PSALM puts up 3 small properties for sale

MANILA, Philippines — Three companies have expressed interest in small land assets up for sale by the Power Sector Asset and Liabilities Management Corp. (PSALM) as they participated in a pre-bid conference for the properties.

In a statement, PSALM said Sta. Clara Power Corp., SPC Power Corp. and Cagayan Electric Cooperative II joined a pre-bid conference for the sale of properties in Bohol, General Santos City and Cagayan.

“The pre-bid conference provided an opportunity for prospective bidders to raise any questions that they may have relative to the terms of the sale,” PSALM said.

The state-run firm is selling the three properties with a combined minimum bid price of P26 million.

The properties up for bidding are the 13,204 square meter (sqm) Loboc property in Bohol, the 1,868-sqm General Santos City property and the  2,148-sqm property in Camalaniugan, Cagayan.

The Loboc property in Barangays Gotozon and Bagumbayan will offer four lots with a minimum bid price of P12.1 million.

The General Santos City property located in Barangay Calumpang will feature two lots with a minimum bid price of P10.97 million.

Minimum bid price for the Camalaniugan property in Barangay Bantay Camalaniugan, meanwhile, is set at P3.2 million for one lot.

PSALM said the properties are for sale through a public bidding on a “as-is, where-is” and in cash basis.

A bidder may participate in one or more, or in all projects, but must submit a bid for each project, with the bids separate and distinct from each other.

The opening of bids for the assets is set on Dec. 2.

“In the event public bidding is declared a failure due to the participation of only one bidder, the lone bidder’s bid shall be considered an offer to buy the property through negotiated sale,” PSALM said.

Proceeds of the sale will be used to augment collections needed to settle PSALM’s financial obligations.

Moreover, the state-run firm said a pre-negotiation conference for the sale of its property in Paco, Manila is scheduled at 2 p.m. today.

PSALM sought offers for the negotiated sale of the 20.9-sqm property located in Isla de Provisor with a minimum offer price of P458 million.

“The financial offer of the interested party with the highest offer must be equal to or higher than the minimum offer price in order to qualify as the winning interested party,” PSALM said.

The property will offer eight lots and will also be sold on an “as is, where is” basis.