Malaysia’s king is planning to seek funding from Chinese investors for a multibillion dollar high-speed rail project between the Southeast Asian country and Singapore, according to people familiar with the matter.

Malaysia's Sultan Ibrahim will visit China for a four-day visit, China's foreign ministry said on Wednesday, with the ceremonial ruler from the southern state of Johor likely to seek support to revive projects boosting its connectivity to neighbouring Singapore.

Malaysia announced on Friday tax breaks and incentives for the troubled Forest City development, a $100 billion project backed by Chinese developer Country Garden Holdings, in a bid to lure investments and spur economic growth in the area.

The government is also offering lower income tax rates for foreign workers as well as concessionary corporate tax rates to attract international firms.

Malaysia is offering 0% tax rate for family offices to set up shop in its struggling mega-project Forest City, as it looks to revive investor interest in the $100 billion development near its border with Singapore.