DOTC warned about firm selling fake license plates
More News from Tetch Torres-Tupas
MANILA, Philippines – An anti-corruption group warned the Department of Transportation and Communication (DOTC) against another firm allegedly embroiled in a controversy and now wants to bag the P3.85 billion license plate contract.
In a letter addressed to DOTC Secretary Emilio Abaya, the Anti-Trapo Movement (ATM) said the Power Plates Development Concepts Inc. had been allegedly involved in selling fake commemorative license plates in 2004.
ATM said the commemorative plates then sold for between P2,500 and 3,000 had been marketed as a way to be exempted from the MMDA’s color coding scheme.
Recent audited financial statements of the firm submitted to the Bureau of Internal Revenue (BIR) and the Securities and Exchange Commission showed a declared a net income of P41,729 last year, the group said.
The comparatively minuscule earning had been an improvement over the P22,356 the firm declared for 2011.The 2012 net income represents the remainder of the sales of the company less its operating expenses.
From a profit of P330,528 in 2012, the firm reported total operation expenses of P 288,799 resulting in the net income of P41,729.
It fared no better the previous year when its profit for 2011 of P580,929.75 was eaten by total operation expenses of P558,573 resulting in a net income of P22,356.
The group had earlier called Abaya’s attention to Power Plates foreign partner J. Knieriem B.V. Goes (JKG), who also has no financial capacity to carry out such project.
The bidding for the project opened last May 6 to 7. The winning bidder will supply license plates for all registered vehicles both new and old for the next five years. The government hopes that the contract will also address the shortage issues that hounded the Land Transportation Office for months.
Get Inquirer updates while on the go, add us on these apps:
Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94