KL Acquisition Corp (KLAQ)


Stock Price Forecast

Dec. 19, 2022


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About the Company

The Kuala Lumpur–Singapore high-speed rail (HSR) is a proposed railway project to link Kuala Lumpur, Malaysia to Singapore via a high-speed rail line. It was first proposed by then Malaysian Prime Minister Najib Razak in September 2010. Singapore Prime Minister Lee Hsien Loong formally agreed to the joint project in February 2013, with the HSR originally expected to be completed by 2026. The 2018 Malaysian general election resulted in the defeat of Najib Razak, with his successor Mahathir Mohamad initially announcing that the project would be scrapped. Nevertheless, during a visit to Japan on 12 June 2018, Mahathir said that the project would merely be postponed due to high costs. On 5 September 2018, it was announced that the HSR operations would start in January 2031.Malaysia subsequently underwent a second change in government in the aftermath of the 2020 political crisis, with the Perikatan Nasional coalition coming to power and Muhyiddin Yassin becoming prime minister. A further time extension was requested to review the project, with Singapore agreeing to a deadline of end-2020. The two governments subsequently failed to reach an agreement to continue the project and terminated it on 1 January 2021 in a joint statement.After 2 years of cancellation, the project has reportedly been revived and the Malaysian government is currently seeking for proposals to restart the project.The proposed HSR line is 350 km long and is expected to reduce travel time between Kuala Lumpur and Singapore to 90 minutes. It would start from Bandar Malaysia in Kuala Lumpur and connect to other cities such as Malacca and Seremban along the west coast of West Malaysia en route to Jurong East in Singapore.

Exchange

NASDAQ

$M

Total Revenue

None

Employees

$354M

Market Capitalization

75.62

Price/Earning ratio

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Latest $KLAQ News

Israeli arms company Elbit 'forced to sell’ Tamworth factory in UK

18h ago, source: Anadolu Ajansi

Victory is a direct result of sustained direct action which has sought ... to make it impossible for Elbit to afford to ...

Jentayu secures SC approval for acquisition of Telekosang Hydro and Jentayu Solar assets

7h ago, source:

Main Market listed Jentayu Sustainables Bhd has received key approval with conditions from the Securities Commission Malaysia ...

Planetcast Expands OTT Solutions with Acquisition of Switch Media

2d ago, source: TV Technology on MSN

The acquisition of one of its key tech partners help its international expansion with clients across APAC, Southeast Asia, ...

Sime Darby completes 100% UMW acquisition for RM5.8bil

8d ago, source: Free Malaysia Today

The UMW Holdings acquisition is in line with Sime Darby’s five-year master plan to grow its core industrial and motor ...

Sime Darby completes UMW Holdings acquisition

7d ago, source: CarSifu

Sime Darby Bhd has completed its acquisition of UMW Holdings Bhd, achieving full ownership and making UMW a wholly-owned ...

Asia's leading tech company to partner with Nagad

22h ago, source:

Southeast Asia's first tech billionaire Goh Peng Ooi has expressed his keen interest in partnering with Nagad, a leading ...

Exclusive Networks announces a major step in its growth strategy in APAC with NEXTGEN Group acquisition

1d ago, source: Malaysia Sun

Exclusive Networks (Euronext Paris: EXN), a global leader in cybersecurity, announced the signature of a binding agreement for the acquisition of 100% of the share capital of NEXTGEN Group ("NEXTGEN") ...

Penang Development Corporation unveils RM5b strategic plan

4d ago, source: malaymail on MSN

Penang Development Corporation (PDC) today unveiled an ambitious strategic plan for the next five years that included ...

Trump’s Social Media Company Is Set to Trade Tuesday on Nasdaq

3d ago, source:

Shares of the blank-check company merging with former president Donald Trump’s social media startup surged 35% Monday, after the combined firm announced it is set to begin trading Tuesday, potentially ...

FB Management Inspiration Tour in ASEAN: Malaysia KL Business Session with FITOKIO's General Manager

7d ago, source: Thailand Business News

FB Management Group organized a business session and tour for Japanese business owners in Thailand, Malaysia, and Indonesia, ...

ASML supplier Neways to build new plant in Malaysia

on MSN ago, source:

Neways, a key supplier to Dutch computer chip equipment maker ASML, said on Friday it will build a new plant in Klang, ...

Energem Corp. Announces Shareholder Approval of Business Combination with Graphjet Technology

13d ago, source:

Shareholders of Energem Corp. Approve Business Combination on February 28, 2024 ~ ~ Upon Closing, the Combined Company is Expected to Trade on Nasdaq Under the Ticker "GTI" ~ Kuala Lumpur, Feb. 28 ...

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