Published
August 11, 2018, 10:00 PM By Myrna M. Velasco
A minimum bid price of
P885.746 million has been set for the targeted sale of the property that used
to be the site of the Manila thermal power plant.
Asset-seller Power
Sector Assets and Liabilities Management Corporation (PSALM) noted that this is
already the second time it will be inviting prospective buyers of the property.
In the invitation to
bid (ITB) that the company has republished, it stressed that the planned
divestment would not be for a new project, rather, it is just to inform bidders
of the prescribed floor price for the asset.
PSALM said it targets
“to invite more bidders to participate in the bidding,” as it emphasized that
when it issued its first ITB in December last year, the minimum bid price for
the asset sale had not been disclosed at that time.
The state-owned company
specified that it will be divesting the property to interested buyers on “as is,
where is” basis.
This property-for-sale
is in Isla de Provisor, which is along the Pasig River in Paco. Manila. It
comprises of eight lots with a total area straddling 20,975 square meters.
“Any bid below the
minimum bid price will be automatically rejected during the bid opening,” PSALM
has stipulated.
The firm added that the
“bidding is open to individuals and sole proprietorships, partnerships or
corporation, joint ventures or consortiums, government corporate entities and
local government units authorized by law to acquire, own, hold or develop real
properties in the Philippines.”
The company emphasized
that “if the bidder or any of its components is a corporation, it must be duly
registered and organized under the laws of the Philippines,” and at least 60
percent Filipino-owned.
PSALM stressed that
proceeds from the sale of assets shall augment funding sources that in turn,
“will be used in servicing assumed financial obligations.”
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