PLDT will raise the capex to P83 billion in 2020

Last updated on May 6th, 2021 at 10:49 am

Pangilinan-led PLDT Inc. is set to increase its capital expenditure plan by 13,85 per cent this year, primarily to support its data sector and information technology (IT) ventures.

Advertising According to PLDT president and chief executive officer Manuel Pangilinan, the firm will invest P83 billion this year, up from P72.9 billion in 2019.

This sustained degree of investment in the country’s telecommunications infrastructure has now reached P257.7 billion over the last five years. But to further improve our service quality levels and achieve unparalleled customer experience (CX), PLDT has approved a greater capex budget of P83.0 billion for 2020.

According to Pangilinan, this amount will be used mainly to enhance the increasing use of data to support customer experience.

Of this number, PLDT will spend P64.6 billion on network and IT projects, mainly to support data traffic. P18.5 billion will also be invested on broadband installations.

In a briefing in Makati City, the company reported a core net income of P7.7 billion in the fourth quarter, up 56% or P2.8 billion.

This raised the company’s registered sales by P22.5 billion, up 19 percent or P3.6 billion from the previous year.

Despite continuing challenges, 2019 was a fruitful year, with sales hitting record levels behind the robust growth of our wireless customer sector. This was done in large part by making the necessary investments in our data and IT networks.

Desk Writer

Spends most of the time reading news all around the world. Strong knowledge and understanding of the current situation and happenings in the ASEAN region.

Recent Posts

China and UAE Celebrate 40 Years of Diplomatic Relations: All the Sectors for Partnership

Celebrating 40 years of diplomatic ties, China and the United Arab Emirates (UAE) are poised to fortify an alliance that…

November 2, 2024

What’s in Store for Squid Game Season 2: New Twists, International Adaptations, and a Bold Return to the Games

Fans of the worldwide sensation Squid Game have much to look forward to this December as the show's producer, Hwang…

November 2, 2024

TWICE Joins Coldplay’s ‘Music of the Spheres’ Tour for a Seoul Spectacle in 2025

Especially when it's the internationally known British rock band Coldplay linking up with K-pop phenomenon TWICE, few events match the…

November 2, 2024

China Caught in the Crossfire: Tensions Rise as North Korea and Russia Strengthen Alliance

Tucked on a 12-story structure in northeast China, visitors flock to get a rare view of the junction of their…

November 2, 2024

Could Westeros Dragons Soon Soar into the Big Screen? ‘Game of Thrones’ Film Reportedly in Early Development

HBO's Game of Thrones has created a void in the fantasy world of television that no other show has quite…

November 1, 2024

Preparing for U.S. Election Impact: Sen. Imee Marcos Urges Self-Reliant Defense Amid Uncertain Times

Head of the Senate Committee on Foreign Relations, Senator Imee Marcos underlined the need of the Philippines getting ready for…

November 1, 2024

This website uses cookies.

Read More