Berjaya's Vincent Tan Urges Local Companies To Joint HSR Consortium After MRCB Makes Exit

KLANG, Jan 17 (Bernama) — Berjaya Corporation Bhd has urged local companies to be part of a consortium for the Kuala Lumpur-Singapore high-speed rail (KL-SG HSR) project.

The Berjaya-led consortium by founder and adviser Tan Sri Vincent Tan is seeking local companies to be part of the group following Malaysian Resources Corporation Bhd (MRCB) terminating the cooperation agreement.

“Perhaps, another big group may come in. We don’t know who will join us.

“We will negotiate with any interested parties. We prefer to have Malaysian (companies),” he told reporters after a visit to Pulau Ketam here today.

The KL-SG HSR consortium includes Berjaya Rail Sdn Bhd, Keretapi Tanah Melayu Bhd, IJM Corporation Bhd, and technical partners such as Germany's national railway company Deutsche Bahn, Hitachi Rail, and South Korean rolling stock manufacturer Hyundai Rotem.

Tan said the government’s decision on the KL-SG HSR project may be revived if there is full private sector participation; with the right approach being minimal government involvement.

“The HSR is expensive. What the government is doing is correct. It is looking at the country’s financial situation. So a responsible government will do its due diligence carefully and not just spend (the money). It will instead evaluate it well and consider the country’s needs,” he said.

The KL-SG HSR project is estimated to cost RM100 billion.

— BERNAMA