PDIC raises P35.8-M from bidding of assets

The Philippine Deposit Insurance Corporation (PDIC) raised a total of P35.8 million from the public bidding of corporate and closed banks’ assets last week, the third public bidding conducted for the year.

The assets sold comprised of five closed banks’ properties and one corporate property, the collective bid offer of which generated a premium of P5.8 million against the minimum disposal price of P30.0 million. The PDIC bidded out a total of 91 real properties last week for a combined minimum disposal price of P46.73 million.

The real properties sold were located in the cities of Makati, Mandaluyong and Taguig and in the provinces of Isabela, Ilocos Sur and Pangasinan. Unsold properties from the public bidding will be offered for negotiated sale.

The PDIC conducts regular public biddings in accordance with its strategic direction to expeditiously dispose non-financial assets. Creditors of closed banks benefit from these public biddings because the proceeds from the sale of closed banks’ assets are added to funds held in trust for the closed banks and are used to help settle claims of uninsured depositors and creditors. Payment to these parties is subject to the rules on concurrence and preference of credits. Meanwhile, proceeds from the sale of corporate assets are added to the Deposit Insurance Fund, the PDIC’s funding source for deposit insurance payments and grant of financial assistance to banks.

Interested buyers who were not able to participate during the public biddings may still avail of the assets for sale posted in the PDIC website, www.pdic.gov.ph, via negotiated sale. PDIC’s Property Finder in its website provides information on available inventory of assets for disposal. Prospective buyers may also call the Asset Management and Disposal Group (02) 841-4650 for inquiries on assets for sale.

Comments

Empanada festival: A celebration of good taste and good life

By Dominic B. dela Cruz & Leilanie G. Adriano Staff reporters BATAC CITY—If there is one thing Batac is truly proud of, it would be its famous empanada-making business that has nurtured its people over the years. Embracing a century-old culture and culinary tradition, Batac’s empanada claims to be the best and tastiest in the country with its distinctive Ilokano taste courtesy of its local ingredients: fresh grated papaya, mongo, chopped longganisa, and egg. The crispy orange wrapper and is made of rice flour that is deep-fried. The celebration of this city’s famous traditional fast food attracting locals and tourists elsewhere comes with the City Charter Day of Batac every 23 rd of June. Every year, the City Government of Batac led by Mayor Jeffrey Jubal Nalupta commemorate the city’s charter day celebration to further promote its famous One-Town, One Product, the Batac empanada. Empanada City The Batac empanada festival has already become...

Free dormitories eyed for Nueva Era students in LC, Batac

Nueva Era mayor Aldrin Garvida By Dominic B. dela Cruz ( Staff Reporter) Nueva Era , Ilocos Norte—The municipal government here, headed by Nueva Era mayor Aldrin Garvida is planning to establish dormitories in the cities of Laoag and Batac that will exclusively cater to college students from the said cities. “Sapay la kuma ta maituloyen iti mabiit tay ar-arapaapen tayo ken iti munisipyo a maipatakderan kuma dagiti annak tayo a college students nga agbasbasa idiay siyudad iti Batac ken Laoag iti libre a dormitoryo a bukod da ngem inggana nga awan pay ket an-anusan mi paylaeng nga ibaklay kenni apo bise mayor iti pagbayad da iti kasera aggapu iti bukod mi a suweldo malaksid dagitay it-ited iti munisipyo ken iti barangay nga stipend da kada semester, ” Garvida said. Garvida added that the proposed establishment of dormitories would be a big help to the students’ parents as this would shoulder the expenses of their children for rent and likewise they would feel...

P29 per kilo rice sold to vulnerable groups in Ilocos region

BBM RICE. Residents buy rice for only PHP29 per kilo at the NIA compound in San Nicolas town, Ilocos Norte province on Sept. 13, 2024. The activity was under a nationwide pilot program of the government to sell quality and affordable rice initially to the vulnerable sectors. (Lei Adriano) San Nicolas , Ilocos Norte —Senior citizens, persons with disability, and solo parents availed of cheap rice sold at PHP29 per kilogram during the grand launching of the Bagong Bayaning Magsasaka (BBM) Rice held at the National Irrigation Administration compound in San Nicolas, Ilocos Norte province on Sept. 13, 2024. “ Maraming salamat Pangulong Ferdinand R. Marcos Jr. sa inyong pagmamahal sa Region 1 lalong-lalo na sa bayan namin sa San Nicolas,” said Violeta Pasion, a resident Brgy. 18 Bingao in this town. The low-priced grains were sourced from the National Irrigation Administration’s (NIA) contract farming with irrigators' association members in the province. Along with Pasion, Epi...

The Ilocos Times

Search This Blog