UN.MEF
CG HUNG KUNG.
THU 67 MAY 92 15:24
CONFIDENTIAL
PG.13
機密
cause a high degree of 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
accopling their original accounts as evidence of subticient
capital to complete the project. To do so, the Government would
have to accept debts from the Middle East as evidence of
sufficient working capital. This we feel unable to do.
10.
Notwithstanding their financial difficullion,
Government has fully evaluated Hyundai's tender on the basis of cost and technical ability. Hyundai's modified tender price was
GO low that, in the view of the TAT, they appeared to have
underestimated the works involved in terms of quality, scope, resources and price. Technically, Hyundai's bid was evaluated
an the weakest of all the tenders submitted. The probability of
Hyundai completing
Tsing Ma Bridge on time was assessed al
65 per cent at best. Hyundai demonstrated a relatively poor appreciation of the technical, management, staffing and programming demands for this difficult project.
11.
Against the
above background, the CTB decided that the
Tsing a Bridge Contract could not be awarded to Hyundai.
12.
All Japanese Consortium
This Consortium was a strong tenderer, including Hippen Steel, which has patented the techniques and achieved a high
ropulation for
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.
CONFIDENTIAL 機宮
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