Importance

Regional Airports Company Ltd. will be managing an asset base of significant value and complexity. Hence it is crucial to recognize the assets in its correct class and value at inception. It’s important to value the Assets of the Company for Financial Reporting and Future Decision-making Purpose. This ensures the assets are Under/Overvalued and reported accurately for reporting purposes meeting the standard requirements of IFRS. Moreover, this process will increase the confidence level of the management, auditors, investors and other key stakeholders in the reported asset values of the Company.

Operational Airports Transferred from Ministry of Transport and Civil Aviation (Department of Regional Airports)

Recommendation

To undertake a valuation exercise by a competent independent party  through tender process as detailed in the TOR attached.

Objectives of TOR

To outsource valuation of the company’s existing assets as per the International Standards and Procedures to give a True and Fair Value for assets in use.

Tasks and Responsibilities

• Taking physical inventory of the assets in the company.
• Valuing the assets as per International Standards.
• If the valuator in his professional opinion believes that other methods of valuation may be appropriate, he may also Include these methods in Addition to those required. However, the valuator must provide a proper justification for using the additional method.
• Upon the result of conducted analysis, the consultant should provide a detail report for the management and finance of Regional Airports Company Ltd.
• The valuator is responsible to deliver reports with accuracy and complete transparency.

 Deliverables:

• To prepare and submit hard and soft copies of the valuation report. It should contain how the valuation was carried out for the Assets together with method applied and submitted.

Eligibility Criteria

• A Profile of the valuator Containing the Firms/Company’s/Individual’s Experience (Experience in Valuation is Preferable)
• The Quotation Should Include all Fees Together with Taxes and Other Such Charges.
• The Party Should have, Carried Out Asset Valuation of At least 3 Projects.
• Will be an added advantage if the party have done any Aviation related Valuation.

Reporting Line

• Report Directly to Management

Payment and Other Fees

• Payment Would be made upon Completion and Submission of the Valuation Report.

Interested parties please submit proposals to [email protected] via email before 1400hrs on February 20, 2021. 

Enquiries to be submitted via email to [email protected]