BayanTel eyes wireless coverage nationwide
BAYAN Telecommunications Inc. (BayanTel) on Tuesday said it plans to provide wireless landline service nationwide in three to five years.
On the sidelines of a management conference, Tunde Fafun-wa, BayanTel chief executive consultant said that offering wireless landline service nationwide would cost the Lopez-led company about P25 billion.
At present, the telco has rolled out its service to key Metro Manila cities of Marikina, Manila, Caloocan, Pasay, Pasig and key cities in Visayas and Mindanao.
BayanTel’s wireless landline service uses code division multiple access (CDMA) technology, allowing limited mobility for a fixed monthly charge and value added services such as unlimited call and text mes-saging.
Fafunwa said the company is targeting more than 100,000 subscribers before the end of the year. Its subscriber base as of the third quarter stood at more than 70,000.
He said the telco is allotting P1.5 billion to P2 billion in the next two to three years to finance its expansion plans.
Fafunwa said the capex will finance the company’s additional network base stations, telecommunication infrastructure backbone and support systems.
He said the company plans to go public in three to four years, once it sustains its revenues as it expects top line to grow at least 10 percent this year.
According to the Securities and Exchange Commission, a company must have been profitable for the preceding three years before it can undertake an initial public offering.
As of June, the company paid more than P2 billion in interest and principal to its creditors. The telco is under a rehabilitation program aimed at settling its obligations to creditors.
BayanTel’s total debts amounted to about $300 million. Among its creditors are the Development Bank of the Philippines, the United Coconut Planters Bank and the Land Bank of the Philippines.
--Darwin G. Amojelar - Manila Times
On the sidelines of a management conference, Tunde Fafun-wa, BayanTel chief executive consultant said that offering wireless landline service nationwide would cost the Lopez-led company about P25 billion.
At present, the telco has rolled out its service to key Metro Manila cities of Marikina, Manila, Caloocan, Pasay, Pasig and key cities in Visayas and Mindanao.
BayanTel’s wireless landline service uses code division multiple access (CDMA) technology, allowing limited mobility for a fixed monthly charge and value added services such as unlimited call and text mes-saging.
Fafunwa said the company is targeting more than 100,000 subscribers before the end of the year. Its subscriber base as of the third quarter stood at more than 70,000.
He said the telco is allotting P1.5 billion to P2 billion in the next two to three years to finance its expansion plans.
Fafunwa said the capex will finance the company’s additional network base stations, telecommunication infrastructure backbone and support systems.
He said the company plans to go public in three to four years, once it sustains its revenues as it expects top line to grow at least 10 percent this year.
According to the Securities and Exchange Commission, a company must have been profitable for the preceding three years before it can undertake an initial public offering.
As of June, the company paid more than P2 billion in interest and principal to its creditors. The telco is under a rehabilitation program aimed at settling its obligations to creditors.
BayanTel’s total debts amounted to about $300 million. Among its creditors are the Development Bank of the Philippines, the United Coconut Planters Bank and the Land Bank of the Philippines.
--Darwin G. Amojelar - Manila Times
posted by OlongapoCity Zambales at
9:31 PM
Resolutions, Meeting Agenda, Minutes of Board Meeting and other pertinent information regarding the transparent conduct of the board are posted here for ready reference
0 Comments:
Post a Comment
<< Home