning for Forest City, Country Garden is in discussions with Malaysian local government to set up dedicated entry points to Forest City Country Garden such as a light rail transit system and a ferry network that links to Singapore and the planned high-speed rail between Singapore and Malaysia.

Comment on the launch of Forest City Country Garden Datuk Md. Othman Haji Yusof, Executive Director of Country Garden Pacificview, said: “This is a historic day not only for Forest City Country Garden, but for Malaysia, our business partners, and, just as significantly, for the global real estate industry. Forest City Iskandar Malaysia project represents an unprecedented alliance of two powerhouses in the real estate, financial and construction industries, and signals a shifting of the sands for the futuristic township development. Forest City Country Garden also represents the perfect destination for work, play and live for a global generation in Iskandar Malaysia.”

Meanwhile Country Garden Pacificview Sdn Bhd executive director Datuk Daing A Malek Daing A Rahaman, who was present at the event, said the Forest City Iskandar Malaysia project would offer various opportunities to foreign investors.

“Besides its location along Johor Straits, its unique designs will attract foreign investors and offers opportunities to all,” he said.

Launched in 2013, Forest City Country Garden initial gross development project is RM450bil and is expected to create 220,000 job opportunities upon completion in 2035.

Forest City Iskandar Malaysia project, build on four man-made islands near Tanjung Kupang, has already received RM170bil worth of commitment investment.

About Country Garden Holdings Limited

Country Garden is one of China’s leading integrated property developers. It has standardised operations with business comprising property development construction, installation, fitting, property management, property investment, as well as hotel development and management. In addition, Country Garden has been named by the People’s Republic of China State Administration for Industry and Commerce as “China’s Well-Known Trademarks” in the property sector in 2006. The Group has over 20 years of experience in building large-scale townships and currently has more than 300 projects globally. Country Garden townships are known for high-quality construction, outstanding design, and state-of-the-art landscaping and five-star lifestyle facilities. Today, Country Garden is a top 10 real estate developer in China and is Forbes Top 30 listed companies in Asia.

About Forest City

The Forest City Iskandar Malaysia project is a 14km2 mixed-use development located at Iskandar Malaysia. Adjacent to the Malaysia–Singapore Second Link, it is a joint venture development between Country Garden and Malaysian partner Esplanade Danga 88 where Country Garden holds a 60 per cent stake. With a committed investment of approximately RM170 billion, it is composed of four reclaimed islands with the twin themes of ‘integrating businesses and the city’ as well as ‘urban innovation’. The Forest City Iskandar Malaysia aims to generate economic growth through eight key industries – tourism and meetings, incentives, conferences and exhibitions, healthcare, education and training, regional headquarters, near-shore finance, e-commerce service base in ASEAN, application of emerging technique and service centre, and sectors related to a green and smart city.

“We will develop apartments, villas as well as schools, hospitals, exhibition centre, and a financial special administrative region to achieve city-industry integration,” Mo said, adding that the developer’s intention is to create a multi-layer eco-city, which has been designed to locate vehicular traffic and light rail transport away from ground level. While the huge project is still undergoing reclamation and infrastructure work, Country Garden said pre sales of apartments in one island would kick off in the first half of this year and the average price would be 1,200 Ringgit per square foot.

“700 units have already received presale permits from the government,” said Jason Fu, regional head (Malaysia) of Country Garden.When asked whether China’s slowdown and foreign exchange control tightening would affect its sales, the Country Garden’s chief strategy officer Jeff Lin said: “Forest City Country Garden is targeting global buyers rather than Chinese investors.” He added that more than 50 per cent of Danga Bay Country Garden in Johor had been sold to buyers who are believed to be coming outside of China. With the unique location, Country Garden hopes this project will attract large number of homebuyers from Singapore and boost the regional economy, he said.

“Johor to Singapore is just like Shenzhen to Hong Kong,” Mo said. “Shenzhen’s development has given us great inspiration.” He expects affordable prices will make homes in Johor attractive to Singaporean buyers. The relationship between Singapore and Malaysia is getting more connected as a high- speed rail link between Singapore and Kuala Lumpur via Jorhar is expected to begin construction this year.

Alan Tan Wing Wton, a director, ASEAN & South Asia at the Singapore Business Federation said he looked forward to Country Garden’s lead in encouraging Singapore companies to look overseas and invest in Malaysia.

Initiated in 2013, Forest City Country Garden project faced many challenges at the beginning. The proposed massive reclamation raised concerns about its environmental impact from both sides of the border and was once suspended in 2014. The project restarted last January after obtained final approval from Malaysian environmental authorities after assessment.

As a part of Malaysia’s Special Economic Development Zone in Iskandar Malaysia, Southern Johor, Forest City Country Garden enjoys beneficial policies including preferential tax rates.

Ridership study to be conducted for Singapore-JB Rapid Transit System

The study is expected to start in early 2016 and be completed in the third quarter of the year.

SINGAPORE: The Land Transport Authority (LTA) is looking for a consultant to conduct a ridership study for the Rapid Transit System RTS project that is set to link Singapore and Johor Bahru.

A tender was called on Monday (Dec 7) and LTA said this is the next step in line with milestones for the rts jb project. The consultant will also provide commercial advisory services for a detailed study of the commercial and operating model for the rts JB Singapore project.

The study is expected to start in early 2016 and be completed in the third quarter of the year. The rts JB Singapore project was targeted to be ready by 2019, though LTA said the timeline is still being discussed by Singapore and Malaysia and will be announced when ready.

Singapore previously said its RTS JB terminus will be at Woodlands North Station, along the new Thomson-East Coast MRT line.

Malaysia has also confirmed its rts JB terminus will be sited at Bukit Chagar.

 

Source: http://www.channelnewsasia.com/