PLDT Points to Duterte’s Tirades, ‘Intense Competition’ in Budget Fiasco (Rappler)

In the press release [PDF FILE], PLDT president and chief executive officer Al Panlilio was quoted as saying that the overspending was made due to a confluence of factors, including:

• PLDT having to regain network leadership following years of underinvestment in capital expenditures
• The threat from Duterte for telcos to shape up or face closure
• Intense competition in the telco sector with the then-anticipated entry of Dennis Uy’s Dito Telecommunity funded by China Telecom
• The emergence of a competitor in the fiber space, Converge READ MORE

Similar Posts:

• Heads to Roll at PLDT, Says ‘Disappointed’ MVP (Inquirer)
• A Damaged Culture No More? Investing in the Philippines
• The Philippines: More Two Steps Forward And One Step Back?
• Emerging Market Companies & Governments Binge on US Dollar Debt (WSJ)
• Duterte Spooks Foreign Investors With Tax ‘Sword of Damocles’ (Nikkei Asian Review)
• As US-China Relations Worsen, Expect Supply Chain Chaos (Freight Waves)
• Ayala: Duterte’s China Pivot Transforms Philippines’ Oldest Conglomerate (Nikkei Asian Review)
• Emperador Lists in Singapore to Pursue Global Growth (The Asset)
• Philippines Globe Telecom to Raise Funds, Expand (The Asset)
• Why Did Monde Nissin Corporation Decide to go Public Amid the Pandemic? (The Asset)
• Philippines’ Largest IPO Ends Flat in Debut Trading (The Asset)
• Thoughts for Investors: Bongbong Marcos Wins the 2022 Philippines Elections in a Landslide (EMS Substack)
• Can a Barbecue Baron Kick off a Big Year for Philippine IPOs? (Nikkei Asia)
• Jollibee’s Quest for Global Dominance Derailed by Virus (Nikkei Asian Review)
• The Philippines: The Problem is Poverty (Inquirer)