With the recent unverified matrix provided by Presidential Spokesperson Harry Roque, netizens have started to the said matrix to attack ABS-CBN.
Here are some of the reactions from the netizens who are using the matrix on social media:
ABS-CBN should do their part, para di unfair sa ibang network na nag babayad ng tamang buwis https://t.co/NXoGre5GiQ
— Laurice Laude (@LaudeLaurice) February 16, 2021
Franchise renewal pa rin? Na-address na ba yung violations nila? https://t.co/VuX7YReqOP
— Darla Manese (@DarlaManese) February 16, 2021
ABS-CBN should do their part rin, naman di unfair sa ibang network na lumalaban ng patas. https://t.co/SEtJzlc3CS
— Minah Luisa (@MinahLuisa) February 16, 2021
https://twitter.com/MaraAnd25003323/status/1361497335503626241
Let's not turn blind-eye on this issue. If they want franchise renewal, settle your accountability once and for all. https://t.co/1O4ozS19sK
— Jaylah Garci (@GarciJaylah) February 16, 2021
But breaking down the matrix and the issue further, there are some gaps. Here is the information we need to know:
The matrix alleged that the Lopez Companies still has remaining debts to the Development Bank of the Phillippines. The alleged remaining debt amounts to 999 million pesos from a loan with the DBP.
They seem to imply that the Lopez Companies has direct involvement with DBP’s decision to sell the loans.
However, according to reports, DBP disposed of the 1.667 billion peso Lopez Company loan to Lehman Brothers, an asset management company, between P668 million to 1.069 billion pesos. Then, the Lopez companies paid the loan to Lehman Brothers for 1.25 billion pesos to 1.417 billion pesos.
The government used this argument as grounds for graft, questioning the Lopez companies why they did not pay the loans when they weren’t bankrupt.
However, it is notable that the matrix lacks sources to legitimize the claims. Additionally, DBP confirmed there were no irregularities with the loan disposal in line with the Republic Act No. 9812 or the Special Purpose Vehicle Act of 2002.
The bill allows banks to unload nonperforming assets to an asset management company to help them recover during the financial crisis.
To summarize the issue, Lopez Companies has no direct involvement since they are not a financial institution. Additionally, DBP sold the bad loans to Lehman Brothers following an existing bill.
Additionally, other netizens also criticized the said matrix and its sources or lack thereof.
May matrix na naman. Walang source. Not legitimate.
For everyone's info: The Lopez Group CANNOT apply directly to the SPV because it's NOT a financial institution. Only DBP, in this case, can sell bad loans to SPV and DBP already said everything was regularly conducted. https://t.co/xgYo9lMXuH
— Prinz Magtulis (@prinzmagtulis) February 15, 2021
Source? https://t.co/SgtRAizNJ6
— nick (@nickvillavecer) February 15, 2021
.@attyharryroque would certainly fail financial accounting and reporting classes https://t.co/IeFirtsB8q
— John Laurence Domingo ³⁰ (@jlaurence) February 15, 2021
Historically, the government has released multiple matrices before, with most of them having incorrect information in them. However, internet trolls have continued to use these to attack institutions that the government does not favor.