Finish power firm eyes Transco assets
Philippines Star Business, January 8, 2004

A big Finish power firm has become the latest entity to express keen interest in bidding for the assets of the National Transmission Corp. (Transco), a ranking Transco official said.

"I have talked with another group. A group from Finland came over this morning expressing interest in Transco," the official said.

The official said this marks the first time the unnamed Finish firm will participate in a power-related business in the country.

According to the Transco official, the firm sent its local representative, and another group will be coming over next month to conduct technical due diligence.

Transco is about to start a negotiated deal with Singapore Power Corp. (SPC), the sole bidder during the last two biddings Transco conducted for its transmission assets.

But the Transco official said most of the interested investors are wary about the out­come of the election. "They are still in a wait and see attitude. They will somewhat use the results of the election as the barometer for th6ir investment in the country," he said.

However, he noted that Transco remains an attractive investment. It recorded a net income of P16 billion in the first nine months of 2003 and is still debt-free.

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