Stock News: Malaysia may sell Johor monorail stake to Singapore's SMRT

Singapore's SMRT Corp is seeking a stake in the 3 bln rgt Johor Baru monorail project, the New Straits Times reported, citing Rashidi Mohd Noor, chairman of Jalur Mudra Sdn Bhd, a special purpose vehicle created by the state government to build the monorail. Rashidi said SMRT is also interested in becoming a technology partner or project manager for the Johor Baru monorail. "The Johor government is open to SMRT's involvement. We are evaluating their proposal. We believe this is a win-win proposition," Rashidi was quoted in the report as saying. A line linking Johor Baru to Singapore is also under consideration, he added.