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MyHSR Corporation Sdn Bhd (MyHSR Corp) has successfully completed two separate open tender exercises to appoint its Technical Advisory Consultant (TAC) and Commercial Advisory Consultant (CAC) for the Kuala Lumpur – Singapore High Speed Rail (KL-SG HSR) project.
Both the TAC and CAC tender exercises were open to all qualified companies with relevant expertise and experience over a period of three months between April and June 2019.
Upon careful evaluation and completion of the tender process, MyHSR Corp has appointed Minconsult Sdn Bhd and Ernst & Young (EY) as the TAC and CAC respectively.
Minconsult Sdn Bhd is a Malaysian multi-disciplinary engineering and project management firm with experience in numerous local railway projects. Minconsult’s railway portfolio encompass feasibility studies, detailed engineering design services, preparation of specifications, tendering, project management, construction supervision, as well as testing and commissioning.
EY is a global firm of financial advisors and consultants. EY’s infrastructure team has extensive experience working with private and public sector organisations on business case and project development strategy, economic analysis, provision of commercial and procurement advice and raising finance on complex rail and HSR projects.
MyHSR Corp and its TAC and CAC will now proceed to review the proposed changes to the KL-SG HSR Project and further identify cost reduction options for the Government of Malaysia.
The TAC will focus on the engineering aspects of the project by reviewing and validating the proposed infrastructure design changes within Malaysia such as the alignment, stations, and train maintenance facilities.
The CAC will focus on commercial aspects such as developing new business models, identifying funding and financing options, updating the ridership forecast, and updating the economic benefits the project will bring to Malaysia.
“The appointment of TAC and CAC is a major step in the effort to develop an affordable KL-SG HSR,” commented Dato’ Mohd Nur Ismal Bin Mohamed Kamal, CEO of MyHSR Corp. “The solution will be a holistic one, it will respect the needs of the Government of Singapore, cognisant of the market expectation of the project sustainability and bankability, and without compromising on service reliability, journey time and safety.”
The KL-SG HSR aims to bring both countries closer together by improving connectivity and catalysing further economic cooperation. On 5 September 2018, the Governments of Malaysia and Singapore both agreed to suspend the construction of the KL-SG HSR Project up until 31 May 2020.
This article first appeared on www.globalrailwayreview.com
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