PLDT demands P429.7-M payment from DITO




The Manila Times

Corporate News

LDT Inc. on Friday said it had served a notice of material breach and demand for payment, worth P429.7 million, on DITO Telecommunity. In a disclosure to the Philippine Stock Exchange, PLDT said that DITO refused to pay the amount for contracted services. “PLDT has fully performed and delivered, relating to the building and provisioning of transmission facilities that DITO required and is using for the delivery of telecommunication services to subscribers.” Globe, likewise, asked the National Telecommunications Commission to order DITO to pay the amount due to it associated with international calls masked as local calls, passing through DITO’s network. Smart made the same complaint against the third telco player for allegedly failing to stop fraudulent calls. DITO claimed the opposite and filed a complaint against PLDT and Globe Telecom over “abuse of dominant position,” and claimed that its subscribers had difficulties calling Globe and Smart numbers. DITO, which is part of Dennis Uy’s Udenna Group, is reported to be on the lookout for an equity partner given the current liquidity problems being experienced by its parent company. Absolut Distillers earlier served a writ of garnishment on Phoenix Petroleum for P157 million worth of unpaid bioethanol deliveries. Shell Exploration BV was sold by Udenna to Prime Infra of Enrique Razon in a bid to shore up its cash position. The sale was approved by the Department of Energy after a thorough review. DITO now has until Nov. 4, 2022 to remedy the breach and pay the P429.7 million owed PLDT otherwise the latter can pursue other legal remedies under the law to protect its interests, including, but not limited to, the suspension of the interconnection agreement.