TNAG-2409-FCO40-3503-Hong-Kong-Port-and-Airport-Development-Strategy-(PADS)-Brit-1992 — Page 71

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07-MAY 1992 18:29

BRITISH TRADE COMM

- 4-

....

P: 120

"Contractors need adequate working capital to maintain

finance outgoings can

liquidity

contract.

so that

they

Adequate employed capital is

оп the

needed for the

purchase of fixed assets such as construction plant and

other capital equipment.

"Means to meet Our

Hyundai by way of

irrevocable letter of

requirements were pointed out to

an inter-group guarantee and an credit to cover that part of the

employed and working capital deficiency that Hyundai were not able to meet by other means. Hyundai have not been able to offer us satisfactory assurances that their position would be corrected.”

The tender evaluation procedure carried out by the Hong Kong Government has encompassed:

team

The

a) а comparison and evaluation of tender prices,

including their net present value which enables

prices to be assessed on a uniform cash basis;

bi

assessments of technical and management

competence;

c) evaluation of the programme for construction;

d) compliance with Government contract conditions.

Government was advised on technical matters by a of international experts in suspension bridge construction.

Except for its tender price being second lowest, the Anglo-Japanese consortium came first against all the assessment criteria. The consortium is very experienced in major bridge construction, including large suspension bridges, and in achieving requisite quality standards. The risk of project delay is assessed as the lowest. The cons

has also complied with the Government's standard

onmployed and working capital.