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Singson vows to come up with P700-M participation security

GMA News Online logo GMA News Online 11/8/2018 Sollorano, Vic
a man wearing glasses: Former Ilocos Sur Gov. Luis Chavit Singson (left), who owns LCS Group of Companies, along with partner Jonathan Bentley-Stevens, shows the bidding documents of the National Telecommunications Commissions Inc. his company purchased on Monday, October 8, 2018. The LCS will try its luck to be the country's third telecommunications player. GMA News © GMA News Former Ilocos Sur Gov. Luis Chavit Singson (left), who owns LCS Group of Companies, along with partner Jonathan Bentley-Stevens, shows the bidding documents of the National Telecommunications Commissions Inc. his company purchased on Monday, October 8, 2018. The LCS will try its luck to be the country's third telecommunications player. GMA News

Businessman Luis Chavit Singson on Thursday said his group would come up with the requirements which they supposedly missed in bidding for the country’s third telecommunications player.

The former Ilocos Sur governor’s Sear Telecom was disqualified by the National Telecommunications Commission (NTC) when its bid documents were opened at the NTC headquarters in Quezon City on Wednesday

“... ‘Yung kulang na hindi namin maibigay... maibibigay namin kaagad. Bigyan kami ng three days, we can produce that right away,” Singson in a phone interview on Super Radyo dzBB.

Under the system of highest committed level of service (HCLOS) approved by the government, companies aspiring for the third telco slot are required to post P700-million “Participation Security.”

The HCLOS model primarily involves a point system based on committed speed, coverage, and capital and operational expenditures.

Sear Telecom is the consortium between TierOne Communications International and Singson-led LCS Group of Companies. —Anna Felicia Bajo/VDS, GMA News

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