Malaysia's King to seek funds for high-speed rail on China visit, say sources

Malaysia's King, Sultan Ibrahim Iskandar, is planning to seek funding from Chinese investors for a multibillion-dollar, high-speed rail project between Malaysia and Singapore, according to people familiar with the matter.

He is looking for investments from a Chinese state-owned company, the people said, asking not to be identified because the information is private.

Chinese President Xi Jinping, whose Belt and Road Initiative has fueled an infrastructure boom across Asia and Africa, invited the King for a four-day state visit that began on Sept 19 to deepen strategic ties.

Sultan Ibrahim's delegation includes representatives of YTL, the people said. The Malaysian company is one of the three groups shortlisted for the project, The Edge Malaysia reported in March.

YTL executive chairman Francis Yeoh told Bloomberg TV in November it was interested, while stopping short of confirming its participation in the bidding process.

Sultan Ibrahim has been a long-time backer of the rail link, which Malaysian Prime Minister Anwar Ibrahim's government revived in 2023 with a caveat that it would not be funded by taxpayers.