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(Meralco shows up) “IMC prospect dims, though,”- Zamcelco


(Enlightenment—Passage of the Day)




JUST in the nick of time, Meralco, through its lawyer, appeared at Zamcelco's board room in Brgy. Putik last Friday morning (June 8), the day given as their ultimatum to deal with our power coop that’s in dire need to rehabilitate its major facilities to help resolve its power woes through IMC.

ZAMCELCO OIC Manager Engr. Ed Ancheta confirmed the appearance of Meralco’s two representatives—their lawyer and another who heads their power firm in Pampanga, and that based on their dialogue last Friday morning, Zamcelco cut them short, and set the last deadline for Meralco to officially ink IMC with our power coop here by the 13th of June, or else, they’ll declare another failure of bidding again on IMC with bidder Meralco when they’ll have their board meeting by Wednesday, June13, at their board conference room in Putik.

“They said they’ll immediately inform their Meralco boss based in Metro Manila of what transpired in our dialogue with them here in our office this morning (June 8). If they fail again, then, we can now declare  failure of the bidding (with them),” Ancheta averred.

If such is the scenario, then, Zamcelco can conduct a new bidding for other investors to come in and participate with same unaltered IMC.

“We’ll wait up to June 13, that’ll be on Wednesday,” Ancheta pointed out, as he lamented that their ongoing transaction with Meralco on IMC now enters almost its 3rd year already.

Early last week, Zamcelco board Pres. Omar Sahi warned Meralco of their non-appearance by Friday (June 8), the day Zamcelco issued them an ultimatum, lest it’d jeopardize everything concerning their whole IMC deal which started some three years ago.

“We cannot wait this too long, as the need to already rehabilitate Zamcelco is of urgent concern. The more we delay it, the more there’s its diminishing return to worry of,” Sahi explained when interviewed earlier.

A top Zamcelco source named one of the new investors desirous to enter into IMC with our power coop as Global Port 900, Inc. that belongs to Party-List Rep. Mikee Romero, scion of construction magnate Reghis Romero II, and whose other business interests include mining, hotels, a 20% of stake in Air Asia Philippines and 15% in Alfred Yao’s Zest Airways. As a sportsman, Mikee owns a baseball team(Manila Sharks) and a basketball team (Global Port Batang Pier) in the PBA. (30)

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