Article: No bidders for FTI

GOVERNMENT efforts to raise money to plug a widening budget deficit hit a roadblock after no one showed up during Thursday's auction of a key state asset.

State-run Privatization and Management Office (PMO) declared a failure of bidding for the 103-hectare block of the Food Terminal Inc. (FTI) property in Taguig City after no one submitted a bid on or before the 3 p.m. deadline.

"We are constrained to announce that there is a failure of bidding on the FTI property," Felipe Gella, PMO officer, said.

Earlier, Finance Undersecretary Crisanta Legaspi claimed that four big-name property firms, including Ayala Land Inc. (ALI) and Robinsons Land Corp. (RLC), had expressed interest in the FTI ...

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