Group lauds LTFRB for streamlining TNVS applicants
MANILA, Philippines–A transport organization is eyeing the filing of criminal charges against a foreign firm that tried to join the country’s transportation business despite its ownership is marred by various issues including possible violations of the Anti-Dummy Law and perjury.
This development came after the Land Transportation Franchising and Regulatory Board (LTFRB) ordered to hold the application of Velox Technology Philippines Incorporated, which tried to apply for Transport Network Company franchise.
The transport group United Transport Koalisyon (1-Utak) lauded the action of the LTFRB and expressed intention to charge Velox for allegedly using dummy investors for its Transport Network Vehicle Services.
In stopping the Velox application, the LTFRB said the government, first and foremost, must be sure to uphold the Philippine sovereignty against suspicious companies applying for business in the country.
Velox is a Singaporean Firm with 60 percent shares owned by Velox South-East Asia Holdings, Pte., Ltd.
1-Utak Rep. lawyer Vigor Mendoza said they will review if there is any criminal liability on part of the Velox such as Anti-Dummy Law, tax evasion, perjury and falsification of public documents.
Article continues after this advertisementThe Philippines’ Anti-Dummy Law, the group said, prohibits foreigners from intervening in the management, operation, administration, or control of any nationalized activity.
Article continues after this advertisementThe group added that Filipinos who will be found in cahoots with foreign firms in the Anti-Dummy Law also face violation of this law, by committing a criminal act punishable by five- to 15-year imprisonment.
This was after the group received information that the company is allegedly using Filipino dummy partners to comply for the requirements of the Constitution.
“Hindi pa nagsisimula binabastos na ang ating saligang batas. Kahit mayaman sila wala silang karapatan tapak tapakan ang ating batas,” Mendoza said.
Mendoza reiterated 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. /jpv
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