News by Chester Tay

Dr Mahathir said the details in operating the railway, which is estimated to be completed in 2026, has yet to be ironed out.

"The PH Government was faced with the choice to either renegotiate or pay termination costs of about RM21.78 billion, with nothing to show for it. As such, we chose to go back to the negotiation table and call for a more equitable deal, whereby the needs of the Malaysian people would be prioritised."

"In the original document there was nothing about Malaysian share of the construction, but now we include also the participation by Malaysian side in the construction of the rail."

"RM500 million will be refunded within a week from Apr 12, 2019 and a further RM500 million within a month from Apr 12, 2019, or a total of RM1 billion.

"The balance will be settled within three months after deductions for verified claims due to abortive works, suspension and cancellation of the northern extension."

"Normally we don't enter into agreement or contract that we have to pay according to timeline, I suppose that has to be dropped, it must be based on work progress."

Dr Mahathir said the loan will be reduced substantially as the ECRL's cost of construction has been decreased.

The lower cost required for the construction of the ECRL was due to "comprehensive value engineering exercise and a new southern alignment".

Now that ECRL is approved, investors may be tempted to take profit.

"As Minister of Home Affairs, I have directed the police to investigate this professionally and without fear or favour."

Khalid also said any redevelopment in Malaysia requires 100% agreement from existing owners. "In other countries, properties that are less than 10 years old only require 90% agreement, and those above 10 years only require 80% agreement, so the new law will address all these issues," he said.