SG Changi lacing track construction cui

[Mockngbrd]

http://www.todayonline.com/Sports/EDC11052...ke-Hub-deadline

 

 

 

04:47 AM May 28, 2011

SINGAPORE - The country's first permanent motor racing track could be heading for an unnatural death after its embattled developers admitted yesterday they would not be able to get the facility operational by the end of the year.

 

SG Changi are also likely to default on another major milestone: To complete a 2,000-lot car park before the start of the Singapore Airshow 2012, scheduled from Feb 14 to 19, which will be held next to the facility.

 

With prospects bleak for the consortium, some in the motor-racing industry feel even a re-tender is now possible, to ensure the Changi Motor Sports Hub project is fulfilled.

 

Work at the 41-hectare site on the eastern tip of Singapore ground to a halt in January after SG Changi - they pipped two other challengers to win the bid to build and operate the S$380 million project in 2009 - could only pay S$6 million of an agreed advance payment to piling contractors CSC Holdings.

 

They owe CSC Holdings S$8 million, which includes progressive claims for piling work on 1,000 of 6,000 points at the site.

 

SG Changi can try to fulfil their contractual obligations but would require millions more pumped into the project. However, raising funds has been the problem for the consortium.

 

Andrew Ujiie, the company's head of people innovations, admitted that after a four-month delay, the cost to get the 4km FIM Grade 1 and FIA Grade 2-certified track ready by December would be extremely high.

 

Speaking to MediaCorp from the United States, where he is on a business trip, Ujiie said: "I think that is the reality. Although nothing is impossible, to get the track ready by the end of the year is now going to cost us a lot more."

 

CSC, who were contracted to do piling work for a total of S$50 million, are hoping that if the Government in the end calls for a re-tender, they will be given "preferential consideration" if a new consortium takes over.

 

"We are weighing our options," said CSC president and group CEO See Yen Tarn. "Pulling out is one of them, but we are holding out for a better outcome. If a new consortium comes into the picture, we hope they will consider resuming work with us.

 

"Even with a new design, what has been piled into the land need not be yanked out and we will be able help them work things around."

 

In March, MediaCorp reported that a group of interested parties had met SG Changi directors Fuminori Murahashi and Moto Sakuma, with a view to taking a share in the company.

 

After submitting plans to considerably reduce the cost of building the Hub and hoping that the deadline for the project would be extended, the potential investors are moving cautiously.

 

"With the Sports Hub (at Kallang) allowed a delay, they were banking on the Singapore Sports Council (SSC) indicating they were open to extending the deadline for the permanent track as well," said a source close to the negotiations.

 

"Their plan hinges on this because at this stage, it is clear to everyone that the costs are going to be extremely high to meet the Motor Sports Hub objectives if the SSC stick to their guns."

[KARTer]

SGP govt cannot lose face, MCYS cannot lose face,... re-tender and get it done... its ok to open later, better than never...........

 

what's happened to the SSC proj director who was investigated? we need transparency, for the sake of motorsports' long term future...

[Sunhub]

Attached a cutting of the Singapore Chinese newspaper and Business Times concerning the alleged fake bankers' guarantee submitted to the Singapore regulator, Singapore Sports Council (SSC) to award the Changi Motorsport Hub contract to S G Changi Pte Ltd. Wonder why SSC did not authenticate the original hard copy BG from Bank of Mitsubishi - Tokyo submitted by the Japs during the RFI period. SSC has CEO, CFO, lawyers and group of professional people in their organisation and yet not a single professional person bothers to write to the bank concerned to authenticate the BG.

 

 

It would be a great shame for Singaporeans to be associated with this bunch of Japanese playing with alleged fake banking instruments to beat other Singapore companies with their tender.

 

Sad day for most of motor sport people in Singapore and beyond the region!

 

Sunhub

Business_Times_in_Singapore_published_on_31_May_2011__Alleged_Fraud_At_Changi_Motorsports_Hub.pdf

[Csnewbie]

...

[Celicar]

Thanks for nothing, Vivian.

[Darryn]

I can't help but wonder if, or how much of a role govt demands for revenue, payments and other requirements had on this project.

 

It would be very interesting to have the time and resources to be able to prepare a case study comparing the requirements placed on the consortium to other similiar tracks world wide and see if what is being demanded of them is really in the best interests of not only the sport, but also whether it acutally serves "Singaporeans".

 

I don't think the "profit motive" of the SG government is, or has ever been any great secret. The only problem arising is that this is often incompatible with the concept of sport as a "public good"

[Vega]

pity those who already ordered their track cars........

[Porker]

Quite possibly will be a re-tender exercise but suspect won't be so soon as there may be legal technicalities involved.