Huang finally admits Pharmally had no funds when it bagged P8.5B contracts from DBM’s Lao: We’re fortunate enough Michael Yang to lend us money
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Huang finally admits Pharmally had no funds when it bagged P8.5B contracts from DBM’s Lao: We’re fortunate enough Michael Yang to lend us money

Pharmally Pharmaceutical president Huang Tzu Yen admitted to senators that his company had no financial capacity when it was granted P8.5 billion worth of medical supply contracts by then Budget Undersecretary, Christopher Lloyd Lao, in 2020.

In a Senate hearing, Huang said via a virtual hearing that his company got borrowed money from President Rodrigo Duterte’s special business consultant Michael Yang.

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Huang said this was the reason why he and Pharmally director, Lincoln Ong, were hesitant to reveal the true extent of Yang’s transactions with Pharmally.

Ong had claimed Pharmally, which had only P625,000 paid-up capital, got “corporate funds” to pay its suppliers (Pharmally is a mere broker and not a manufacturer).

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“It’s just a courtesy, we really needed help, and he (Yang) offered to help. This is what caused him to be evasive,” said Huang.

Yang, who was in the same hearing, claimed that he only introduced Pharmally to the President in 2017 and that he has had no contact with the company after, including how it bagged the contracts from then Budget Undersecretary Christopher Lloyd Lao.

Following Huang’s admission, Senator Franklin Drilon said Pharmally “won the contract without a single peso, and afterward had to go to Michael Yang.”

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“I don’t think Mister Yang is a philanthropist that he would give Pharmally a lot of money,” said Drilon.

Huang was apologetic for being initially evasive to the senators’ questions.

“We realized we have caused a huge ruckus, we don’t want people to think we are a dummy of Michael Yang,” said Huang who stressed that his firm was “autonomous” from his father’s Pharmall Taiwan.

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