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/ http://irep.iium.edu.my/48715/1/AEC2015_IC.pdf http://irep.iium.edu.my/48715/4/ASEANcommunity2015_cover%26programme-1.pdf

id	iium-48715
recordtype	eprints
spelling	iium-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 PeerReviewed 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)
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
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/ http://irep.iium.edu.my/48715/1/AEC2015_IC.pdf http://irep.iium.edu.my/48715/4/ASEANcommunity2015_cover%26programme-1.pdf
first_indexed	2023-09-18T21:09:03Z
last_indexed	2023-09-18T21:09:03Z
_version_	1777411128996921344

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

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