GF 323
CONFIDENTIAL
機密
"Since August
1991,
the
Government
has been talking
with Hyundai about the company's financial position. Hyundai was pre-qualified in late-1990 on the basis of its
unaudited half-yearly accounts to June 1990, as well as on
technical grounds. Upon receipt of Hyundai's full, audited
1990 accounts in June 1991, we began to be concerned about
its ability to meet the capital requirements for the Tsing
Ma Bridge contract. Since then we have been in regular
touch with the company.
"In March and early
Hyundai Business Group to
April this year, we wrote to the
clarify our requirements for an
inter-group guarantee and an irrevocable letter of credit
to cover part
Hyundai's shortfall in working capital.
Unfortunately Hyundai has been unable to comply with our
two requirements, or make acceptable alternative proposals.
In the circumstances. Hyundai cannot be qualified for the
award of the contract, said Mr Yeung. (Please refer to the
Appendix for details.)
The tender evaluation procedure has encompassed:
a)
તે comparison and evaluation of tender prices, including their net present value which enables
prices to be assessed on a uniform cash basis;
assessments
b)
competence;
of technical and management
c)
d)
evaluation of the programme for construction,
which involves assessing the chances of the
work being completed on time; and
examination of tender qualifications (i.e.
proposed contract conditions different from
those required by the Government.)
The Government was advised on technical matters by a
team Of
international
experts
in suspension bridge
construction.
CONFIDENTIAL
機密