Only 1 of 4 gov’t lots attracts bidders

In its first major asset privatization exercise after the successful sale of a huge chunk of Food Terminal Inc. (FTI) almost three years ago, only one out of the four properties auctioned off by the Privatization and Management Office (PMO) last week attracted bidders, with a highest bid of P15.661 million generated for a property in Bulacan province.

During the auction for the 25,044-square meter Repacom property in Marilao, Bulacan last Friday, three bids were submitted, of which the largest was that of Jose Co and Rodrigo Ko’s joint bid.

The Bulacan property, which had a floor price of P15.5 million, also attracted bids worth P15.55 million from a Jose Elmer Machito, and another amounting P15.54 million from a Ricardo Silvestre.

The highest bid shall undergo post-qualification before the eventual award of the property.

However, three other properties—the 47,823-sqm tract of land of Interland Chemicals Inc. in Atimonan town, Quezon province, the 1,955.67-sqm Emmanuel Community Hospital in Tondo, Manila, and the 13,000-sqm lot of Luzon Aggregates Inc. in Parañaque City—failed to generate bids last Thursday and Friday during their scheduled auctions, PMO officer-in-charge Toni Angeli V. Coo told reporters.

Coo said that despite the failed bidding for these three properties, all is not lost as the inter-agency, Cabinet-level Privatization Council may opt to sell these lots under negotiated transactions with potential buyers.

As for the 2,798-sqm National Power Corp. property in Makati City as well as the 21,056-sqm lot of Fil-Eastern Woods Inc. in Quezon City, both of which were also scheduled to be auctioned off last week, the PMO had moved the bid submission date to Apr. 16 as interested bidders requested an extension, Coo disclosed.