4.37 Billion Capex? Where will they get the money for this? Hypocrisy at its peak!

Know the whole truth:

“BECAUSE SCHUTZENGEL TELECOM EARMARKS 4.37 BILLION PESOS CAPITAL EXPENDITURE, WHERE WILL THEY GET THE MONEY FOR THIS?”

HYPOCRISY AT ITS PEAK

OF ANGEL, MARC, YUSON, 

FARLEY, PINEDA, MENORCA,AND

ROVIC CANONO (A.K.A. “SHER LOCK”)

SCHUTZENGEL Telecom is the telecom business established by Angel, Marc, Yuson, Farley, Pineda, Menorca, and Canono in 2009. See RA 9857. [Ang Schutzengel Telecom ay ang telecom business na itinatag nina Angel, Marc, Yuson, Farley, Pineda, Menorca, at Canono in 2009]

In May, 2010, it was reported that Schutzengel Telecom is earmarking P4.37 billion in capital expenditure (capex)  to put up the  infrastructure for its nationwide broadband network project. [Noong May, 2010, ang Schutzengel Telecom ay nabalitang nagtatalaga ng halagang 4.37 bilyong piso bilang kapital na gugulin para sa pagtatayo ng pambuong bansang broadband network.]

“MANILA, Philippines - Newcomer  Schutzengel Telecom, Inc. (STI) is earmarking P4.37 billion in capital expenditure (capex)  to put up the  infrastructure for its nationwide broadband network project.” Source: http://news.abs-cbn.com/business/05/20/10/schutzengel-telecom-earmarks-p437-b-capex

Note: Capital expenditure (or capex) is the “money spent by a business or organization on acquiring or maintaining fixed assets, such as land, buildings, and equipment.”

Because Schutzengel Telecom earmarks 4.37 Billion pesos capital expenditure, where will they get the money for this? This is their answer:

“The NTC is looking to award the country’s fifth and final 3G operating licence through a ‘beauty contest’ style process. Schutzengel Telecom claims it is ‘legally, technically and financially capable to put up a 3G network’, adding that it ‘possesses the requisite financial resources and capability to render the proposed service WHICH SHALL BE SOURCED FROM A COMBINATION OF INTERNALLY GENERATED FUNDS, SUPPLIER’S CREDIT, LOANS AND OTHER FORMS OF FINANCING, and should it be necessary, from equity infusion.’” [Emphasis mine] Source: https://www.telegeography.com/products/commsupdate/articles/2010/01/22/schutzengel-telecom-submits-application-for-3g-licence/

 

Where will Angel and Marc  get the money For 4.37 Billion pesos capital expenditure to put up the  infrastructure for its nationwide broadband network project? Schutzengel Telecom said, from “INTERNALLY GENERATED FUNDS” (certainly thay are referring to our ABULOY, the Church’s fund), also “SUPPLIER’S CREDIT” (UTANG SA SUPPLIERS), at LOANS AND OTHER FORMS OF FINANCING (BANK LOAN???).

This was their plan: to established a telecom business to rival SMART, Globe and Bayantel. They plan to spend 4.7 Billion pesos to put up the infrastructure for nationwide broadband network. Ehere will they get the money? They said, from a combination of internally generated fund (our abuloy) and BANK LOANS.

Truly, Angel, Marc, Yuson, Farley, Pineda, Menorca, and ROVIC CANONO (A.K.A. “SHER LOCK”) ARE INDEED HYPOCRITES!!!