PDIC to sell assets of closed banks for P135M

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The Philippine Deposit Insurance Corp. (PDIC) is set to sell 95 assets of closed banks for a total minimum disposal value of P135 million.

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In a statement, the state deposit insurer said through its Real & Other Properties Acquired (ROPA) Disposal Committee, it is set to sell on an “as-is, where-is” the assets through a public bidding on May 31 this year.

Under the “as-is, where-is” basis bidding, prospective buyers are advised to physically inspect the properties they are interested to buy, assess and verify the land titles and other documents, and determine unpaid taxes, fees or expenses before submitting their bids.

“Interested buyers may submit their bids to the ROPA Disposal Committee Secretariat at the Penthouse, SSS Building, 6782 Ayala Avenue, cor. V.A. Rufino St., Makati City from 9:00 a.m. to 2:00 p.m. Bids will be opened at 2:00 p.m,” it stated.

Up for bidding are 91 real properties located in Albay, Bataan, Benguet, Bulacan, Cagayan, Camarines Sur, Cavite, Ilocos Sur, Isabela, Laguna, La Union, Metro Manila, Misamis Oriental, Nueva Ecija, Pangasinan, Quezon, Surigao del Norte and Zambales. A generator set and three motor vehicles will also be bidded out.

Bidders are advised to bring proper identification (ID) with photo and to register at least one hour prior to the deadline for submission of bids.

Bid documents such as Bid Forms, Conditions of Bid, and standard format of the Special Power of Attorney and Secretary’s Certificate may be downloaded free of charge from the PDIC website, www.pdic.gov.ph.

Each bid should be accompanied by a bond/deposit equivalent to at least 10 percent of the submitted bid, in cash or Manager’s or Cashier’s Check, or a combination thereof. The
Manager’s or Cashier’s Check should be issued by a universal or reputable commercial bank and payable to PDIC. The winning bidder should pay the balance of the bid no later than June 9, 2016.

The expeditious conversion and resolution of assets are among the objectives outlined in PDIC’s strategic directions. PDIC, as liquidator of closed banks, conducts various asset-disposal initiatives such as biddings, auctions, and negotiated sales.

Proceeds from the sale of closed banks’ properties are used to increase the chances of recovery of uninsured depositors and creditors of their trapped funds while gains from the sale of corporate assets are added to the Deposit Insurance Fund, PDIC’s main funding source for payment of valid deposit insurance claims.

“Interested parties may get in touch with the ROPA Disposal Committee Secretariat at telephone number (02) 841-4000 local 4747 or 4748 for more information on the real properties and the public bidding,” the statement added.

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