Monday, June 29, 2009

Comelec Suspends Signing of P11.2B Poll Automation Contract — Corporate Papers of Joint Venture of Smartmatic & TIM Not Yet Submitted to Comelec

29 June 2009

The signing of the P11.2 Billion poll automation contract between the Comelec and the Smartmatic-TIM joint venture has been suspended.  The reason?  The corporate papers of the joint venture between Smartmatic Corp. and Total Information Mgt. Inc. (TIM) have not yet been submitted to the Comelec.  This was disclosed by Comelec Chairman Jose Melo today.

More on this story in this flash report by Lala Roque courtesy of GMANews.tv:

Smartmatic was reportedly given until Friday to submit the joint venture's incorporation documents otherwise they risk losing the poll automation contract. 

By way of review, here is another flash report by Lala Roque, dated June 10, 2009, wherein the Comelec formally announced the award to Smartmatic Tim of the winning bid for the 2010 poll automation contract.  Comelec Chairman Jose Melo, Jr. is even shown congratulating the officials of the joint venture:

The Smartmatic - TIM joint venture is expected to put up a paid-up capital of P1.2B to give it a reasonable chance of successfully completing the massive and unprecedented poll automation project.

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