NONE Launching a mega project without a completed feasibility study is highly unusual, to say the least. And the lack of one for the Kuala Lumpur-Singapore high speed rail (HSR) link is a point contention for many.

Without a complete set of hard facts and figures readily available, and open to debate and discussion, it is hard to draw a comprehensive picture on the viability and practicality of the project.

This is why many Malaysians have been left wondering whether the government is undertaking another massive project without doing its homework.

The Land Public Transport Commission (SPAD) says it is currently in the final stage of the HSR Phase 1B feasibility study and it expect it to be completed by June 2013. Why the announcement could not wait another four months is anyone's guess.

Therefore most analyses on this mega project have so far been based on snippets released by SPAD and through the study of international feasibility reports for an idea of some of the factors that come into play in a project such as this.

SPAD has said it is looking very closely at ringgit and sen issues to see what the best financing structure might be. It is also looking to see how it can capitalise upon potential revenue streams, including from patronage of the rail link itself.

When deciding to build a HSR link, an obvious question is whether the country can afford it in the first place. But the more important question might be whether the country can maintain it, both in terms patronage and upkeep in the long term.

Economists have also identified this as a key concern and are keen to point out the close correlation between the financing structure and eventual affordability of the link to travellers.

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