Published January 19, 2021, 8:00 AM
State-run Power Sector Assets and Liabilities Management Corporation (PSALM) has cornered prepayment of P202.106 million from Sorsogon I Electric Cooperative (SORECO I), as part of the restructuring deal that the parties have entered into.
For the amount prepaid by the Sorsogon power utility, it was noted that the loan was accessed from the Development Bank of the Philippines (DBP), a government financing institution.
PSALM President Irene Joy Besido-Garcia
As noted by PSALM President Irene Joy Besido-Garcia, “since SORECO-I entered into restructuring agreement, it religiously paid its monthly amortizations for its obligations and consistently updated its monthly amortizations for deferred accounting adjustment (DAA) charges.”
Published January 2, 2021, 6:00 AM
State-run Power Sector Assets and Liabilities Management Corporation (PSALM) is disposing another real estate asset by March 25 next year – and this time, it is a bigger-scale property in Barangay Lagundi in Mexico, Pampanga spanning 50,447 square meters.
The company issued invitation to bid (ITB) for its second round bidding on December 29, 2020; and interested buyers may start their due diligence process on January 4, 2021; while the pre-bid conference where they can raise questions and concerns on the asset’s divestment is scheduled on February 10.
PSALM apprised prospective takers that “the minimum bid price for the sale of the property will be announced at a later date and will be issued to interested parties/bidders through a supplemental bid bulletin or through re-publication of the ITB.”