katie silva joins me now. what's the reaction from singapore, have they been informed?ey were not informed? it appears they were not informed ahead of time. that is what the head of transport has said here. last night he made similar comments. what is this high—speed rail is supposed to do? it was a 350 kilometre path that was meant to link kuala lumpur to singapore. 90% of it is in malaysia, and it was going to cut the journey from five hours overland to 90 minutes. it would make it a lot shorter. the issue is, the cost. it will cost about 15 billion us dollars. last night those comments were made at the press conference and it came down to the issue of cost against return. construction was about to start? it was, but this is what he had to say. this will cost us a huge sum of money. it would make no money at all, it is a short track, it's only one hour. there is another sticking point, compensation. it was 127 million us dollars, agreed in 2016 when they agreed on that deal. and this is all part of the prime minister's fiscal discipline. by cutting this, they will be

katie silva has more, what are they looking for? it is the behaviour of the family that owns it.pay capital gains tax, around 9 million us dollars. the owners, they are one of the richest in asia and they are what is known asafamily in asia and they are what is known as a family that owned a conglomerate of assets and they are increasingly under the spotlight. the government has promised to reform them. and he says he wants the governance to be more transparent and he wants competition to be more fair. the most notorious is this family which owns korean air and the behaviour of them in recent times has caused protests in recent weeks, sally. thank you very much, katie. looking and markets in general, japan down by almost 0.5%. in asia, they are trying to digester that broke late on tuesday in the us about their intentions to pull out of the iran nuclear deal, what does it mean for oil in the middle east, what does it mean for trump's visit to north korea, which is very soon and his talks with kim jong—un there. there are a lot of questions are not many answers. let's look at euro