PDIC earns P28.8M from 14 properties


A total of 14 real properties amounting to P28.8 million have been sold by the Philippine Deposit Insurance Corp. (PDIC) in its recently concluded second public bidding for 2013.

In a statement, the PDIC said that the P28.8-million bid received from the properties represented a premium of 10 percent, or about P2.6 million, over the total minimum disposal price of the assets sold.

The real properties consisted of commercial and residential lots located in Metro Manila, Calabarzon (Region 4A) and Masbate province. It said that out of the 14 properties sold, six are located in Laguna, three in Quezon City, two in Manila and one each in Cavite, Batangas and Masbate. Unsold properties from the public bidding will be disposed via negotiated sale.

“The regular conduct of public bidding is in line with PDIC’s mandate as liquidator of closed banks. The PDIC disposes assets of closed banks initially through public bidding. Proceeds of sale are added to funds held in trust for these banks to help settle claims of creditors and uninsured depositors, in accordance with the rules on concurrence and preference of credits,” it stated.

Meanwhile, it said that the proceeds from the sale of corporate assets are added to the Deposit Insurance Fund, the corporation’s main funding source for deposit insurance payments.

PDIC is also inviting interested buyers to submit offers to buy assets not sold during the bidding. Interested buyers are encouraged to regularly check the PDIC website, www.pdic.gov.ph, for updates on properties up for bidding or for negotiated sale.

The corporation also said that it has put up a property finder on its website, where buyers may view available inventory of assets for disposal.

Prospective buyers may also call the Asset Management and Disposal Group (02) 841-4650 for inquiries on assets for sale.


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