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FTI auction delayed

By Manila Standard Today | Posted on August 03, 2012 | 12:01am

The government postponed by a week the public auction of 74 hectares of the 103-hectare Food Terminal Inc. complex in Taguig City to Aug. 14 to allow bidders more time to evaluate their positions.

The Privatization and Management Office said in a statement it decided to move the bidding, which was originally scheduled on Aug. 8, to accommodate investor requests for an extension of the due diligence period.

The bidding date which was rescheduled by four business days will also allow the bidders ample time to study additional information about the agro-industrial asset.

“Supplementary documentation was made available to bidders in response to queries raised during the July 20 pre-bid conference for the property,” PMO chief Karen Singson said.

Bidders have until 11:30 a.m of Aug. 14 to submit their proposals to the PMO bids and awards committee in Makati City.

Seven big property developers earlier qualified for the auction, including Robinson’s Land Corp., Empire East Land, Ayala Land Inc., Rockwell Land Corp., Century Properties Group Inc., SM Land Inc. and Filinvest Land Inc.

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