Keeping the Promise of Reform

On the 14th of May 2018, the Jeffrey Cheah Institute on Southeast Asia (JCI) hosted a public forum to discuss the outcome of the 14th Malaysian General Election, which heralded the first ever regime change in Malaysia’s history, as the erstwhile ruling coalition, which had enjoyed an uninterrupted reign since Malaya’s independence in 1957, was voted out of power.

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Caution and foresight necessary with ECRL

by: Andrew Fan, Senior Analyst at Jeffrey Cheah In­stitute on Southeast Asia

The East Coast Rail Link (ECRL) is a 688.3km-long double track rail system planned to be commissioned in 2024, which will connect Pengkalan Kubor in Kelantan on the east coast of peninsular Malaysia with Port Klang in Selangor on the west coast of peninsular Malaysia. The construction cost of this project is RM66.8 billion. However, after you consider financing costs, land acquisition, and other operational costs during development, the total project cost is expected to increase to RM80.9 billion. 85% of ECRL is funded by a loan from Exim Bank of China and 15% through the issuance of a sukuk guaranteed by the Malaysian government.

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