TRANSPORT Secretary Arthur Tugade should look for business mogul Manny Pangilinan who appears to be missing amid the still unsettled mess in the faulty remote frequency identification systems of toll roads owned and operated by Metro Pacific Investments Inc.
Pangilinan heads MPIC which is responsible for the Cavite, North Luzon and the Subic-Clark-Tarlac expressways where RFID systems are still malfunctioning since their deployment last year, causing endless inconvenience to motorists and the riding public.
Tugade, who is tasked by President Rodrigo Duterte to make the Department of Transportation responsive to the needs of the people, ordered the implementation of RFIDs in the country’s toll roads in accordance with the cashless payment policy of the government to help curb the spread of the coronavirus 2019 disease.
But the project inexplicably became a total fiasco on the part of the MPIC-owned tollways as their RFIDs performed miserably. More disappointing is that Pangilinan is nowhere to be found to make the necessary explanations to the public.
Without Pangilinan, the axe should fall on Tugade.
The government has cautioned the public about Masa Mart Business Center (MMBC), which has been posing as a multilevel marketing program to entice the public into its unauthorized investment schemes.
In an advisory dated Jan. 12, the Securities and Exchange Commission urged the public to avoid or stop engaging in the investment-taking activities of Masa Mart and its related entities or representatives, as they have yet to file the requisite registration statement nor secure the approval of the corresponding permit to sell for such activities.
Masa Mart was found to be offering a Subscription and Gains Program, under which a member may invest at least P1,250 to P500 million, in exchange for returns of P2,746 to about P11.65 billion depending on the lock-in period. This entails an interest of up to 30 percent per month or up to 2,561.81 percent per year.
The group also offers the MMBC P5,888 Combo Package, where members could invest P5,888 for promised gains of P20,000 after six months; and the Do It Yourself Subscription of 24 months, Roll-over Program, where members could generate an income of P100,000 to P12 million after two years.
Other offers include the United Masa Coin (UMC) or the XUM Coin, which is purportedly a cryptocurrency promoted through a software-controlled app called UmcUSDTBot, as well as a referral program, among others.
Masa Mart offers similar investment programs as TBCMMP Masa Mart Inc., which was earlier issued with an advisory on April 14, 2020. Records show TBCMMP and Masa Mart share the same president, Jessie R. Royo.
Masa Mart is registered with the commission as a One Person Corporation under the Revised Corporation Code, and with the Department of Trade and Industry.
As many of us have been told before, don’t be fooled by investments offering gains that are too good to be true.
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