11 Apr PT&T partners with US investment firm CAS/ULAS
In the photo, L to R: CAS Founding and Managing Member and ULAS CEO Jacob Yahiayan and PT&T President and CEO James Velasquez
Diversified telecommunications firm PT&T is pleased to announce its strategic partnership with US-based Continental Advisory Services (“CAS”), LLC and Urban Logistic Advisory Services (“ULAS”), Inc.
This move sets the stage for PT&T to upgrade its network infrastructure and expand coverage in its high growth yet still underserved service areas in adjacent regions of NCR, as well as extend its reach to key cities around the country.
This important step will expand PT&T’s footprint 10x over in the next 2 years, translating to 7 million homes and businesses passed, providing more competitive Internet and IT services in an area where close to 40% of the population is based.
This development signals PT&T’s renewed confidence and vigor to rebound as a major telecom and ICT player in the Philippines.
As a strategic partner, CAS/ULAS will also share technical expertise to PT&T in the areas of integrated engineering and outsourced logistics services (3PL), given the extensive network of leading US-based technology accelerators in its fold.
“Partnering with CAS/ULAS comes at a crucial time as PT&T seeks to sustain its growth momentum, having experienced a streak of non-stop growth quarter by quarter from 2017 and through the pandemic.” PT&T President and CEO James Velasquez said.
He adds, “We are confident this development will place PT&T on a stronger track towards our goal of becoming the partner of choice for broadband connectivity and cutting-edge digital transformation solutions in the markets we serve.”
The disclosure may constitute forward-looking statements and facts. Such statements are based on current expectations of future events, estimates, and certain assumptions of our management. These are therefore subject to certain risk factors and uncertainties, some of which are beyond our control, and which could cause the actual results, financial situation, or performance to differ materially from the estimates or developments that are implied in these forward-looking statements. We do not assume any obligation to update these forward-looking statements to reflect actual results, changes in assumptions, or changes in other factors affecting such statements.
CAS is an accredited investment firm that provides unbiased financial expertise to institutions, corporations, partnerships, governments, and accredited investors. ULAS is a New York State C-corporation investment vehicle and associate company to CAS, a family office. ULAS and CAS were incorporated in NYS in 2016 and 2002, respectively. The purpose of ULAS is to pool non-overlapping, yet complementary integrated engineering/3PL offerings. The ULAS strategy allows a value chain strategy (import/export) and an opportunity to right-size the combined balance sheets and improve WACC.
Incorporated in 1962, PT&T is a diversified telecommunications and information technology services provider. The Company caters to corporate, small/medium business, and residential segments across the Philippines. PT&T continues to specialize in adapting its services to the needs of enterprise and institutional end users. At present, PT&T’s business activities are categorized into two major businesses: Connectivity and IT Services.
Currently, PT&T has a network reach of 22,800 fiber kilometers in high-growth areas, covering almost 40% of the total Philippine population. The Company holds a 25-year National Legislative Franchise which allows them to establish, maintain, and operate both wired and wireless telecommunications systems for domestic and international communication. PT&T is a publicly listed company in the Philippine Stock Exchange.
Go to https://www.ptt.com.ph for more information.
For more information, please contact:
Meg Wahnon, Media Analyst at [email protected]
PT&T’s Investor Relations at [email protected]