The three main agreements concern the bilateral RTS Link agreement between the two governments, the joint enterprise agreement between SMRT Corporation of Singapore and prasarana Malaysia in Malaysia for the creation of a joint operating company and a concession agreement between the two governments to designate the operating company as the operator of RTS Link. On April 1, 2019, Malaysia announced its intention to proceed with a six-month suspension to reassess key project parameters, with a focus on reducing implementation costs. The following week, on April 8, 2019, a joint press conference of Transport Ministers Loke Siew Fook and Khaw Boon Wan announced that a “complementary agreement” would be drawn up to temporarily suspend the project for six months. “We have agreed to extend the bilateral talks by three months, until 31 July 2020, when the previous deadline expires on 30 April. The companies have committed to join the joint venture by June 30, 2018 and to sign the concession agreement by September 30, 2018. Concessions will be awarded in the context of an open tender,” he said. KUALA LUMPUR – Malaysian Transport Minister Wee Ka Siong announced Saturday (May 2nd) that the deadline for the bilateral agreement for the Johor Baru-Singapore Rapid Transit System (RTS) Link project has been extended by three months, until July 31. On 16 January 2018, the pioneering bilateral agreement between the governments of Singapore and Malaysia was signed to continue the RTS Link project. This legally binding agreement highlighted key points of the RTS agreement, including technical, security and security requirements, trade, financing, public procurement and regulatory frameworks, as well as customs, immigration and quarantine rules. Following the negotiations, Singapore and Malaysia will seal the agreement with three agreements on 30 July: SINGAPORE: A legally binding agreement between Singapore and Malaysia will bring Johor Baru`s Rapid Link transit system closer (RTS Link). The additional agreement was signed on May 21, 2019 and Malaysia paid $600,000 in demolition costs to Singapore. A new date until September 30, 2019 was inoculated, after which the project was to continue.
Malaysia would have to pay more than $66 million if it decided by then to end the RTS Link project. The cross-border project is expected to begin in early 2021 and be completed by the end of 2026. Three agreements needed to resume the project have been reached, including one amending the bilateral agreement on the RTS link between the two governments. Under the agreement, OpCo will be a joint venture between a Malaysian company and a Singaporean company for the first 30-year concession period. “It covers key points of the agreement on the RTS Link project, including technical, security, business, financial, purchasing and regulatory frameworks, as well as customs, immigration and quarantine rules,” the press release continued. The agreement is the result of extensive discussions by SPAD and AEAS officials.