State-run Power Sector Assets and Liabilities Management Corp. said Monday it will privatize five more real estate properties this month after selling five Mindanao lots in August.
PSALM said it would privatize its Loboc property in Bohol, Calumpang in General Santos City, Magdalena in Laguna, Supiden in La Union and Camalaniugan in Cagayan.
“Bidding is open to individuals/sole proprietorships, corporations, cooperatives or partnerships duly registered and organized under the laws of the Philippines and at least 60 percent Filipino-owned, joint ventures or consortiums, government corporate entities and local government units authorized by law to acquire, own, hold or develop real estate properties in the Philippines,” it said.
It set the pre-bid conference for the properties on Sept. 15 and the bid submission deadline on Sept. 30.
PSALM said in the event of a failure of auction, the lone bidder’s bid would be considered an offer to buy the properties for the purpose of negotiated sale.
PSALM earlier privatized its real estate assets in Agusan del Norte for P36.233 million.
The proceeds of the privatization can be utilized to pay for remaining liabilities of the National Power Corp., it said.
“We are glad that the privatization activity was successful despite the pandemic. This privatization activity will generate a total bid amount of P36,233,308 for PSALM. And once remitted to PSALM, the proceeds will be used by us to pay the remaining financial obligations that we got from the Napocor,” PSALM president and Irene Besido Garcia said earlier.
PSALM manages the assets and liabilities of Napocor as mandated by the Electric Power Industry Reform Act of 2001.
PSALM said Lopez-led FG Bukidnon Power Corp. offered the winning bid for three lots with a total area of 10,596 square meters in Bukidnon for P28,610,168.00.
Therma Marine Inc. of Aboitiz Power Corp. acquired two properties including one lot with an area of 1,595 square meters in Maco, Davao de Oro for P3.2 million and a lot with an area of 3,395 sq. m. in Nasipit, Agusan del Norte for P4.4 million.
All the bid offers were above the minimum bid prices approved by the PSALM board of directors.
PSALM said the results of the bidding exercises would be subject to post-qualification process to ensure that the winning bidders met all the financial and legal requirements as indicated in the asset sale provisions.