DOF to rebid Manila Gas properties

The Department of Finance (DOF) will rebid the two properties of Manila Gas Corp. in Manila and Cebu today, a ranking finance official said.

Finance Undersecretary Jay Singson said the bidding last Sept. 15 failed as only one bidder surfaced.

During the bidding last month, only Robinsons Land Corp. submitted its bid. It was learned that Ayala Land Inc. was also present during the bidding process, but did not participate in the exercise.

Singson said they would probably resort to a negotiated sale if today’s bidding fails anew. "If there would be only one bidder, we may accept it," he said.

Under the present bidding rules of the government, it may opt to have a negotiated sale if there are two consecutive failed biddings of the assets.

Manila Gas is one of the two last assets to be disposed off by the DOF this year.

By November or December this year, the DOF will auction off the International School properties. – Donnabelle Gatdula