Daily Briefing: Malaysia pays Singapore $15m for HSR project suspension; Waste management firm Reclaims Global eyes Catalist listing

And here's how those who missed out on the Pioneer Generation Package can qualify for the Merdeka Generation Package.

From Yahoo! News Singapore:

Malaysia remitted $15m to Singapore as payment for the costs incurred by the suspension of the Kuala Lumpur-Singapore High Speed Rail (HSR) project, Singapore’s ministry of transport (MOT) revealed.

The payment was agreed upon by both countries in September 2018, when they signed an agreement to postpone work on the HSR for about two years, up to May 31, 2020.

Both sides have committed to resume work on the project by the end of May 2020, failing which it will be deemed to be terminated. In that event, Malaysia will bear the costs incurred by Singapore in fulfilling the HSR agreement.

Read more here.

From Deal Street Asia:

Waste management firm Reclaims Global filed a preliminary prospectus with the Singapore Exchange (SGX) for a listing on the Catalist board.

The company plans to use the net proceeds from its IPO to fund its expansion plans and enhance its recycled product range. It is also planning to explore joint ventures (JVs) and strategic alliances. Its business is divided into three main segments, recycling, excavation services, and logistics and leasing.

The company disclosed in its prospectus that its order book for the excavation services segment amounted to approximately S$8.1 million ($6.01 million), which would be recognised as revenue for the Group up to the financial year ending January 31, 2021.

Read more here

From Channel News Asia:

Singaporeans born in 1949 and earlier and had obtained citizenship by 31 December 1996 but had missed out on the Pioneer Generation Package will qualify for the Merdeka Generation Package, prime minister Lee Hsien Loong revealed.

"Ministers Heng Swee Keat and Gan Kim Yong will announce the details in Parliament later this month, so I shall not steal their thunder," Lee said. “But I can tell you without giving away any secrets that it is a substantial package, and will go some way to helping you with your medical expenses, and to expressing the nation’s gratitude to the Merdeka Generation."

During last year's National Day Rally, Lee explained that the package would include the likes of outpatient subsidies, Medisave top-ups, premium subsidies for the MediShield Life insurance scheme and payouts for long term care.

Read more here.

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