- Federico Pascual points out something I didn’t know about the Masinloc auction. The government lowered the down payment requirement from the 40% that YNN failed to make to 20% only. That’s a nice boost to the buyer’s expected return on equity and the government treasury takes a corresponding hit to it’s “return.”
- Napocor President del Callar clarifies, per a GMA News report, that the cloud seeding was intended not to raise water levels in the dams but instead to lower the atmosphere’s temperature.
- Tony Lopez of the Manila Times with some insights on Transco, and San Miguel going to where the money is.
- SunPower will be dedicating its new fabrication plant in Batangas this Monday.
Update: It looks like Federico Pascual got it wrong. PSALM here is talking about the 40% down payment.
2 Comments
Nick,
I didn’t know about Cyril’s claim of lowering atmospheric temperature and don’t know the science of this, much less the benefit-cost considerations.
I have not seen any report on how much the other parties bid for Masinloc.
As I noted in an update to the article above, the journalist probably got it wrong – the downpayment was 40% apparently.
Several articles reported the other bid prices. Here’s one: http://www.manilastandardtoday.com/?page=business1_july27_2007
$710 million – First Gen
$650 million – Anglo Cayman Energy Dev. (China)
$606 million – Suez-Tractabel
$588 million – Ranhill Berhad
It’s not clear to me if there was a sixth bidder. Apparently Trans-Asia Oil did not submit a bid.
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