"Suspended" Philippine Telegraph and Telephone Corporation

...sorry na lang, na-disqualify kasi kayo eh  Tongue  tsaka magpalift muna kayo ng suspension nyo sa PSE para ma-trade namin kayo 'no Big Grin

PT&T eyes other digital initiatives despite setback from 3rd telco bid

PHILIPPINE Telegraph and Telephone Corp. (PT&T) plans to venture into various digital initiatives, including the possibility of providing 5G services to customers, even after its failed bid to secure the third telco license in the country.

James G. Velasquez, the company’s president, said his group will “move forward” with plans to transform into a digital company, as demand from an “increasingly digital Philippines” continues to increase.

He said the group plans to “foray into cyber security, smart cities and Internet of Things in the foreseeable future,” adding that the company will be “ready when mobile for 5G comes to the country.”

With a paid-up capital of P10.9 billion, and increased authorized capital of P15.6 billion to make way for future growth plans, the company, Velasquez said, “intends to raise funds that will allow us to compete in the fixed and wireless broadband space, and beyond.”

PT&T is celebrating its 56th anniversary this week and, fresh from the company’s disqualification from the third telco race, the group will continue its growth strategy by expanding its fiber footprint across the country, according to its president.

“Our heritage and technical capability speaks for itself. PT&T is a pillar in the history of the Philippine telecommunications industry,” Velasquez said.

So far, the new management of the company—acquired by Menlo Capital Corp.—has spent about P100 million for the expansion of its network, which currently serves regional areas in Luzon.

“Focus on fixed broadband has yielded positive results and hiring growth. We are going to further expand in both enterprise and SME [small and medium enterprise] and the residential space. We have won several e-services project partnering with the government and will also expand this to cover enterprise and SMEs requirements. We will be ready when mobile for 5G becomes available,” Velasquez said.

For the fiscal year ending June 2018, the company saw its bottom line swinging to a gain to P24.72 million, from a P26.91-million loss a year prior.

It initially vied for the third telco license, but was disqualified after failing to include a certificate of technical capability in its bid. A spokesman has since said that the company is studying all legal means to remedy this, and possibly outbid Mislatel Consortium, which is led by Udenna Corp. and China Telecom Corp. Ltd.

source: https://businessmirror.com.ph/ptt-eyes-o...telco-bid/
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