INVITATION FOR COMPARATIVE PROPOSALS

Republic of the Philippines, has obtained a loan from the Japan Bank for International Cooperation (JBIC Loan PH-P215) for the Subic Bay Port Development Project (SBPDP) in order to make Subic Port world-class and globally competitive.

The Subic Bay Metropolitan Authority, through its Special Bids and Awards Committee (SBAC) for Port Commercialization, invites Bidders (See qualifications below) to bid for the hereunder project:

Name of Project : Operation and Management of the New Container Terminal -2 (NCT- 2) as a
Transshipment Hub for Shipping Lines

Project Location : Cubi Point, Subic Bay Freeport Zone

Project Description : The project involves the selection of bidders (Shipping Lines/Operators) for the operation, management and maintenance of the New Container Terminal 2 (NCT- 2) as a transshipment hub which includes, among others, the following facilities and equipment:

a) 14 hectare newly constructed container yard
b) 280 meter length newly constructed wharf
c) 2- unit Quay Gantry Crane (53 ton capacity)
d) buildings, equipment and utilities within the area of NCT-2

Minimum Requirements for Eligibility of the Interested Bidders/Operators:

Qualification/Technical

a) That the bidder is an operator of an international container shipping line or a consortium of operators of international container shipping lines or a consortium of operators of international container shipping line/s and any other entities.

b) That the bidder handles at least 2 Million TEUs per year or has an operating capacity of 100,000 (one hundred thousand) TEUs (combined for consortium).

c) That the bidder or consortium of bidders has a net worth of at least US$ Fifty Million (US$50,000,000) (combined for consortium).

Financial:

a) Each bidder or each member of the Joint Venture or Consortium must be able to comply with the following requirements during the submission of bids:

· Audited Financial Statements for the last five (5) years

· A Sworn Statement that there has been no material change in the financial condition since the last Audited Financial Statement.

· At least two (2) letters/Testimonials from reputable banks attesting that the bidder is banking with them.

b) Each bidder or Joint Venture or Consortium must be able to submit evidence of the availability of or the ability to raise the amount needed for the Operation and Management of NCT-2 in the amount of at least U.S.$ Fifty Million (U.S.$50,000,000.00).

Legal:

1. Each bidder must be able to submit during the submission of bids proof of legal eligibility and competence to undertake the Operation and Maintenance of NCT-2 in terms of corporate personality, government authorization and licenses including but not limited to registration with the competent governmental authorities such as the Securities and Exchange Commission.

2. In case of a foreign bidder, compliance with the legal requirements shall be required to be duly authenticated by the relevant consular official at the Philippine Embassy or Consular Office in the country of such foreign bidder. The authenticated documents must be in the English language.

3. As a condition for award, the equity participation of a foreigner shall not exceed forty percent (40%) of the total equity of the winning operator.

4. A bidder representing to be a Joint Venture or a Consortium shall be required to submit a sworn statement or undertaking that if awarded the contract, the members of the joint venture or consortium shall bind themselves jointly, severally and solidarily liable for all the obligations under the project agreement.

5. Bidders should be able to show proof of payment of current taxes and that they have no accountability for taxes from the Bureau of Internal Revenue (BIR) of the Philippines and from the tax authority in their country of origin or in the country they are operating.

The winning bidder/ port operator must comply with the ISPS Code and Philippine laws, rules and regulations.

Bid Documents may be obtained starting February 24, 2009, Monday to Friday only from 8:00 AM to 5:00 PM at the Project Management Office (PMO) located at Bldg. 29 Waterfront Road Ext. corner Washington Road, SRF Compound, SBFZ upon payment of a non-refundable amount of Php100,000.00 or US$2,500 to the SBMA Treasury Department at Bldg. 229, Waterfront Road, SBFZ.

Submission of completed bid documents will be on or before 2:00 P.M. of April 14, 2009 at the Board Room, Bldg. 229 Waterfront Road, SBFZ.

For any queries and/or clarifications, please address your communication in writing to Mr. Armand C. Arreza, SBMA Administrator, SBAC Chairman for Port Commercialization and send to Room 205 Bldg. 229, Waterfront Road, SBFZ or fax to (6347) 252-3014 or email to website: http:www.sbma.com.

SBMA reserves the right to reject any or all bids, waive any minor deviations, and award the contract for the Project to the bidder whose financial bid is the highest among the qualified bidders whose technical proposals are complying.

The Subic Bay Metropolitan Authority (SBMA) assumes no responsibility whatsoever to compensate or indemnify any bidder/port operator for any expenses incurred in the preparation of the bid.

SGD. ARMAND C. ARREZA
Administrator & CEO