MALAYSIA has yet to inform Singapore “officially” of its plans for the high-speed rail project linking Kuala Lumpur with the island republic, said Prime Minister Dr Mahathir Mohamad today. 

“But they know what we want,” Dr Mahathir, who celebrates his 93rd birthday today, said. 

He, however, declined to elaborate on what these wants were. 

He said Malaysia had to consider carefully before making any official announcements as it could spook the market. 

Debate is swirling in Singapore over incurring costs for the HSR project and its current state of limbo pending any official word from Malaysia.

“Decisions are not so easily made. When we decide on something and announce it, the markets react negatively. 

“Even when we have discovered wrongdoings, the market reacts with people taking out their money. 

“That’s why we have to be very careful with what we say,” said Dr Mahathir. 

Dr Mahathir was responding to a statement by Singapore Transport Minister Khaw Boon Wan yesterday that there had been no official notification from Malaysia on the cancellation of the mega project.

Khaw reportedly said Singapore continued performing in accordance with the bilateral agreement signed in December 2016 and had incurred more costs.

Last month, Singapore incurred more than S$6 million (RM17.7 million) for the project and was expected to incur the same amount this month, he said.

“Because the costs that we have incurred will add to the total amount of compensation, it is in Malaysia’s own interest to officially inform us of its position on the HSR project early, to minimise the amount involved,” he said.

Singapore has spent more than S$250 million on the project, based on preliminary estimates. – July 10, 2018.