The HSR is estimated to save up to 1½ hours of travelling time as opposed to boarding a flight with a capacity to carry about 500 passengers in one sitting. The total estimated time for the 350-km journey from Kuala Lumpur to Singapore is two hours. It will provide two types of services – the first being an express service between Kuala Lumpur and Singapore, while the other is a transit service that will stop at all five proposed stations.
Nur expects the HSR to bring benefits to the quality of life, employment and talent opportunity in the areas it will serve.
“It is important to get the policies right in the first place, because once you create this magnet for business, you need to ensure the right businesses come in,” he says.
Among the potential industries identified to spur growth at the hubs along the corridor are bio-technology, tourism and healthcare, education, electronics and electrical, design and manufacturing.
“HSR hubs have the potential to create economic zones to support the Economic Transformation Programme (ETP).
Now, we have a chance to earmark these places to become industrial hubs, specialised hubs and clusters, as well as to start pushing those areas that have unparalleled mobility to both Kuala Lumpur and Singapore,” Nur says.
He adds that while the HSR project has been deemed costly by certain quarters, Malaysia cannot afford to go without it, especially since the country is aiming towards high-income-nation status.
“We have to look at the economic investment perspective in terms of the value it can generate and propel us towards high-income-nation status. We cannot afford not to do it,” he says.
This is apparent in China, which currently holds the longest HSR network in the world of about 10,000km in total, that has transformed the country in terms of higher productivity, new district developments and allowing businesses to reach bigger markets.
According to the recent ETP report, it is estimated that around 400,000 commuters will use the link daily once the rail is operational, as well as attracting multinationals who want to take advantage of the improved connectivity between the two countries.
The construction of the HSR is expected to add RM6.2bil to the gross national income and stimulate gross domestic product by 0.5% a year during the construction period, besides raising foreign direct investment in Malaysia.
Analysts are expecting the construction and property sector to gain the most from the HSR project.
“We should look beyond the construction benefits. The indirect advantages from the HSR are far greater,” says Nur.