PLDT Global sees 2-digit growth in income, revenues
HONG KONG – A wholly-owned subsidiary of dominant carrier Philippine Long Distance Telephone Co. (PLDT) expects to sustain a double-digit growth in both earnings and revenues as it targets to reach more Filipinos living and working abroad.
Alex Caeg, president and chief executive officer of PLDT Global Corp., said in an interview with reporters during the celebration of the company’s eighth year anniversary in Hong Kong that the company hopes to sustain the double-digit growth booked over the past four years.
“We expect to sustain the double-digit growth both in revenues and income for the last four years,” Caeg stressed.
He pointed out that the company is looking at widening its overseas operations over the next 12 months to 18 months with a series of discussions for possible partnerships with foreign telecommunications providers particularly in Europe, North America, Middle East, Japan, among others.
The PLDT arm provides services to overseas Filipinos through mobile virtual network operator (MVNO) partnerships with foreign telco providers.
According to him, the company has over 250,000 subscribers all over the world.
He pointed out that PLDT Global is targeting countries that are primary destination of Filipinos working and living abroad such as Canada in North America, Italy in Europe, Middle East, Japan, and even Africa.
“We have barely scratched the market for overseas Filipinos,” Caeg stressed.
He explained that the company is looking at re-entering the European market which it abandoned two to three years ago.
He said there are about 300,000 Filipinos in Italy alone but the company was forced to abandon due to realities faced then by the company that made its operations not viable.
Caeg said the company is looking at Spain, Greece, and Portugal apart from Italy.
Aside from Europe, the official said the company is also conducting studies in markets such as the Middle East and Japan.
“One thing is for sure, we have been conducting on-the-ground market researches. We have to understand Filipino needs and behavior for every country as well as the adoption of data services,” he explained.
According to him, PLDT Global is set to offer online payment offerings to overseas Filipino workers beyond mere remittances to other transactions like bill payments for utilities and medical needs in the Philippines.
“Very soon, aside from the voice and text, and data, we will be expanding mobile e-commerce services. It will go to, say, bill payments to include top utility companies in Manila,” he added.