Former Trustee Rowina Tan-Saban, who chaired the Resource Committee,shares information on I.S.M.'s land lease, the property management contract, the internet service provider and the status of the transaction with Megaworld.


From: Rowina Tan Saban
Sent: Mon 9/18/2006 1:57PM
To: info@ismstakeholders.com
Subject: FACTS - FACILITIES RESOURCES COMMITTEE
Attachments: FACTS - FACILITIES RESOURCES COMMITTEE.doc (34KB)

Attached is the fact sheet, tried to keep it as brief as possible, just enough to counter misinformation found in other blogspot, but should be enough for stakeholders to make their own judgement.

Please post.

Thank you.

ROWINA


FACTS - FACILITIES RESOURCES COMMITTEE

1. ISM's 7-hectare campus in Fort Bonifacio, Taguig is leased from BCDA (Bases Conversion Development Authority), a government owned corporation and not FBDC (First Bonifacio Development Corp).

2. When it was evident that ISM was not getting an acceptable service from Colliers Property Management, a transparent bid process (bidding, interviews, reference checks, etc) was conducted. Ayala Property Management was awarded the contract to commence July 2005 and since then has provided a superior quality of service that has been of real benefit to the school especially in the areas of cost reduction schemes, maximizing use of school equipments, maintenance and other projects, among others.

3. At a special Board meeting last June 19, 2006, the contract with Globe Telecom as ISM's internet service provider was confirmed by the Board without any objection and with the strong recommendation by Tom Navasero that the Board should support ISM administrators in their desire to upgrade the school's information technology capacity. The need for increased bandwidth was transparent and must be addressed immediately.

Highlights of the contract with Globe Telecom:

 

3.1 To provide an increased bandwidth from 3 mbps to 10mbps based on the suggestion of an IT consultant who visited ISM last March 2006;

3.2 Three companies submitted proposals --- Meridian Telekoms, PLDT IGATE and Globe Telecoms;

3.3 Provider PLDT-IGATE was not able to meet ISM's target date and indeed could not even supply their full bid by the closing date. Meridian Telekoms was recently purchased by PLDT and coping with some significant internal issues. Globe Telecoms was awarded a one year contract based on a competitive pricing, commitment to meet ISM's target date and also their strong reputation in the market.

4. MEGAWORLD - PROPOSED TEACHER HOUSING

 

4.1 In March 2004, ISM entered into a contract with Megaworld Corporation who committed to develop thirty (30) condominium units consisting of three (3) mid rise buildings with exclusive facilities (basement parking, clubhouse and swimming pool) on a 2,700 square meter that will be completed and available for occupancy no later than July 1, 2005.

4.2 Purpose of the project is to provide adequate teacher Housing, protect ISM against potential rental escalation in coming years and give the school market equity instead of being a mere lease payer. Similar projects by other international schools in the region (Shanghai American School and Jakarta International School) have been undertaken.

4.3 Financial viability was evaluated by FINCOM and endorsed to the Board for approval. Upcoming developments in the area including Serendra was also assessed but were clearly beyond ISM's means and could not meet ISM's required delivery date.

4.4 During construction, due diligence and inspection was conducted by ISM and leading to non-acceptance of the property to this date. In addition to punch list items, documentation requirements have not been completely submitted by Megaworld.

Opinions from reputable structural engineers were sought to determine the structural integrity of the units. To date, no decision has been endorsed to the Board that would encourage shifting to another nearby development and/or to abandon the Megaworld project.