PSALM adopts electronic tax filing and payment system
The Power Sector Assets and Liabilities Management Corp. (PSALM), the government agency tasked to privatize the assets of the National Power Corp., recently adopted the Electronic Filing and Payment System (eFPS) to ensure a more efficient and cost-effective filing and payment of its corporate and individual income taxes, including taxes subject to withholding such as the Value-Added Tax and other percentage taxes. ...
PSALM reports high investor interest in National Power privatization
The Power Sector Assets and Liabilities Management Corporation (PSALM), the government's power privatization arm, recently reported that local and foreign investors remain supportive of the privatization of the generation assets of the National Power Corporation based on their positive response to PSALM's Investor Preliminary Asset Review Process (IPARP) program....
YNN submits amended performance bond to PSALM
The Power Sector Assets and Liabilities Management Corporation has received from YNN Pacific Consortium Inc., winning bidder of the 600-megawatt Masinloc coal-fired power plant, its amended $11.14-million performance bond that extends the expiry date from April 7, 2006 to August 2006....
PSALM awards Naga land lease to Salcon Power
The Power Sector Assets and Liabilities Management Corporation, the agency tasked to privatize the assets of the National Power Corporation, formally transmitted the Naga Land Lease Agreement to winning bidder Salcon Power Corporation in a simple affair held on December 19. ...
Statement of Vice President for Asset Management and Electricity Trading Froilan A. Tampinco in response to issues raised by columnist Federico Pascual, Jr. of the Philippine Star (published February 16, 2006)
For the past 70 years, the power plants and transmission lines that were put up to power the country's development were financed through borrowings. This is clearly reflected in the 2004 audited financial statements of the National Power Corp. whose total capital infused by the government, including contributions from the Philippine Games and Amusement Corp. is merely P31 billion, or 2.9% of its total asset base amounting to P1,055 billion....