Chapter 13. Singapore

This chapter provides the country background, regulatory framework, institutional framework, and changing nature of the PPP market in Singapore. It first considers the rationale, structuring, and implementation of a successful desalination project. Singapore has implemented many PPP water projects because of the lower risks of failure. The success factors include its regulatory framework, appropriate risk allocation, and stable revenues. The chapter then considers the rationale, structuring, and political risks of the proposed Kuala Lumpur-Singapore high-speed rail (HSR) project. The project was derailed by a change of the Malaysian government, the COVID-19 pandemic, and Malaysia’s proposal to replace AssetsCo, which was unacceptable to the Singapore government because of governance issues.