MyHSR will start requesting proposals after mid January

The request for proposal (RFP) process will start after the completion of the request for information (RFI) process which has been extended to Jan 15, 2024, by MyHSR Corporation Sdn Bhd.

The RFI date extension from the original deadline of Nov 15, 2023, will enable the private sector, which has shown interest in building and managing the Kuala Lumpur-Singapore high-speed rail (HSR), to have more time to form consortia with their potential partners and source for funding choices.

“After the RFI period ends, the following process is the RFP. We expect more or less one month from the closing date, then the government will decide on the company that will undertake the (HSR) implementation,” said newly appointed Deputy Works Minister Ahmad Maslan.

Ahmad said this when winding up the Supply Bill 2024 debate for the Finance Ministry in the Dewan Negara today.

He said more than 30 industry-related companies including from China, Japan, South Korea, Europe, and local companies have expressed interest to be involved in the HSR project.

He also mentioned that there is a need for the HSR project to be implemented as soon as possible.

“We hope, if possible, next year it can start and it may take four to five years,” he said, adding that the cost of the project has increased.

“Previously, it was more or less RM70 billion, now it has gone up to RM100 billion,” Ahmad pointed out.

High-value goods tax

On the high-value goods tax, he said the Finance Ministry is in the last stages of finalising the policy and draft legislation following inputs received from engagement sessions that were held.

The policy and draft legislation will be formulated in detail so that it can be implemented in an orderly manner with the current taxation practices and not impact the economic activities and overall well-being of the people.

“Its threshold value and the types of products (to be taxed) will be announced once it is finalised by the cabinet. Hence, we will table the said policy and legislation in the Dewan Rakyat and then Dewan Negara,” he said, adding that it could be tabled in February or March next year.

- Bernama