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SINGAPORE: Malaysian Prime Minister Najib Razak will be in Singapore next month for further talks with his Singapore counterpart, Mr Lee Hsien Loong.
This was announced in a joint statement by the foreign ministers of both countries, after officials from both sides met Thursday and Friday in Singapore for the Second Meeting of the Malaysia-Singapore Joint Implementation Team (MSJIT).
The team discussed the implementation details arising from the agreement reached between the two prime ministers at the leaders' retreat on May 24 this year.
Both sides had fruitful discussions and were pleased with the progress achieved so far.
They agreed that the next Joint Implementation Team meeting will be held after Prime Minister Najib's visit to Singapore, which is due after Hari Raya Puasa.
During their retreat in May, the two leaders agreed that the Keretapi Tanah Melayu Berhad (KTMB station), currently in operation at Tanjong Pagar, will be re-located to the Woodlands train checkpoint by July 1, 2011.
Malaysia will co-locate its railway and Customs, Immigration and Quarantine (CIQ) facility to the Woodlands train checkpoint.
Both countries also announced that a company known as M-S Pte Ltd will be set up.
Malaysia will hold a 60 per cent stake under Khazanah Nasional Berhad while Singapore will have 40 per cent shares to be held by Temasek Holdings.
Three parcels of land in Tanjong Pagar, Kranji and Woodlands, as well as three pieces of land in Bukit Timah will be vested by M-S Pte Ltd for joint development which in turn could be swapped on the basis of equivalent value for pieces of land in Marina South and/or Ophir-Rochor.
-CNA/wk
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