TransCo bidders required to post $30-million bid bond
Investors interested in bidding for the 25-year concession of the National Transmission Corporation (TransCo) must post a $30-million irrevocable unconditional standby letter for credit....
Allow us the opportunity to clarify a number of issues that were raised by Mr. Neal Cruz in his As I See It column entitled "A 1-2-3 in Masinloc power plant deal" that was published on 19 May 2006 and the follow-up column titled "More mysteries in botched Masinloc sale" that came out on 29 May 2006....
PSALM sets prequalification standards for TransCo bidders
Investor groups interested in bidding for the 25-year concession of the National Transmission Corporation (TransCo) must have a member or affiliate who can meet the technical prequalification criteria. At the same time, this member or affiliate must have a net asset value or market capitalization of $500 million....
YNN delivers acceptable $14-million performance bond
The Power Sector Assets and Liabilities Management Corporation (PSALM) has received from YNN Pacific Consortium Inc., winning bidder of the 600-megawatt Masinloc coal-fired power plant, the $14-million performance bond required after extending the deadline from March 31 to June 30 to deliver the $227-million upfront payment, rentals and option price....
Statement of Mr. Froilan A. Tampinco, Vice President for Asset Management and Electricity Trading, in response to issues raised by Philippine Star columnists Federico D. Pascual, Jr. (04June 2006) and Mary Ann LL. Reyes (31 May 2006 column)
Permit us to clarify issues raised by Mr. Federico D. Pascual Jr. in his Postscript column entitled "Masinloc bid winner unable to pay $227M" that was published on 4 June 2006, and Ms. Mary Ann LL. Reyes in her Hidden Agenda column titled "How serious is gov't?" that came out on 31 May 2006....