Description of Project: Sintok University, a public university has planned to construct students residential complex to cater
Question:
Description of Project: Sintok University, a public university has planned to construct students residential complex to cater to the current and future demand of student accommodation. The complex shall comprise of 10 blocks of high-rise hostel built on the land that belongs to Sintok University (SU). Each block is 20 stories high, and each block comprises 400 units of students’ hostel.
On completion of the students’ residential complex, it can accommodate up to 10,000 students. The hostel complex shall be named as “Students’ Village Complex (SVC)”.
Host/owner: Sintok University (under the Ministry of Higher Education)
Financing Required: The estimated cost of the project is RM150 million on full completion with infrastructure and furnishing. Sintok University does not have the financial means to complete the SVC project. Therefore, the management of SU is exploring the options to finance the project on a public-private partnership (PPP) initiative.
Tasks: Elaborate on the key credit considerations of the project financing of SVC.
Auditing and Assurance Services Understanding the Integrated Audit
ISBN: 978-0471726340
1st edition
Authors: Karen L. Hooks