Economic Affairs Minister Azmin Ali said Malaysia and Singapore are inching closer to a win-win solution for the Kuala Lumpur-Singapore High-Speed Rail (HSR) project.

This came after another meeting Azmin had with Singapore's Transport Minister Khaw Boon Wan.

"Further talks with Minister Khaw. We are inching closer to a win-win deal on HSR, thanks to the hard work of officials from both sides," Azmin said in a Twitter post.

He arrived in Singapore last night on a "tight schedule” during which he also met with Singapore Foreign Minister Vivian Balakrishnan.

"Had productive and frank exchange of views on a broad range of matters including geopolitical concerns. Discussed how best to take bilateral ties to the next level," Azmin said in a separate Twitter posting.

The two countries have been in continuous talks following the Pakatan Harapan government's intention to review the HSR project.

Azmin had revealed that the final cost of the project, including land acquisition, could go up to RM110 billion.

Putrajaya, which initially wanted to scrap the project, had indicated that it was open to a deferment and is looking to slash the high cost.

However, any deviation from the original agreement will entail compensation to Singapore as it is a bilateral project.

Negotiations on the new terms have begun since early this month.

Further talks with Minister Khaw. We are inching closer to a win-win deal on HSR, thanks to the hardwork of officials from both sides. #MEA pic.twitter.com/JubfMPrYNo

— Mohamed Azmin Ali (@AzminAli) August 30, 2018