Putrajaya (The Star/ANN) - Malaysia and Singapore sealed an agreement which among others will see the implementation of joint venture projects between their investment arms and the development of a rapid transit system (RTS) between Johor and Singapore.
Malaysian Prime Minister Najib Tun Razak and his Singapore counterpart Lee Hsien Loong described the agreement as a breakthrough under an enhanced Points of Agreement (POA).
The two leaders met in May last year in Singapore to break the deadlock over the POA on the status of KTM land in Singapore.
An agreement was signed in the federal administrative capital to allow for the implementation of the projects agreed by both countries.
The agreement was signed by Minister in the Prime Minister's Department Nor Mohamed Yakcop for Malaysia while Foreign Affairs and Law Minister K. Shanmugam represented Singapore. Transport Minister Kong Cho Ha and Johor Mentri Besar Datuk Abdul Ghani Othman were also present.
A joint statement issued by the leaders said Singapore would facilitate the relocation of the KTM station from Tanjung Pagar to Woodlands and ensure bus and taxi service connectivity to the new station for passengers.
M+S Pte Ltd, a company of which 60% is held by Khazanah Nasional Berhad and 40% by Temasek, will develop four land parcels in Marina South and two land parcels in Ophir Rochor as an integrated development.
A 50-50 joint venture company established by Khazanah and Temasek (Iskandar JVCo) will undertake two development projects in Iskandar Malaysia.
