Changi Race Hub CANCELLED!

[Guest subaru67]

So disappointed! as dunno who eat money

SINGAPORE: The Singapore Sports Council (SSC) announced that it is terminating the Changi Motorsports Hub project that was awarded to SG Changi.

SSC said it has given SG Changi a notice on 7 December to terminate the Project Delivery Agreement.

Both parties had agreed to the termination and all arrangements are to be sorted out by the end of this year.

SSC said it is "a difficult decision".

But it has to terminate the contract in light of current circumstances, one of which being SG Changi's inability to meet the contractual agreement to complete the project by this month.

"In the course of the year, SSC had also met with SG Changi's management team on several occasions to discuss and address their attempts to salvage the situation. However, it is evident, in spite of all their efforts, that they do not have a remedy that we can agree to, and we have to hold them to account," said SSC CEO, Mr Lim Teck Yin.

SSC added it has not yet decided if it wants to call for a re-tender at this point of time, as it wants to reassess the market conditions before making any decisions.

SSC had awarded the tender to SG Changi in March last year.

The group had beaten two other bidders - Singapore Agro Agriculture and Haw Par Corporation - to build and manage Singapore's first permanent race track (measuring some 3.7km) at Changi.

The S$380 million project had also planned for a 1.2km karting track and racing academy.

It was supposed to be completed by the end of 2011.

But SG Changi ran into various problems, from construction delays due to a lack of funds, to a corruption probe into alleged irregularities in the tender process.

While SG Changi is expected to make a loss after the termination of the contract, the SSC said that no public funds were invested in the project. However, the SSC is looking at conducting a full post-mortem on the entire process.

[Guest hkhamateur]

Oh..oh..shit! :fish:

There goes my dream into e smoke liao! :Cry:

[Guest TD042]

That suck!!!:whistle:

[Guest jhun_4040]

this news actually long time know le, juz not told only officially.

[Guest andylkkg]

The outcome is just as expected, just that if this project will be revised and re-awarded to the second lowest or a totally new tender be called! Still keeping the finger-cross and excitement that it will be coming finally.

[Guest jhun_4040]

i say:

mai tu liao. 380million project.

Let amass the power and might of SGMerc to form a SGMerc Consortium, and we bid the project and build it !!! With the wide expertise of our people here from all sorts of walk, sure can reach that funding !!!

But after building it, got turn-over anot is one question. LOL.

[Guest chiaster]

i was looking forward to this so that we don't have to go up north anymore to track! but there's still hope! remember that this is SINGAPORE! once it's out in the open, the relevant authorities WILL MAKE IT HAPPEN! SINGAPOREANS "very scared lose face"!

:bounce:

[Guest subaru67]

SINGAPORE: SG Changi chairman, Fuminori Murahashi, said he is not giving up on the Changi Motorsports Hub project.

Speaking to the Singapore media on Thursday, the 51-year-old said he would still like to be involved in the motorsports industry.

This is despite the fact that the current contract between his company and the Singapore Sports Council was mutually terminated earlier this month.

Mr Murahashi said he invested more than S$55 million of his own money into the project.

He added if a re-tender is called, he may partner with one of the new bidders.

A series of unfortunate incidents had caused the project to take a turn for the worse, but the chairman feels that he should be given more time as he has overseas investors to help him fund the S$380 million project.

One focus is on education for kids, from karting and progressing to higher levels of motor sports.

There are also plans to bring two major races - the Super GT and Nippon Series - and even cater to the motorcycle community in Singapore.

When contacted on the latest development, the Singapore Sports Council said its earlier position on the termination remains, and there are no plans for a re-tender for now.

Andrew Ujiie, director at SG Changi, said: "SG Changi is working with the Singapore Sports Council on this mutual termination arrangement, (and) the details will hopefully be finalised by the end of the year.

"From the perspective of the company, I believe it's important that the project continues. If there is an agreement that can be constructed so that it's mutually beneficial for all parties involved... I think that would be a good situation for everyone."

- CNA/cc

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1172861/1/.html