Deal on KTM land swop
By Lydia Lim, Sep 20, 2010.
SINGAPORE and Malaysia have agreed on a revised land swop deal on the Malayan Railway land following breakthrough talks between the leaders of both countries on Monday.
Malaysian Prime Minister Najib Razak accepted offer by Singapore for four land parcels in Marina South and two pieces in Orphir-Rochor in exchange for three parcels of KTM land in Tanjong Pagar, Kranji and Woodlands, and three pieces in Bukit Timah.
M-S Pte Ltd, a 60-40 joint venture between Khazanah Nasional Bhd and Temasek Holding, will handle the six Singapore land land parcels for joint development when KTM vacates the Tanjong Pagar railway station to the Woodlands train checkpoint by July next year. Malaysia will also co-locate its railway Custom, Immigration and Quarantine (CIA) facilities to the Woodland checkpoint.
Source: Straits Times