The company group of former senator Manuel “Manny” Villar Jr. is now venturing into the telecommunications business, aiming to get into dominants such as PLDT Group and Innove, the one who holds Globe Telecom and its subsidiaries.
Villar’s Streamtech Systems Technologies has applied for a franchise that gives them permission “to construct, install, establish, operate and maintain telecommunications systems throughout the Philippines.”
Its application is now pending with the House of Representatives committee on legislative franchises.
The application is contained in the House Bill 3118, introduced by Romblon Rep. Emmanuel Madrona, whose brother, former congressman-governor Eleandro Jesus Madrona, belongs to Villar’s Nacionalista Party.
Members of the committee are questioning the sufficiency of the Php30 million paid-up capital that was presented to them. However, the company assured that their firm would put in additional when the need arises.
As reported by The Philippine STAR, Villar’s eldest son, Manuel Paolo A. Villar, is the principal shareholder of Streamtech. When approved, the company will join the list of several telecommunications companies that’ll operate together with big players, Globe and PLDT.
In filing Bill 3118, Rep. Madrona said the present clamor among current and prospective customers of telecommunications companies (telcos) is for “efficient, dependable and affordable” service.
“Streamtech seeks to do its share to improve the telecommunications industry’s capacity to promote the common good and serve the general public,” he said.
He added that aside from other telecom services, the Villar firm would “establish an international gateway facility, provide broadband service and set up public data networks.”
Two weeks ago, the House approved on third and final reading a bill renewing the franchise of Smart for another 25 years.
Congress has given franchises to several other telecommunications companies, which have yet to install the facilities they have committed to build.
Let’s just wait and see if this group will offer the services that might cater our extra-terrestrial telecommunication needs.