Malaysia, Singapore say every AssetsCo bid for HSR project will be assessed on own merits

KUALA LUMPUR (Jan 23): Malaysia's MyHSR Corp Sdn Bhd and Singapore's SG HSR Pte Ltd, who jointly held a briefing on the assets company (AssetsCo) tender for the Kuala Lumpur-Singapore High Speed Rail project (KL-Singapore HSR) today, assured every bid will be assessed on its own merits.

In a joint statement, the two entities said the tender aims to identify an AssetsCo which will provide solutions that prioritise safety and security, availability and reliability, proven technology, operations flexibility, customer-centric design, value for money, and collaborative project implementation with MyHSR Corp and SG HSR. 

"Every bid will be assessed on its own merits. MyHSR Corp and SG HSR welcome the interest of all companies, whether they are based in Malaysia, Singapore or overseas," the statement read.

MyHSR Corp CEO Datuk Mohd Nur Ismal Mohamed Kamal said both MyHSR Corp and SG HSR are heartened by participation from global HSR players, as well as local entities in the AssetsCo tender, which was jointly launched by the entities on Dec 20 last year.

"This briefing is aimed to help bidders understand the requirements and our expectations of them from this mega tender. We are pleased that the design of the tender specifications was done through an iterative process between MyHSR Corp and SG HSR with potential bidders through the market engagement exercises conducted in 2017. 

"As such, we are confident and look forward to receiving attractive proposals from bidders that will deliver the best value to both governments,” Mohd Nur Ismal said.

The AssetsCo tender briefing marks another step forward for the KL-Singapore HSR project and is a testament to the strong, collaborative partnership between MyHSR Corp and SG HSR, said SG HSR managing director Rama Venkta. 

“We are committed to an open, fair and transparent AssetsCo tender, and look forward to finding the right partner, one who can meet our requirements and procurement standards, and deliver innovative solutions for this landmark project,” Venkta added.

The AssetsCo, according to the statement, will be responsible for designing, building, financing and maintaining of all rolling stock and rail assets — it will also be operating the latter. In addition, the AssetsCo will manage the system’s network for operations, as well as its maintenance needs. — theedgemarkets.com

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