Philippine Communications Satellite Corporation

Philippine Communications Satellite Corporation
Industry Telecommunications
Headquarters Makati, Metro Manila, Philippines
Key people
 Bayani Agabin
(Chairman)
Katrina Ponce Enrile
(President)
Services Satellite service provider
Parent Philippine Overseas Telecommunications Corporation
Subsidiaries Philcomsat Holdings Corp.
Website www.philcomsat.com.ph

Philippine Communications Satellite Corporation (PHILCOMSAT) is a telecommunications company based in Makati, Metro Manila, Philippines. [1]

History

PHILCOMSAT was formed as a joint venture between the government of the Philippines under the administration of then President Ferdinand Marcos and the Philippine Overseas Telecommunications Corporation (POTC), a firm established by Marcos' associates in 1966 led by then Defense secretary Juan Ponce Enrile.[2] The company is designated by the government to represent the country in the intergovernmental consortium satellite service provider, Intelsat.[3]

In May 2, 1968, the company formally opened a permanent earth station in Tanay, Rizal in a inauguration ceremony attended by President Ferdinand Marcos. This linked the country to a worldwide communications satellite network.[4]In June 21, 1969, the company was given a franchise through Republic Act No. 5514 to operate ground stations and other facilities for international satellite communications. It was also granted tax exemptions under the same law.[5] This exemption was terminated by Presidential Decree No. 34[3], which amended the Tariff and Customs Code[3] which was enacted on October 27, 1972.[6] This exemptions were granted again on August 31, 1976 through Presidential Decree No. 990.[3]

The government sold its stakes to a private holding firm owned by Roberto S. Benedicto, an associate of Marcos in 1982.[7]

Within the administration of Marcos, PHILCOMSAT became the major supplier of international circuits for other telecommunication firms in the country such as the Philippine Long Distance Telephone Company (PLDT). After the People Power Revolution of 1986 which saw Marcos deposed and Corazon Aquino installed as president, it was discovered that Marcos-linked firms had 40 percent stake of PHILCOMSAT in 1982.[2]It was reported that auditors of the Presidential Commission on Good Government that PHILCOMSAT along with three other telecommunications companies were used to get government funds out of the country.[7]

References

  1. ↑ "Contact Us". Philippine Communications Satellite Corp. Retrieved 14 December 2017.
  2. 1 2 Esfahani, Hadi Salehi (1994). Regulations, Institutions, and Economic Performance: The Political Economy of the Philippines' Telecommunications Sector. World Bank Publications. p. 24. Retrieved 14 December 2017.
  3. 1 2 3 4 "Presidential Decree No. 990, s. 1976". Official Gazette of the Republic of the Philippines. 31 August 1976. Retrieved 14 December 2017.
  4. ↑ "May 3, 1968 Marcos opens satellite station". Manila Times. 3 May 2011. Retrieved 14 December 2017.
  5. ↑ "Republic No. 5514". The LawPhil Project. 21 June 1969. Retrieved 14 December 2017.
  6. ↑ "Presidential Decree No. 34, s. 1972". Official Gazette of the Republic of the Philippines. 27 October 1972. Retrieved 14 December 2017.
  7. 1 2 Scott, Ann (17 March 1986). "U.S. auditors to examine documents related to Philippines' alleged diverted funds". United Press International. Retrieved 14 December 2017.
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