It has been observed that many CAMTECO members are no longer interested to participate in the coop activities – attending meetings or none participation in the deliberation of issues raised by some concerned members. All members should be concerned because the monitary value of your membership is worth over P100,000!
Here’s a background why?
October 1992 at the Manila Garden Hotel (now Nikko Hotel) when GTZ awarded the turnkey contract to Alcatel. After the meeting comes the socials, of course with some rounds of beer. I asked Heinz Pomplun – “Now that we know the contract price, how much is the total project cost?”. “About P50-million.” – his short reply. I was not impressed at first.
When he added “… but this not the final cost. The cost of cabling is not included. A field survey has to be made to get the actual requirements of the cables, telephone sets, telephone poles, etc. for the first 400 subscribers.”. When I divide P50,000,000 into 400 subscribers – it’s P125,000!!! What??? It blew my mind! Every member is given an investment worth P125,000 with only P4,000 counterpart!
“What if some crafty members figure out that there’s so much investment at their disposal and they propose to sell CAMTECO at a profit? Let’s say P200,000 each?”. Heinz relayed this to Juergen Marx. As a result – “We’ll include this prohibition in the Charter Agreement.” per Mr. Marx.
During the first financial study, after 1 year of operation, Dr. Klaus Pertz, concluded: “CAMTECO has the same earning capacity than PLDT. It has even higher net income-to-employee ratio than PLDT.”. Since then Heinz Pomplun always remark “CAMTECO is a money-making machine but … it has to be run smoothly like PLDT. Every member must realize this – as if he’s holding P129,000 worth of PLDT shares!”.
Now think of these opportunities CAMTECO could have ventured starting in late 90’s:
- Establishing a GSM mobile network in Camiguin to serve applications instead of using cables.
- Started email service for additional monthly fee using dial-up connections.
What would be the income out of this GSM network?
- Local calls
- Mobile calls
- Text roaming with the big mobile phone carriers
With these existing assets
- Alcatel S12 digital exchange
- The network of towers that covers almost the entire province (Mambajao, Mantigue, Catarman, Lawigan and Bug-ong),
the big mobile carriers could be convinced to inter-connect rather than invest. It’s economically sound for CAMTECO and the mobile carriers. Camteco could easily sell the network to Smart or Globe if there was no prohibition in the Project Agreement.
Bottom line. What would be the dividends out from these revenues? If it’s encouraging than bank portfolios, I would imagine investments from members, retirees and OFWs would flood to the cooperative!