Malaysia is cancelling a project to build a high-speed rail link between its capital, Kuala Lumpur, and Singapore, and will talk with its southern neighbor about any compensation Malaysia has to pay, Prime Minister Mahathir Mohamad said on Monday. The announcement came amid China and Japan ramping up public lobbying efforts with Singapore and Malaysia as they gun for the multibillion-dollar contract to develop a high-speed train link between the Southeast Asian neighbors. Malaysia’s new Finance Minister Lim Guan Eng on Thursday gave a breakdown of government debt and liabilities exceeding 1 trillion ringgit ($251 billion), a figure that has fueled market worries.