Now that the issue of taxes on former Malayan Railway land has been resolved, Singapore and Malaysia can move on to work on future projects that will benefit both countries, said Foreign Affairs and Law Minister K Shanmugam on Sunday (Nov 2).
An international tribunal had ruled that Malaysia-Singapore joint investment company – M+S Pte Ltd – will not have to pay development charges on land formerly occupied by Malayan Railways (KTM) in Singapore.
The issue had gone before the tribunal after Prime Minister Lee Hsien Loong and his Malaysian counterpart Najib Razak said in 2010 that the countries had different views on the matter.
Mr Shanmugam said: “We are doing so many other things together. That’s the real point. It’s benefiting both the people of Malaysia and Singapore. We have developments now and joint venture in Iskandar, they have (theirs) here – all being done together. It encourages people-to-people movement and more commercial activities. And really, two countries, being such close neighbours, we have to find sensible ways of moving ahead.”
Mr Shanmugam, who is also an MP for Nee Soon GRC, was speaking to reporters at the Active Ageing Carnival in his constituency.
Source : Channel NewsAsia – 2 Nov 2014