Malaysia and Singapore will sign a bilateral agreement on the development of the Johor Bahru-Singapore Rapid Transit System (RTS) Link, this December.

Minister in the Prime Minister's Department Datuk Seri Abdul Rahman Dahlan said the decision was reached at the 13th Malaysian-Singapore Joint Ministerial Committee of the Iskandar Malaysia (JMCIM) meeting here on Monday.

"Among the technical issues that have been decided by both countries is the RTS concession payment split of 39 per cent for Malaysia and 61 percent for Singapore for 50 years," he told reporters after the meeting.

The meeting was also attended by Johor Menteri Besar Datuk Seri Mohamed Khaled Nordin, Singapore's Transport and Infrastructure Minister Khaw Boon Wan and Singapore's National Development Minister Lawrence Wong.

Abdul Rahman said Malaysia had also requested that the allocation be 50 per cent of Malaysia and 50 per cent of Singapore after the concession payment cost was fully paid, but the matter had not yet been decided as Singapore had to make further discussions on their part.

He said Singapore would receive 61 per cent of fare payment as the republic had to spend more on RTS construction including building underground stations.