PSALM extends anew sale of Malaya plant and its underlying land

21 Apr 2020

In light of the extension of the enhanced community quarantine, the Power Sector Assets and Liabilities Management Corporation (PSALM) has again moved the deadline for the submission of bids for the ongoing Third Round of Public Bidding for the Malaya Thermal Power Plant (MTPP) and its underlying land from 19 May to 30 June 2020 at 12 noon.

Necessarily, the dates of the other bidding activities were also adjusted. The new deadline for the filing of a request to bid as a consortium is on 11 May 2020. The submission of documentary deliverables is rescheduled to 15 May 2020, while the release of Asset Purchase Agreement to qualified bidders is set to happen on 16 June 2020 or not later than seven (7) days prior to bid submission deadline.

PSALM will disclose the minimum bid price to qualified bidders immediately after securing the Board’s decision on the matter. PSALM’s Board is awaiting feedback from the Commission on Audit relative to the request of PSALM to allow a discounting mechanism that would lower the minimum bid price.

PSALM is continuously monitoring the COVID-19 outbreak and will issue appropriate Supplemental Bid Bulletins to modify dates of the bidding process should circumstances warrant.

Strategic Communications and Partnership Division
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