Floating Casino Auction At Cebu Philippines Won By a Singapore-based Company
A Singapore-based company has won the Philippines’ Bureau of Internal Revenue bidding for a floating casino. The floating casino, M/V Philippine Dream is anchored along the strait of Mactan in the province of Cebu, Philippines.
Mandaue City Revenue Election Officer Emir Abutasil, chairman of the bidding, said that Aston PTE Ltd. submitted a bid of P59.7 million.
The chairman said the bureau auctioned the floating casino after its owner failed to pay P59.6 million in tax liabilities.
He said the winning bidder could start paying for its bid at any of the BIR-accredited banks in Mandaue City and Lapu-Lapu City.
The other two bidders, Singaporean-based Qaswa PTE Ltd. and Intercontinental Surplus Inc., submitted bids of P59.5 million and P32 million, respectively, Abutasil said.
However, Philippine Dream Inc., owner of the vessel, questioned the regularity of the bidding process.
Lawyer Roberto Consunji, counsel of Philippine Dream Inc., said that the firm had paid P100,000 as part of a tax amnesty, making the bidding process irregular.
The Bureau of Customs (BoC), on the other hand, has said would not release the vessel to the winning bidder until Aston PTE Ltd. settles the unpaid import duties and lien of the vessel.