SPUG PREPARES FOR UPCOMING VALUATION OF ITS ASSETS BY THIRD-PARTY APPRAISER
By: Demetrio M. Granada, Jr.
A two-day seminar was held on August 3-4, 2016 at NPC Head Office for SPUG and concerned groups of NPC Admin & Finance in preparation for the conduct of valuation of SPUG assets by an independent third-party appraiser, Royal Asia Appraisal Corporation.
Valuation of assets taken-over from the Electric Cooperatives (ECs) in 1988 was first conducted in 1994 by an external appraiser Beca International Consultants, Ltd. (BICL), part of the former Beca Carter Hollings & Ferner Ltd. of New Zealand. These assets taken-over from the ECs (e.g., plants & machineries, lands and buildings) - provided the initial impetus to SPUG’s eventual creation - have since grown by leaps and bounds and now comprise hundreds of small power plants, transmission lines, substations including aging power barges, among others.
Commencement of actual valuation works is yet to be finalized by NPC Finance and Royal Asia Appraisal Corporation. Submission of final report to NPC is thirty days prior to contract termination.