KUALA LUMPUR: MyHSR Corp Sdn Bhd has appointed Minconsult Sdn Bhd and Ernst & Young as the technical advisory consultant (TAC) and commercial advisory consultant (CAC) for the Kuala Lumpur-Singapore high speed rail project respectively.

In a statement issued on Friday, MyHSR said the two appointed parties will review the proposed changes to the project and further identify cost reduction options for the Malaysian government.

"The TAC focuses on the engineering aspects of the project by reviewing and validating the proposed infrastructure design changes within Malaysia such as the alignment, stations, and train maintenance facilities. 

"The CAC focuses on commercial aspects such as developing new business models, identifying funding and financing options, updating the ridership forecast, and updating the economic benefits the project will bring to Malaysia," said the statement.

The TAC and CAC tender exercises took place between April and June 2019 and was open to companies with relevant expertise and experience. 

"The appointment of TAC and CAC is a major step in the effort to develop an affordable KL-SG HSR. The solution will be holistic one, it will respect the needs of the Government of Singapore, cognisant of the market expectation of the project sustainability and bankability, and without compromising on service reliability, journey time and safety," said MyHSR CEO Datuk Mohd Nur Ismal Mohamed Kamal.