SMC telecom arm still pursuing mobile business

Posted at 05/29/2014 6:13 PM | Updated as of 05/29/2014 6:13 PM

MANILA, Philippines – The telecommunications unit of San Miguel Corp. (SMC), Liberty Telecoms Holdings Inc., continues to pursue plans to venture into the mobile business, SMC president and chief operating officer Ramon Ang said.

Ang, who is also chairman of Liberty Telecoms, said the expansion to mobile entails providing voice call, short messaging system (SMS), and mobile broadband services.

However, Ang did not divulge details of the planned expansion.

“Liberty needs a bigger plan for us to make this successful and viable. We will come up with a business plan that will be able to serve the public better,” he said.

Ang said that amid the planned diversification, Liberty Telecoms “will not make money in the next year or so.”

He said the country’s telecommunications industry remains attractive with higher earnings and return on investments.

In 2005, Liberty Telecoms suspended its operations due to lack of capital required to operate, and was subsequently placed under corporate rehabilitation and debt restructuring.
 
The rehabilitation plan was approved by the court in 2006.
 
The firm is expected to get out of rehabilitation in 2016, Ang said.
 
Liberty Telecoms, a joint venture between SMC and Qatar Telecom, owns Wi-Tribe Telecoms Inc. and Skyphone Logistics Inc.