The selected firm will assist Credit Information Corporation (CIC), a government owned and controlled corporation, in producing a study on the valuation of CIC shares and in identifying potential buyers pursuant to the provision of Republic Act 9510, otherwise known as the Credit Information System Act.
Republic Act 9510, otherwise known as the Credit Information System Act (CISA), seeks to establish a centralized, comprehensive Credit Information System (CIS). The operation of a CIS is expected to “greatly improve the overall availability of credit especially to micro, small and medium-scale enterprises; provide mechanisms to make credit more cost-effective; and reduce the excessive dependence on collateral to secure credit facilities” (Section 2, CISA). The same law has created the Credit Information Corporation (CIC) “whose purpose shall be to receive and consolidate basic credit information, and to provide access to reliable, standardized information on credit history and financial condition of borrowers” (Sec. 5, CISA).
The CISA created the CIC with the national government owning 60% of common shares for a period not to exceed 5 years from the date of commencement of operations. Thereafter, the CIC will be privatized with the government selling at least 20% of its shares to qualified investors (Sec. 5(m), CISA). To successfully privatize the institution, it is important to provide a fair market valuation of CIC shares and to explore potential buyers who may be interested to purchase the government shares.
Scope of Work:
study the nature of operations, financial performance and prospects of CIC;
identify appropriate valuation tools applicable to the unique nature of CIC’s function and operations;
participate in meetings and interviews with CIC officials and potential buyers of government shares; and
prepare a report on fair market valuation of CIC shares and potential buyers of government shares.
A duly registered entity in the Philippines
Has excellent track record of rendering fair valuation reports on several Philippine companies
The selected firm will be engaged covering the period January 16, 2017 to May 31, 2017.
HOW TO APPLY:
Interested firms are strongly encouraged to send Letter of Intent and Proposal by email not later than 11 January 2017 to Ramon N. Cabrera, Assistant Program Officer (email@example.com;firstname.lastname@example.org)