By Chito Chavez
A party list group asked the Land Transportation and Franchising Regulatory Board (LTFRB) and concerned authorities to ensure that foreign firms whose application to operate as transport network company (TNC) were earlier denied “do not circumvent the law to legalize their operation’’.
Atty. Vigor Mendoza 1-UTAK party-list Representative said that on December 20, 2018 the application of Velox a Singaporean firm with more than 60 percent of its share owned by Velox South-East Asia Holdings Pte Ltd.
However, Mendoza feared that Velox may be trying to legitimize its operation by making efforts to transfer 60 percent of its share to Filipino owned companies.
If true, Mendoza said that this is a violation of Commonwealth Act number 1088 otherwise known as the Anti-Dummy Law.
“We trust this matter cannot be cured by a simple motion for reconsideration but like other applications filed before th committee the application of Velox would have to be refilled all over again and pass the processes and scrutiny of this honourable committee,’’ Mendoza said.
“On this score, we humbly submit that waving a piece of paper showing that it is now a Filipino corporation is not enough to outweigh the clear wording of th artiles of incorporation showing that it is a foreign company,’’ he added.
Mendoza insisted the resolution of this “matter would be best left to the LTFRB Board in the exercise of its quasi-judicial powers where all affected parties are notified and allowed to cross examinw the documents presented.
1-UTAK is grateful to the Land Transportation Franchising and Regulatory Board (LTFRB) for upholding the Philippine Sovereignty against Velox Technology Philippines Incorporated who tried to apply for a Transport Network Company franchise .
In an interview in Quezon City, Mendoza said “they will review if there is any criminal liability on part of Velox such as Anti-Dummy Law, tax evasion, perjury and falsification of public documents’’.
He stressed that any firm, foreign or local, who wants to do business in the Philippines must always respect and follow our laws, culture and the people, regardless of their wealth and stature in life.