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Identification of incomplete contract provision in PFI Contract in ASEAN countries: a case study on Malaysia

Recently, ASEAN countries had called for a more enhanced infrastructure investment to cater the rising economic and social growth in the region. Private Finance Initiative (PFI) has been adopted by many to serve the purpose. However, there is lack of standard procedure for PFI implementation among t...

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Main Authors: Mansor, Syaimasyaza, Abdul Rashid, Khairuddin
Format: Conference or Workshop Item
Language:English
English
Published: 2015
Subjects:
H96 Public policy (General), Policy sciences
HJ7451 Expenditures. Government spending
K Law (General)
T10.5 Communication of technical information
TA190 Management of engineering works
TH1000 Systems of building construction
Online Access:http://irep.iium.edu.my/48715/1/AEC2015_IC.pdf
http://irep.iium.edu.my/48715/4/ASEANcommunity2015_cover%26programme-1.pdf
http://irep.iium.edu.my/48715/
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spelling my.iium.irep.487152016-02-09T13:05:11Z http://irep.iium.edu.my/48715/ Identification of incomplete contract provision in PFI Contract in ASEAN countries: a case study on Malaysia Mansor, Syaimasyaza Abdul Rashid, Khairuddin H96 Public policy (General), Policy sciences HJ7451 Expenditures. Government spending K Law (General) T10.5 Communication of technical information TA190 Management of engineering works TH1000 Systems of building construction Recently, ASEAN countries had called for a more enhanced infrastructure investment to cater the rising economic and social growth in the region. Private Finance Initiative (PFI) has been adopted by many to serve the purpose. However, there is lack of standard procedure for PFI implementation among the ASEAN countries. Every country adopted their own procedure. Due to that reason, the ASEAN Leaders had taken the initiative to establish a set of ASEAN Principles for Public-Private Partnership (PPP) Frameworks to improve the efficiency of PPP frameworks in ASEAN region. Among the issue that could be address in the PPP Framework initiative is regarding the provision of PFI concession contract. Literature had identified that there are provisions that are considered incomplete in PFI contract and many PFI contracts are incomplete to some degree. Given that the ASEAN countries are embarking on more PFI contract in the future, the phenomenon of incomplete contract does not give a good impression for the improvement of PPP contract in ASEAN. This paper therefore identify the presence, the characteristic and the implication of incomplete contract based on the study being done on Malaysian PFI concession contract. Input from this paper is considered to be significant towards the ASEAN Principles for PPP Framework initiative in the aspect related to standardization of PFI concession contract. Keywords: contract; incomplete contract; Private Finance Initiative (PFI); concession contract; transaction cost; bounded rationality 2015-03-03 Conference or Workshop Item REM application/pdf en http://irep.iium.edu.my/48715/1/AEC2015_IC.pdf application/pdf en http://irep.iium.edu.my/48715/4/ASEANcommunity2015_cover%26programme-1.pdf Mansor, Syaimasyaza and Abdul Rashid, Khairuddin (2015) Identification of incomplete contract provision in PFI Contract in ASEAN countries: a case study on Malaysia. In: The 2nd international conference on asean community 2015, Malaysia, 2 - 3 March 2015, Kuala Lumpur . (Unpublished)
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
English
topic H96 Public policy (General), Policy sciences
HJ7451 Expenditures. Government spending
K Law (General)
T10.5 Communication of technical information
TA190 Management of engineering works
TH1000 Systems of building construction
spellingShingle H96 Public policy (General), Policy sciences
HJ7451 Expenditures. Government spending
K Law (General)
T10.5 Communication of technical information
TA190 Management of engineering works
TH1000 Systems of building construction
Mansor, Syaimasyaza
Abdul Rashid, Khairuddin
Identification of incomplete contract provision in PFI Contract in ASEAN countries: a case study on Malaysia
description Recently, ASEAN countries had called for a more enhanced infrastructure investment to cater the rising economic and social growth in the region. Private Finance Initiative (PFI) has been adopted by many to serve the purpose. However, there is lack of standard procedure for PFI implementation among the ASEAN countries. Every country adopted their own procedure. Due to that reason, the ASEAN Leaders had taken the initiative to establish a set of ASEAN Principles for Public-Private Partnership (PPP) Frameworks to improve the efficiency of PPP frameworks in ASEAN region. Among the issue that could be address in the PPP Framework initiative is regarding the provision of PFI concession contract. Literature had identified that there are provisions that are considered incomplete in PFI contract and many PFI contracts are incomplete to some degree. Given that the ASEAN countries are embarking on more PFI contract in the future, the phenomenon of incomplete contract does not give a good impression for the improvement of PPP contract in ASEAN. This paper therefore identify the presence, the characteristic and the implication of incomplete contract based on the study being done on Malaysian PFI concession contract. Input from this paper is considered to be significant towards the ASEAN Principles for PPP Framework initiative in the aspect related to standardization of PFI concession contract. Keywords: contract; incomplete contract; Private Finance Initiative (PFI); concession contract; transaction cost; bounded rationality
format Conference or Workshop Item
author Mansor, Syaimasyaza
Abdul Rashid, Khairuddin
author_facet Mansor, Syaimasyaza
Abdul Rashid, Khairuddin
author_sort Mansor, Syaimasyaza
title Identification of incomplete contract provision in PFI Contract in ASEAN countries: a case study on Malaysia
title_short Identification of incomplete contract provision in PFI Contract in ASEAN countries: a case study on Malaysia
title_full Identification of incomplete contract provision in PFI Contract in ASEAN countries: a case study on Malaysia
title_fullStr Identification of incomplete contract provision in PFI Contract in ASEAN countries: a case study on Malaysia
title_full_unstemmed Identification of incomplete contract provision in PFI Contract in ASEAN countries: a case study on Malaysia
title_sort identification of incomplete contract provision in pfi contract in asean countries: a case study on malaysia
publishDate 2015
url http://irep.iium.edu.my/48715/1/AEC2015_IC.pdf
http://irep.iium.edu.my/48715/4/ASEANcommunity2015_cover%26programme-1.pdf
http://irep.iium.edu.my/48715/
_version_ 1643613412852236288
score 13.211869

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