Public private partnership projects in Singapore: Factors, critical risks and preferred risk allocation from the perspective of contractors

Hwang, Bon‐Gang; Zhao, Xianbo; Gay, Mindy Jiang Shu

doi:10.1016/j.ijproman.2012.08.003

Cited by 320 publications

(232 citation statements)

References 25 publications

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“…First, governments can influence political and regulatory risks (Hwang, Zhao, and Gay 2013;) by creating a more conducive institutional environment, including making credible commitments to honor the terms of the agreement, and develop clear and reliable estimates on development and construction costs, tariff and demand definition and trends. This may entail:…”

Section: Ppp Risks Classification and The Mitigation Policy Actions Tmentioning

confidence: 99%

Government policies to enhance access to credit for infrastructure-based PPPs: an approach to classification and appraisal

Vecchi

Hellowell

Croce

et al. 2017

Public Money & Management

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Several governments across the world have introduced a variety of instruments to enhance investor appetite for public private partnership (PPP) projects. This paper provides a comprehensive categorization of these instruments, the risks they target and their effects, at project and system level, to support policy makers to design the most appropriate instruments to attract private capital into infrastructure development.Keywords: PPP; guarantees; credit enhancement; infrastructure asset class; risk Box -Impact:The use of financial instruments to attract investors into PPP projects may have significant fiscal and economic implications. Therefore, it is crucial for policy makers and public managers, working for local, national or supranational public organizations, to understand the options available, the mechanisms through which these instruments reduce investor risk, and the possible unintended effects. The paper, grounded in the analysis of the main trends in capital markets, offers a threefold categorization of PPP risks, which is a useful scheme to identify the risks that may be addressed with the policy instruments to sustain the PPP bankability.

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Section: Ppp Risks Classification and The Mitigation Policy Actions Tmentioning

confidence: 99%

Government policies to enhance access to credit for infrastructure-based PPPs: an approach to classification and appraisal

Vecchi

Hellowell

Croce

et al. 2017

Public Money & Management

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“…Most PFI projects are involved with risks, hence it is necessary to balance the risks and rewards of public and private sectors in PFI projects and should be done at the early stage of the projects. A commonly accepted principle is to allocate risks to the party best able to manage it at least cost [11].…”

Section: Privatization Of Highway Projects In Malaysiamentioning

confidence: 99%

A Framework and Evaluation Technique for Project’s Viability of Privatization Highway Projects in Malaysia

Mohamed¹,

Yusof²,

Mohamed³

et al. 2017

IJET

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-The construction sector is one of the indicators of national economic growth and has contributed 4% yearly in average to Malaysia GDP and 6% to the national economy between 1995 -2015. The excellent of construction growth is mainly from projects implemented under "Public-Private Partnership" (PPP) and privatization. Under 10 th Malaysian Plan, 52 projects valuing about RM62.7 billion will be implemented under PFI for infrastructure works. This study aims to evaluate the project viability and the correlation between the costs and revenue collected for entirely concession period. A systematic framework for project viability of highway privatization projects has been developed based on research findings. The methodology adapted in this research is by using descriptive literature technique analysis. The research finding shows that most preferred technique used by respondents are Internal Rate of Return (IRR) and Net Present Value (NPV). In sustaining the highway projects, the costs incurred during concession period should be managed efficiently. Four (4) variables are found for evaluating project's viability and identifying which variables correlate and significantly contributes to the project viability namely operation cost, maintenance cost, actual toll traffic, and revenue. Actual traffic volume significantly correlates with the revenue meanwhile the operation cost is less correlated to the revenue. This research highlighted the viability of the privatized highway projects for entirely concession period and based on the findings, it is suggested a comprehensive framework for future project evaluation comprising of 8 components of commercial and technical evaluation for privatization highways in Malaysia need to be introduced and recommended to be implemented in the industry.

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“…There are more crucial like time related risks, quality related risks, environment related risks, safety related risks, design drawing errors, natural hazards and many others (Kuo & Lu, 2013;Hwang, Zhao & Shu Gay, 2013).…”

Section: Risk Factors In Construction Projectsmentioning

confidence: 99%

Zadania menedżera ryzyka w przedsiębiorstwie budowlanym

Bizon-Górecka

Górecki

2017

ACTA SCIENTIARUM POLONORUM - Architectura Budownictwo

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Public private partnership projects in Singapore: Factors, critical risks and preferred risk allocation from the perspective of contractors

Cited by 320 publications

References 25 publications

Government policies to enhance access to credit for infrastructure-based PPPs: an approach to classification and appraisal

Government policies to enhance access to credit for infrastructure-based PPPs: an approach to classification and appraisal

A Framework and Evaluation Technique for Project’s Viability of Privatization Highway Projects in Malaysia

Zadania menedżera ryzyka w przedsiębiorstwie budowlanym

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