The owner's estimate (Harga Perkiraan Sendiri, HPS) is the reference price an agency sets before a tender. Because bids and the winning value are judged against it, an HPS built on inflated market surveys can quietly bake a mark-up into a contract before a single bid arrives. IPW encourages watchers to ask how an HPS was calculated, which price references were used, and whether the final contract value tracks genuine market prices.
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Understanding the Owner's Estimate (HPS) and Mark-Up Risk
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