Business Briefs

Clark airport O&M deal

The Pampanga Chamber of Commerce and Industry Inc. (PamCham) lauds the successful bidding of the operations and maintenance O&M) contract for the Clark International Airport.

The bidding was carried out in record time and in a very transparent manner with its transaction adviser, the International Finance Corporation of the World Bank, airing all the bidding activities live on its social media pages.

Other members of the consortium are Filinvest Development Corp., JG Summit Holdings Inc. and Philippine Airport Ground Support Solutions Inc.

This North Luzon Airport Consortium brings together Changi’s expertise and experience, and the strengths of Filinvest and JG Summit in the local development market.

PDIC bidding raises P72M

Philippine Deposit Insurance Corp. generated P72.1 million from the sale of 15 closed banks’ assets through two public bidding held in November in Makati City.

Sold assets yielded an aggregate premium of P6.5 million against the total minimum disposal price of P65.6 million. Sold assets consisted of five residential lots, two residential lots with improvements, one commercial lot, four commercial lots with improvements, two motor vehicles and one generator set in Luzon and Visayas.

Proceeds from the sale of the closed banks’ properties were added to the pool of liquid assets of these banks for distribution to creditors and uninsured depositors in accordance with the rules on concurrence and preference of credits.

The expeditious liquidation of assets is one of the strategic directions of PDIC as liquidator of closed banks. To help ensure that recoveries from closed banks’ assets are maximized, PDIC sells them via competitive bidding. Interested buyers may visit the PDIC website at www.pdic.gov.ph for information on the inventory of available assets for sale.

Unsold assets from public bidding may be acquired via negotiated sale.