Award Issued in Railway Land Arbitration between Malaysia and Singapore
THE HAGUE,
On 30 October 2014, the Arbitral Tribunal in the Railway Land Arbitration (Malaysia/Singapore) rendered its Award.
The arbitration was commenced pursuant to a Submission Agreement between Singapore and Malaysia dated 9 January 2012 and was conducted under the Permanent Court of Arbitration Optional Rules for Arbitrating Disputes between Two States.
The Arbitral Tribunal was composed of Lord Phillips of Worth Matravers KG, PC of the United Kingdom (as President), The Honourable Murray Gleeson AC, QC of Australia, and Judge Bruno Simma of Germany. The Permanent Court of Arbitration served as registry.
Pursuant to the Submission Agreement, the Arbitral Tribunal was called upon to interpret the Points of Agreement on Malayan Railway Land in Singapore entered into between the Parties on 27 November 1990 (the “POA”) and was requested to determine whether the joint venture between Malaysia and Singapore, M-S Pte Ltd, would have been liable to pay development charges in the amount of S$1.47 billion on three parcels of former railway land at Keppel, Kranji and Woodlands in Singapore if the said parcels had been vested in M-S Pte Ltd and if M-S Pte Ltd had actually developed the lands in accordance with the proposed land uses set out in the Annexes to the POA.
In its Award, the Arbitral Tribunal decided that development charges would not have been payable on the three parcels of land.
For information relating to this arbitration, click here.
For the Award, click here.
For the Joint Statement issued by the Parties following the release of the Award, click here or here.