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MBABANE – Rexy’s Investments has been shortlisted as best evaluated tenderer to be granted the tender for auctioning of EEC’s second hand vehicles.

Tender results issued by Eswatini Electricity Company (EEC), which were published by the Swaziland Public Procurement Regulatory Agency, reflect that the company scored 87.67 per cent during evaluation.

This score was almost similar to what was attained by Buzzby Services who amassed 87.34 per cent points during evaluation. Swazi Auctioneers who had the same bid price of five per cent with Buzzby scored 85.48 per cent.

The lowest bidder among the three competing companies was Rexy’s Investments who priced their bid at four per cent.
In accordance with the Public Procurement Act of 2011, it was announced that a period of 10 working days would be allowed for the submission of any application for review.

“The contract award decision does not constitute a contract,” it was clarified.
Other clients whose auctions get conducted by Rexy’s Investments include, but are not limited to Nedbank and American Embassy among others.
It should be mentioned that auctions where premium vehicles are sold at low reserve prices than what the retail market has to offer continue to gain interest among bidders.

This was evident at a recent Nedbank auction where competitive bids of motor vehicles on offer were escalated by more than 100 per cent from the reserve prices.

One such example was at the auction which was also attended by nearly 20 people who witnessed fierce competition for a Kia Rio 1.2 MT with only 21 763 on the mileage clock whose hammer fell on E160 000 from a reserve price of E91 000 despite being one of the lowest buys at the auction.

Regardless of the highly contested bids for some motor vehicles, others, especially the pricey assets such as the Freightliner Argosy 14.0 Detroit Diesel was sold at its reserve price. A horse truck was the most pricey item on offer with a reserve price of E800 000.

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