SINGAPORE (Apr 12): The joint tender called by SG HSR and MyHSR Corporation, for a private-financed assets company (AssetsCo) to work on the Kuala Lumpur-Singapore High Speed Rail (HSR) project has attracted six potential bidders, says Bernama news agency.

See: AssetsCo tender called for KL-Singapore HSR project

The AssetCo will be responsible for designing, building, financing and maintaining all rolling stock, as well as the designing, building, financing, operating and maintaining all rail assets – such as track work, power, signalling and telecommunications – for the KL-SG HSR project.

The bidders are expected to submit their proposals by June, according to MyHSR.

Following this, the proposals will be evaluated for a period of six months and the winners will be announced by December, said CEO of MyHSR, Mohd Nur Ismal Mohamed Kamal on Wednesday in a press conference held in conjunction with the National Supply Chain Conference on Rail Projects.

"So far, six potential bidders have registered and bought the tender documents, but we cannot tell at this time how many proposals we expect to receive as there might be some mergers,” says Mohd Nur Ismal.

As reported by Bernama, Mohd Nur Ismal says the six bidders were consortiums from China, Japan, South Korea, and European countries, as well as a group from Singapore and another from Malaysia.

But with the Malaysian general election coming up on May 9, there is the possibility the Opposition could review Malaysia’s mega-projects if it were to win.

Mohd Nur Ismal says Malaysia has already signed a bilateral agreement with Singapore regarding the HSR project.

The agreement is legally binding, to which any cancellations and delay of the project would lead to compensation issues.

"Such situations will not benefit any party," says Mohd Nur Ismal.

See: Malaysia general election to be held on May 9; close contest expected

Mohd Nur Ismal says he supports the project, saying it should not be aborted as it would bring multi-fold benefits, such as generating RM650 billion ($219.6 billion) in gross national income over 50 years and create 442,000 jobs.