A
DRAFT
August 1991,
the
Government
has been talking
with
Hyundai
ખાતે સ
Hyundai about the company's financial position.
pre-qualified in late-1990 on the basis of
half-yearly accounts to June 1990, d5 well
i
grounds. Upon receipt of Hyundai's full, audi-ed
ounts in June 1991, we began to be concerned about
LALY
to meet the capital requirements for the Teing
2ridge contract. Since then we have been 14
1
th the company.
LO
March and early April this year, We wrote (..) Hyundai Business Group to clarify our requirements for an
inter-group guarantee and an irrevocable letter of credit
Cover part of Hyundai's shortfall in working capital.
Unfortunately Hyundai has been unable to comply with our
requirements, or make acceptable alternative proposals.
In Lie circumstances. Hyundai cannot be qualified for the
award of the contract, said Mr Yeung. (Please refer to che Appendix for details.)
"
The Lender evaluation procedure has encompassed:
d) a comparison and evaluation of tender prices, including their net present value which enables
prices to be assessed on a uniform cash basis;
bl
assessments of technical and
ompetence;
The
d)
evaluation Of the programme for cons
which involves assessing the chancer
work being completed on time; and
(i.c.
examination of tender qualifications
proposed contract conditions different trom
Chose required by the Government.)
Government was advised
international
#1
on technical matters by
experts in suspension bridge
of
kattu kirion.
Page 195Page 196
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