The QM Builders denied the allegations related to flood control projects on Tuesday, during the Senate Blue Ribbon Committee investigation, stating that there may be confusion between its hardware and construction businesses.
The owner of QM Builders, Allan B. Quirante, expressed confusion regarding the source of the information when the committee presented figures pertaining to the financial statements of QM Builders Inc. from 2015 to 2024.
Senator Sherwin “Win” Gatchalian cited data from the Securities and Exchange Commission (SEC), showing that QM Builders Inc. held contracts amounting to P7.2 billion, despite having a capitalization of only P1.2 billion, and reporting no income from 2015 to 2024. Quirante immediately denied it, saying it’s not true.
“Mr. Chair, siguro yung nakuha niyo is yung sa hardware namin, hindi sa construction,” Quirante explained, noting that his two businesses share the same name: QM Builders Construction Supply and QM Builders Construction.
When asked to present the Audited Financial Statement (AFS), Quirante quickly responded, “Dalang-dala ko ngayon”.
Gatchalian then requested the owner of QM Builders to submit all documents related to the two companies he mentioned.
Quirante further clarified that the hardware business was established in 1992, while the construction company was only formed in 2024.
However, Senator Rodante Marcoleta, Chairman of the Blue Ribbon Committee, questioned how QM Builders managed to acquire a Quadruple-A license despite not yet working on any flood control projects.
Quirante explained that it was QM Builders, the sole proprietorship, not QM Builders Incorporated, that is being used for Department of Public Works and Highways (DPWH) projects.
Therefore, QM Builders Inc. has not yet been activated or used. All current projects are handled under the sole proprietorship, and the data from the SEC refers to their new company, QM Builders Incorporated, which has not yet been used to participate in bidding for government projects.
