From Malaya:
$4.3M of $25.3M left to answer for poll automation failure
The Commission on Elections has allowed Smartmatic, the holder of the P11.3 billion election automation contract, to reduce its bank credit line from $25.3 million to $21 million, leaving only $4.3 million to answer for any failure of the contractor to successfully carry out the project.
Comelec’s accommodation was among recent developments that have raised fears that automated elections would end up a failure.
First, Smartmatic has lost its original partner, the local company Total Information Management Corp., in the consortium. Second, it has lost the Aboitiz-owned logistics company 2Go as distributor of the precinct count optical scan (PCOS) machines to 70,000 precincts nationwide.
The decision to “remove, cancel or extinguish the credit line” given by the Hong Kong Shanghai Banking Corp. Manila was reached by Comelec in a meeting on January 20.



