Auctioning yellowfin tuna boxes used in Kanduoiygiri

Maldives Industrial Fisheries Company (MIFCO) has decided to auction off yellowfin tuna boxes used at the factory operated in K. Kanduoiygiri.

MIFCO stated that it has decided to auction 35 damaged fiberglass yellowfin tuna boxes used at the factory. The starting price for the auction is MVR 5,000 per box, according to MIFCO. The company has now opened the opportunity for interested buyers to register to participate in the auction. Accordingly, those who wish to participate in the bidding can register until 02:00 pm tomorrow.

MIFCO stated that the auction will be held on the 16th of this month at 11:00 am at the MIFCO Head Office meeting room. Interested parties must be present at the auction venue. Furthermore, MIFCO stated that every attendee must submit their bid for a box in a sealed envelope before the auction begins.

"The auction will begin with the highest price among the submitted bids, and the auction will proceed among the attendees, with the highest bidder being determined in the presence of the auction participants," MIFCO stated.

MIFCO stated that parties who do not submit their price in a sealed envelope at the start of the auction will not be able to participate.

Every participant in the auction must pay a cash deposit of MVR 10,000 (ten thousand), and the deposit money will be refunded to those who do not win the auction, MIFCO said. Additionally, MIFCO stated that the winning party must remove the items within 05 days from the date of signing the agreement after being notified of winning the auction.