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)
- Why Did Monde Nissin Corporation Decide to go Public Amid the Pandemic? (The Asset)
- A Damaged Culture No More? Investing in the Philippines
- The Philippines: More Two Steps Forward And One Step Back?
- Philippines Globe Telecom to Raise Funds, Expand (The Asset)
- Southeast Asia Bucks Trend of Sinking Global Foreign Investment (Nikkei Asian Review)
- Ayala: Duterte’s China Pivot Transforms Philippines’ Oldest Conglomerate (Nikkei Asian Review)
- Cash Splash: How Sea Became Southeast Asia’s Biggest Public Company (Nikkei Asia)
- Can a Barbecue Baron Kick off a Big Year for Philippine IPOs? (Nikkei Asia)
- Philippines’ Largest IPO Ends Flat in Debut Trading (The Asset)
- As US-China Relations Worsen, Expect Supply Chain Chaos (Freight Waves)
- Dutertenomics: Infrastructure Projects (Nikkei Asian Review)
- Jollibee’s Quest for Global Dominance Derailed by Virus (Nikkei Asian Review)
- Trade War Steers Chinese Investment Toward Southeast Asia (Nikkei Asian Review)
- Duterte Spooks Foreign Investors With Tax ‘Sword of Damocles’ (Nikkei Asian Review)
