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Malaysia, Singapore to sign bilateral agreement on Rapid Transit System this December

ISKANDAR PUTERI: Malaysia and Singapore will sign the bilateral agreement on the Rapid Transit System (RTS) in December this year.
Minister in the Prime Minister’s Department Datuk Seri Abd Rahman Dahlan said the matter was agreed upon during the Joint Ministerial Committee for Iskandar Malaysia (JMCIM) meeting today.
"We welcome the good progress of commercial, technical and regulatory discussions and look forward to the signing of the bilateral agreement by December 2017.
"Among the issues discussed at the meeting were Malaysia's request to become the dominant shareholder in the operator of the RTS, with a 51 per cent stake, instead of both countries having a 50 per cent stake each.
"This is a matter of practicality because the operator would operate more effectively with one party having the majority stake," said Rahman.
He said both governments have also agreed to a split of 69-39 on the concession fee for the RTS, with Singapore receiving the majority of the fee.
"Singapore is receiving the majority of the fee because the cost of the infrastructure development in the country would be higher as it involves building underground stations," said Rahman.

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