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Kuala Lumpur: Malaysia has paid S$102.8 million (RM320.27 million) to Singapore for costs incurred for the development of the Kuala Lumpur-Singapore High-Speed Rail (HSR) project, and in relation to the extension of its suspension.

The two countries reached an amicable agreement on the amount following a verification process by the Malaysian government.

This amount represents a full and final settlement in relation to the termination of the Bilateral Agreement on the HSR project on December 31, 2020, Malaysia’s Minister in the Prime Minister’s Department (Economy) and Singapore’s Minister for Transport said in a joint statement here. Both countries remain committed to maintaining good relations and fostering close cooperation for the mutual benefit of the peoples of the two countries, the statement said.