The companies short-listed to vie for Jamaica's sugar assets are yet to be issued with the documentation to move the process forward, the Development Bank of Jamaica (DBJ) confirmed yesterday.

The five prequalified companies from 11 that expressed interest are to be issued with the information memorandum that will guide the bids they submit.

The DBJ yesterday suggested that earlier reports that March 2007 was the closing date for bids were off the mark.

That date remains the deadline DBJ has given itself to finalise the valuation of sugar assets.

"The pre-qualified companies will be invited in due course to purchase the Information Memorandum for the privatisation of the Government-owned assets of the Jamaican sugar cane industry and submit a proposal," said DBJ communications officer Claudette White.

"At that time, the final bid date will also be announced."

In the time being, the DBJ said five companies, the two Jamaican Energen Development Limited and J. Wray & Nephew Limited, Angostura Limited from Trinidad, Coimex from Brazil and Dhamphur Sugar Mills from India were chosen based primarily on their ability to raise financing for the venture, their good track record and oases and their record of success in the sugar cane industry.

"Each Applicant's submissions were evaluated and ranked in accordance with the following criteria, which were outlined in our offer document," said White.

susan.gordon@gleanerjm.com