BIDS AND AWARDS COMMITTEE

RESOLUTION No. 06-B, Series of 2019

Whereas, HIJO RESOURCES CORPORATION, has several heavy

equipment and machineries that were assessed by the Engineering Shared
Services as either unserviceable or beyond economic repair;

WHEREAS, RODOLFO A. URMENITA/ CIRIACO SENARILLOS, third-

party appraisers were commissioned to assess and appraise these machineries
and equipment for disposal, arriving at the aggregated value of P 2,155,000.00,
attached as Annex “A” is the Appraisal Report;

WHEREAS, the matter of disposal of these assets were referred to the Bids
and Awards Committee, and as agreed upon after discussion, the Committee
recommends for these assets to be made subject of disposal for the minimum bid
amount of TWO MILLION PESOS (P 2,000,000.00), subject to the process and
under the guidelines as the Committee may thereafter enact;

WHEREAS, an Invitation to Bid was published twice in Mindanao Times

Newspaper on April 28, 2019 and May 3-8, 2019, and at the same time advertised
in DXDN Radyo Ukay with the first week of April, but no interested buyers
submitted any bid;

WHEREAS, on July 18, 2019, the Committee convened to discuss

continuation of the disposal proceedings where it was agreed that the BAC
Secretariat will send out the Invitation to Bid to at least four (4) identified buyers,
namely: 1.) HPIC Manufacturing Industry; 2.) NVISION MAZ ENTERPRISES; 3.)
Innova Plas Packaging Corporation; and 4.) Mr. Rodolfo A. Urmedita / Ciriaco
Senarillos;

WHEREAS, from the four (4) invited, only Mr. Rodolfo A. Urmedita / Ciriaco
Senarillos made known their intention to purchase the identified machineries and
equipment and thereafter submitted his closed bid on July 18, 2019;

WHEREAS, in the scheduled deliberation on July 18, 2019, the Committee

agreed to proceed with the Asset Disposal notwithstanding receiving only one (1)
closed bid, based on the foregoing reasons:

1. Earnest efforts were made by the Committee and the BAC Secretariat
to reach out to as many interested buyers, but to no avail.

2. The disposal process has long been delayed, with the opening of the
bids originally scheduled on April 28, 2019, this was due to failure to
meet the three (3)- supplier rule, thus, delaying further the disposal of
the unserviceable assets at a value as originally appraised.

WHEREAS, the Committee, after an exhaustive deliberation hereby

recommends to continue with the disposal proceedings and open the closed bid

Page | 1
submitted by Rodolfo A. Urmedita / Ciriaco Senarillos, with bid amount of TWO
MILLION ONE HUNDRED FIFTY-FIVE THOUSAND PESOS (P 2,155,000.00);

WHEREFORE, IN VIEW OF THE FOREGOING, for having submitted the

most responsive bid, the committee hereby awards the sale of heavy equipment
and machineries to Mr. Rodolfo A. Urmedita / Mr. Ciriaco Senarillos in the amount
of TWO MILLION ONE HUNDRED FIFTY-FIVE THOUSAND PESOS (P
2,155,000.00).

Done in Davao City, on 18 July 2019.

ANNA MAE A. de GUZMAN ARIEL E. MELLORIA

Permanent Member Permanent Member
OHRM Representative Finance Representative

ENGR. MARVIN S. LACRE ATTY. PRINCESS CLAUDIN O. BALINO

Non-Permanent Member Chairperson
Engineering Shared Services Corporate Shared Services
Representative Representative

Page | 2