Written reply to PQ on assessing due diligence findings and financial commitments for the Marina South Wellness Attraction winning bid

Question:

Mr Chua Kheng Wee Louis: To ask the Minister for Trade and Industry (Energy and Industry) on the tender award for the Marina South Wellness Attraction (a) whether independent operational and financial due diligence was conducted on the winning bidder; (b) if so, what were the findings; and (c) what are the upfront and ongoing financial commitments or infrastructure costs the Government has undertaken or may be called upon for the project.

Written Answer by Minister for Trade and Industry (Energy and Industry) Dr Tan See Leng

1.           Therme Group Singapore Pte. Ltd. was awarded the tender to develop and operate a wellness attraction at the Marina South Coastal site. As part of the tender evaluation process, Therme Group's proposal was assessed against a set of criteria, including its development concept, quality of physical infrastructure plans, track record and financial strength, and economic impact. Due diligence checks did not reveal any adverse findings. Details of the tender evaluation are confidential. The costs of developing the wellness attraction will be fully borne by the awarded bidder.