KL-SG HSR RFI Briefing Attracts Over 700 Local and International Participants
Kuala Lumpur, 27 July 2023: The Kuala Lumpur-Singapore High Speed Rail (KL-SG HSR) Request For Information (RFI) briefing received an overwhelming response from over 700 representatives from local and international companies, as well as foreign missions, today. Hosted by MyHSR Corporation Sdn Bhd (MyHSR Corp) at the auditorium of the Ministry of Finance in Putrajaya, the briefing provided an overview of the RFI process, including the timeline for local and international firms as well as consortia to submit concept proposals for the KL-SG HSR project based on a public-private partnership model.
The concept proposal stage will start from the distribution of the RFI Documents from 11 August up to the closing date of 15 November for the submission.
During the briefing, MyHSR Corp shared that the project structure would be based on the Design-Finance-Build-Operate-Transfer (DFBOT) model, and participating firms and consortia must demonstrate the ability to develop this project with a proven track record, technical expertise, resources, and project management capabilities in order to complete this major infrastructure development within the budgeted cost, quality, and time.
The Kuala Lumpur-Singapore high-speed rail (HSR) project cannot be funded entirely by the private sector as the high levels of capital investment required make such an endeavour unfeasible, transport experts said.
Historical precedents, including the Putra LRT in Malaysia, show that relying solely on private sector funding for such projects can lead to financial difficulties that necessitate government intervention. So a fully private-funded model appears to be impractical and high risk,” the former land public transport commission (SPAD) official told
MyHSR Corporation Sdn Bhd said the project could be funded fully by the private sector, despite being developed and operated through a public-private partnership (PPP).
When contacted, a MyHSR spokesman said the PPP for the project could take different forms depending on the level of the government’s contribution towards project cost.In this sense, PPPs can be fully privately funded if the projected revenue collection over the concession period exceeds the total project cost and profit margin on a net present value basis
Wan Agyl said the concept of a PPP transcended monetary contributions and was a strategic alliance that sought to harmonise the strengths of both public and private entities.Even when the financial onus is entirely on the private sector, the public sector remains an invaluable stakeholder. It often steps in to streamline processes like land acquisition, obtaining regulatory permissions, assuring potential revenue streams or alleviating certain associated risks
the government is appearing to target a model that is entirely funded by the private sector, it remained to be seen whether the private sector could bear the costs. Meanwhile, transport consultant Rosli Khan said the project, although very ambitious, was not feasible. Cost of borrowing, interest charges, exchange rates and other associated costs will be high. My calculations do not generate positive numbers, so I can’t see positive returns on investment
Datuk Seri Azmi Abdul Aziz, CEO of YTL Construction (Rail Division), said the briefing was very well prepared, with proper and relevant references from all over the world.
UBS GROUP AG, Switzerland (Sub. S-hldr's Int) only disposed off 3,662,100 shares compared with the number of shares that they are still having, i.e. 575,250,091 shares (5.247%). This was announced on 27/07/2023 at 07:00:01 AM
YTL Corp's flagship construction arm is 100%-owned SPYTL Sdn Bhd, a "Class A" Malaysian Turnkey contractor, which completed approximately RM7.25 billion worth of contracts on schedule and on budget. It is currently involved in the Gemas-JB double track project
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PRESS RELEASE
KL-SG HSR RFI Briefing Attracts Over 700 Local and International Participants
Kuala Lumpur, 27 July 2023: The Kuala Lumpur-Singapore High Speed Rail (KL-SG HSR)
Request For Information (RFI) briefing received an overwhelming response from over 700 representatives from local and international companies, as well as foreign missions, today. Hosted by MyHSR Corporation Sdn Bhd (MyHSR Corp) at the auditorium of the Ministry of Finance in Putrajaya, the briefing provided an overview of the RFI process, including the timeline for local and international firms as well as consortia to submit concept proposals for the KL-SG HSR project based on a public-private partnership model.
The concept proposal stage will start from the distribution of the RFI Documents from 11 August up to the closing date of 15 November for the submission.
During the briefing, MyHSR Corp shared that the project structure would be based on the Design-Finance-Build-Operate-Transfer (DFBOT) model, and participating firms and consortia must demonstrate the ability to develop this project with a proven track record, technical expertise, resources, and project management capabilities in order to complete this major infrastructure development within the budgeted cost, quality, and time.
https://www.myhsr.com.my/clients/MyHSR_C9A9D510-C802-4FEA-8DC3-05EA13351D53/contentms/img/press_releases/[Press%20Release]%20MyHSR%20Corp_RFI%20Briefing_ENG.pdf