The Philippine Deposit Insurance Corporation (PDIC) is set to sell on “as-is, where-is” basis a commercial lot for a minimum disposal price of P76,427,120.00 in a public bidding on July 24, 2012. Sealed bids will be accepted by the PDIC Asset Management and Disposal Department III (AMDD III) from July 18, 2012 up to 12:00 noon on July 24, 2012. The opening of bids will be held at 2:00 p.m. on July 24, 2012 at the PDIC Training Room, 9/F SSS Bldg., Ayala Avenue, Makati City. All bids below the minimum disposal price shall be automatically disqualified.

The property, a vacant lot with a net lot area of 2,011.24 sqm, is located along Taft Avenue, Barangay Sta. Clara, Pasay City. It is beside the LRT Libertad station and a stone’s throw away from the Pasay City public market and Puregold Libertad.

Detailed information on the asset as well as the bidding process can be accessed at the PDIC website, www.pdic.gov.ph or can be requested from the AMDD III office located at the 7th Floor, SSS Bldg., Ayala Avenue, Makati City. The bid form and the Conditions of Bid may also be secured free of charge from AMDD III. Interested buyers may call 841-4665 or 841-4671.

Prospective bidders are advised to take steps to verify the actual condition of the property, titles or other evidence of ownership, as well as the size and area of the commercial lot. Please contact Mrs. Rosario C. Arnaldo, Vice President for Asset Management and Disposal Group, at telephone number 841-4651 and e-mail address rcarnaldo@pdic.gov.ph, for more details. All bids must be accompanied by a bond or deposit equivalent to at least 10% of the submitted bid, in the form of Manager’s Check issued by a commercial/universal bank in favor of PDIC. The winning bidder has thirty (30) working days from receipt of the Notice of Award to fully pay the balance.

The immediate disposal of assets especially big ticket Real and Other Properties Acquired (ROPA) items is consistent with PDIC’s thrust to expeditiously liquidate non-performing assets under its five-year strategic Roadmap.

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The Philippine Deposit Insurance Corporation (PDIC) was established on June 22, 1963 by Republic Act 3591 to provide depositor protection and help maintain stability in the financial system by providing permanent and continuing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is P500,000 per depositor. All deposit accounts by a depositor in a closed bank maintained in the same right and capacity shall be added together. A joint account shall be insured separately from any individually-owned deposit account.

PDIC news/press releases and other information are available at the website, www.pdic.gov.ph.

Corporate Communications Dept.
Tel: (O2) 8414637 / Fax (02) 8414833
Trunkline: (02) 8414000
Email: ccd@pdic.gov.ph