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Hontiveros questions Dito’s financial capacity to operate

SENATOR Risa Hontiveros has questioned DITO Telecommunity Corporation‘s financial capacity to operate as thr country’s third telco player amid reports of its huge debts.
Hontiveros said the National Telecommunications Commission (NTC) should look into DITO’s financial capacity to back up the services it will provide to the public.

The National Telecommunications Commission should also look into the financial capacity of DITO to provide the services it will be offering to the public,” said Hontiveros.

She stressed that all doubts about DITO’s financial standing should be completely erased before it operates.

After all, this is standard procedure on the part of the NTC with respect to the issuance of any provisional authority or certificate of authority to operate as a telecommunications entity. Hindi lang technical audit ang dapat ginagawa, pati financial audit din,” stressed the senator.

Earlier reports have alleged that DITO and its parent company, the Udenna Group,
only has a P20 billion equity as against its P150 billion debt.

Meanwhile, Hontiveros insisted that a Chinese identity is truly behind DITO, making the telco still a threat to national security.

Our compatriots who speak on DITO’s behalf before the media are really just a Filipino mask over a Chinese identity. Kaya maliban sa pagkuwestiyon sa financial capability ng Dito, ang banta nito sa pambansang seguridad natin ang dapat ding bigyang diin at linaw,” the senator added.

Additionally, the 60% of the company nominally owned by Filipinos is just a thin shell covering the bulk of the Chinese capital powering the project. And that is what gives the Communist Party of China, through its state-run enterprise ChinaTel, the power and leverage to call the shots in Dito’s day-to-day operations,” she said.

DITO is set to start operations on March 8.