The world-class resort has been under the CDC since the government took over its management and operations in 1999 from the Mondragon Leisure and Resorts Corp., owned by former Tourism Secretary Jose Antonio Gonzalez, for the latter’s alleged non-payment of dues to the CDC, as well as to the Philippine Amusement and Gaming Corp.
After a pre-bidding conference held recently, the CDC announced the following qualified bidders: Kumho, described as a "transnational, diversified Korean-Filipino group," the American firm Avenue Asia, the Korean NTM Group, and the Korean-Chinese Hong Kong group Peregrine together with Tan Holdings.
The CDC said several private international and local corporations submitted pre-bidding documents in time for the deadline last May.
The CDC also said that its bidding committee is further scrutizining the capabilities of the four corporations so that it can submit to the CDC board its recommendation on the final winner for approval.
The announcement on who will take over the Mimosa estate is expected to be made this June, the CDC also said.
The CDC, however, has not bared whether arrangements have been made with the bidders on the huge amount owed by the MLRC to its bank creditors. In the past, the CDC had found difficulty in attracting a new investor at Mimosa on the issue of the debts reportedly amounting to at least P7 billion.
The Mimosa estate covers the four-star Holiday Inn resort-hotel, several executive villas, restaurants, a casino, and a 27-hole golf course.