Written by Lawrence Low
KUALA LUMPUR (Politics Now!) - The announcement by Prime Minister Dato’ Seri Anwar Ibrahim to revive the Kuala Lumpur-Singapore High Speed Rail (HSR) is welcome as it will be a win-win decision which will usher in a host of golden opportunities for both countries. In particular, this track will generate an estimated annual income of US$1 billion and 70,000 jobs for Malaysia.
The KL-Singapore HSR plan was initially proposed by the then Barisan Nasional federal government led by former premier Dato’ Seri Najib Razak. Inspired by cross-border HSR in Europe and China, this railway line will expand exchanges between residents from across different regions, and thereby, effectively escalate the economies of both countries. Unfortunately, after the change of federal power in 2018, this project was shelved and terminated by the then government. Now that the Jakarta-Bandung HSR in neighbouring Indonesia is open for commuting, Malaysia should boost the economic development of our country and surrounding regions.
According to research data from the Japan Institute of Economic Research (IDE), once the KL-Singapore HSR is opened for travel, Malaysia will earn US$1 billion (approximately RM4.613 billion) in revenue every year. If it is axed, Malaysia is expected to suffer losses of approximately RM209 billion in gross national income (GNI) and 70,000 jobs. Any cancellation of the KL-Singapore HSR project will be a decision where losses will outweigh the gains. Fortunately, the government has now decided to resume the project, and MCA fully supports this decision.
Meanwhile, barbs by DAP former Publicity Secretary Tony Pua against the construction of the KL-Singapore HSR need to be repudiated.
Prosper thy neighbour!
Tony Pua is urged to view the decision to revive the KL-Singapore HSR from a long-term and macro perspective as this mega-scale project is also a long-term investment. Once completed, it will yield dividends for the economies of both countries in the next few decades, much higher than what may be observed in the short term.
As mentioned above, the KL-Singapore HSR is a mega-scale project which will mutually benefit both countries. Once the route is open for travel, this project will drive the economic development of the surrounding regions of both countries. Therefore, Tony Pua should refrain from relying blindly on cost. Instead of opposing, he should appraise plans for the HSR from a long-term and macro perspective.
Otherwise, he will need to live with his conscience as having gone down the rails of history as the one who hindered the development and progress of Malaysia.
Written by Lawrence Low, MCA Vice President and MCA Economic and SMEs Affairs Committee Chairman
Politics Now!
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