DAILY TRIBUNE obtained corporate documents from the Securities and Exchange Commission (SEC) showing that QM Builders, a Cebu-based contractor now known for cornering billions in public works projects, began with modest capital. Its General Information Sheet reveals the company was incorporated in 2015 in Dumanjug, Cebu, with a paid-up capital of only P1.25 million and a subscribed capital of P5 million. The authorized capital stock listed in its Certificate of Incorporation is P20 million. All five company directors are members of the Quirante family, with Allan Quirante as president and Zosima Quirante as treasurer.

Despite its small declared capitalization, QM Builders has since risen to become one of the country’s biggest contractors. Between July 2022 and May 2025, Department of Public Works and Highways (DPWH) records show the company was awarded 96 contracts worth P7.3 billion, mostly for flood control projects in Cebu. In fact, QM Builders now ranks fourth among the top 15 contractors nationwide that cornered one in five flood control projects.

This sharp contrast between the firm’s original capitalization and the billion-peso contracts it managed to secure has fueled questions from lawmakers and critics. Senator Rodante Marcoleta, in a recent Senate hearing, accused Quirante of evading questions over alleged irregularities in QM’s financial capacity and contract handling. Local politicians, however, continue to defend the company, citing its contributions to jobs and infrastructure in Dumanjug and neighboring towns.