12 Apr PT&T targets to connect 7M homes, businesses in next two years
LISTED diversified telecommunications company Philippine Telegraph and Telephone Corp. (PT&T) announced on Monday that it plans to further expand its coverage in the adjacent regions of the National Capital Region (NCR) through its partnership with a US investment firm.
The company said it is working with US-based Continental Advisory Services (CAS), LLC and Urban Logistic Advisory Services (ULAS), Inc., to “upgrade its network infrastructure and expand coverage in its high growth yet still underserved service areas” in the neighboring regions of the NCR.
“This important step will expand PT&T’s footprint 10x over in the next 2 years, translating to 7 million homes and businesses passed,” it said in a disclosure to the stock exchange.
Under the partnership, the company’s US-based partner, CAS/ULAS, will share technical expertise in the areas of integrated engineering and outsourced logistics services.
PT&T is hoping to “rebound” as a “major” telecommunications and information and communications technology player in the country.
James G. Velasquez, the company’s president and chief executive officer, said: “Partnering with CAS/ULAS comes at a crucial time as PT&T seeks to sustain its growth momentum, having experienced a streak of nonstop growth quarter by quarter from 2017 and through the pandemic.”
“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,” he added.
PT&T’s net loss after tax widened to P40.53 million in the first nine months of 2021 from a loss of P30.43 million in the same period in 2020.
It recently partnered with Kacific Broadband Satellites Ltd., a Singapore-based next-generation broadband satellite operator, to “offer high-speed satellite internet at a more economical cost.” — Arjay L. Balinbin
News Source: Business World