Pharmally's financial papers lost 'unintentionally', says Huang

Pharmally Pharmaceutical Corporation chairman Huang Tzu Yen on Friday said he believes that the boxes of documents related to the firm’s financial statements were lost unintentionally.

During the continuation of the Senate investigation into the government’s alleged anomalous purchases of COVID-19 supplies, Senate blue ribbon chairman Richard Gordon asked Huang if he was “perturbed” by the fact that the documents were missing.

”I know it is no excuse, as a company, it is no excuse to not have these things properly documented and filed and on hand and ready but it is not intentional. I don’t think it is intentional,” Huang told Gordon.

Last week, Huang’s business partners, Pharmally director Linconn Ong and firm’s treasurer and corporate secretary Mohit Dargani, were ordered detained at the Pasay City jail after they failed to provide the committee the whereabouts of the boxes containing the documents related to the firm’s financial statements.

The Senate blue ribbon is specifically looking for the cost of goods sold to Pharmally to find out if there are ghost deliveries.

“I do not have, most of the copies of the cost of goods sold, cause I’m overseas, and I wasn’t hands on with this and I apologize for that. But I think for many of the deliveries we make, I think I did request for these pictures, some photos of deliveries,” said Huang, who is currently in Singapore.

“Maybe I could have those and I would compile those but in terms of document wise. I will try, but I really do not have a lot of those, I apologize,” he added.

The Senate panel conducted its 16th day of investigation into the transfer of P42 billion COVID-19 funds from the Department of Health to the Procurement Service of the Department of Budget and Management (PS-DBM).

This includes PS-DBM’s purchase of P8.6 billion worth of face masks, face shields, and PPEs from Pharmally Pharmaceutical Corporation, a firm that only had a P625,000 paid-up capital when it entered transactions with the government. -NB, GMA News