HONG KUNGE
TAT JE
機密
CONFIDENTIAL #
cause
a high degree
30
risk that they would default on this
important contract. It appears to the Government that domestic political problems have made it extremely difficult for them to
comply. Hyundai has requested the Government to consider
accepting their original accounts as evidence of sufficient
capital to complete the project. To do so, the Government would
have
accept debts from the Middle East ૐ evidence of
sufficient working capital. This we feel unable to do.
02
10.
Government
underestimated
Notwithstanding their financial difficulties,
has fully evaluated Hyundai's tender on the basis of Cool and technical ability. Hyundai's modified tender price was 50 low that, in thes view of the TAT, they appeared to have the works involved in terms of quality, scope, resources and price Technically, Hyundai's bid was evaluated the weakest of all the tenders submitted. The probability of Hyundai completing the Tsing Ma Bridge on time was assessed at
: 65
per cent at best. Hyundai demonstrated a relatively poor
appreciation of the technical, management, staffing and programming demands for this difficult project.
5 ב
11.
Against the above background, the CTB decided that the
Tsing Ma Bridge Contract could not be awarded to Hyundai
12.
11 Japanese Consortium
This
Stool, which
Consortium was a strong tendere, including
has patented the techniques and achieväd ruputation tor parallel wire manufacture of cables. However, their bid was the most expensive of the tenders by a wide margin, and was rejected on this ground, on 8 April 1992.
CONFIDENTIA
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