PETALING JAYA: MyHSR Corp Sdn Bhd has appointed Minconsult Sdn Bhd and Ernst & Young as the technical advisory consultant (TAC) and commercial advisory consultant (CAC) respectively for the Kuala Lumpur-Singapore high speed rail (HSR) project.
In a statement yesterday, MyHSR Corp said both the TAC and CAC tender exercises were open to all qualified companies with relevant expertise and experience.
“Over the period of three months between April and June 2019, MyHSR Corp had received numerous interests and proposals from companies comprising both international and local firms.
“Upon careful evaluation and completion of the tender process, MyHSR Corp had appointed Minconsult Sdn Bhd and Ernst & Young.”
Minconsult Sdn Bhd is a Malaysian multi-disciplinary engineering and project management firm with experience in numerous local railway projects.
The company’s railway portfolio encompass feasibility studies, detailed engineering design services, preparation of specifications, tendering, project management, construction supervision, as well as testing and commissioning.
Ernst & Young meanwhile is a global firm of financial advisors and consultants. Its 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.
The HSR is a strategic project between Malaysia and Singapore that aims to facilitate shorter travel time between Kuala Lumpur and Singapore. On Sept 5, 2018, both governments agreed to suspend the construction of the HSR Project until May 31, 2020. MyHSR Corp, its TAC and CAC will now proceed to review the proposed changes to the HSR pProject and further identify cost reduction options for the Malaysian government.
“The TAC focuses 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 focuses 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.”
In the same statement, MyHSR Corp chief executive officer Datuk Mohd Nur Ismal Mohamed Kamal said the appointment of TAC and CAC is a major step in the effort to develop an affordable HSR project. “The solution will be holistic one, it will respect the needs of the Singapore government, cognisant of the market expectation of the project sustainability and bankability and without compromising on service reliability, journey time and safety.”