In May, the suspension was extended another six months to allow discussion of changes to the project.
Malaysia had proposed several changes to the project but was unable to reach an agreement with Singapore on them, according to a joint statement from Malaysian Prime Minister Muhyiddin Yassin and Singapore Prime Minister Lee Hsien Loong.
"Both countries will abide by their respective obligations, and will now proceed with the necessary actions, resulting from this termination of the HSR agreement," said the statement, released by Muhyiddin's office.
Separately, Singapore's transport ministry said Malaysia has to compensate it for costs incurred in fulfilling its obligations under the agreement.
The countries did not state how much Malaysia would have to pay.
Construction on the rail link had been scheduled to commence in May 2020, with operations to begin in January 2031.
Companies from China, Japan, South Korea and Europe had expressed interest in winning contracts to build, operate and finance the trains and rail assets, people close to the bidding process previously told Reuters.
(Reporting by Aradhana Aravindan in Singapore and Rozanna Latiff in Kuala Lumpur; Editing by Kim Coghill)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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