Globe sets aside USD450m for 2008 CAPEX

Filipino operator Globe Telecom plans to spend USD450 million on its networks and services in 2008, of which some USD180 million is being allocated for broadband. Globe President and CEO Gerardo C Ablaza said USD130 million of its planned capital expenditure would be set aside for capacity enhancements to its 2G networks, USD100 million for transmission services and the remainder for IT-related initiatives. He also reiterated the company’s commitment to 3G which he considers ‘ the future technology,’ adding ‘We are not slowing down on our 3G investments. We have so far put in USD120-150 million in 3G but our focus is not just mobile service but for the use of 3G in wireless broadband.’ Revenues from high speed internet access services topped the PHP1 billion (USD23.98 million) mark in 2007, up 133% year-on-year, boosting Globe’s broadband base to 120,000 by the year end.