15 Dec 2010
Filipino heavyweight Philippine Long Distance Telephone Company (PLDT) is upping its capital expenditure budget for 2011 to fund the expansion of its fixed and mobile networks, reports the Manila Standard Today. PLDT chairman Manuel Pangilinan told reporters that his company’s CAPEX could amount to more than PHP30 billion (USD686.8 million) in the coming financial year, up from PHP28.6 billion in fiscal 2010. The company plans to invest more in broadband and expand its landline services. ‘The initial budget is over PHP29 billion but we might increase it. Most likely, it will exceed PHP30 billion, Pangilinan is quoted as saying. The telco is seeing sustained popularity for both fixed and wireless broadband services, despite strong sector competition and slowing subscriber take-up. Going forward, PLDT intends to focus less on adding more subscribers, with a renewed focus on improving service quality and product offerings. ‘We are keen on really improving our network for coverage, quality and robustness,’ he said.