PLDT sets 2018 capex at P58B

PLDT Inc. has set a capital expenditure (capex) of P58 billion this year, a “historic high” for the company, to improve its broadband and data business units.

“For 2018, we are guiding towards a higher capex number of P58 billion, and that’s mainly to support our data and broadband business,” PLDT chief finance officer Annabelle Chua said in a press conference in Makati City.

PLDT Inc. president and CEO Manuel Pangilinan has said the company would allocate a capital expenditure north of P50 billion in preparations for the entry of a third telecom player.

“This revised allocation reflects PLDT’s more aggressive roll-out of its fiber broadband services, which also supports the stepped-up deployment of our mobile network,” the company said.

“Increasingly, utilizing fiber to provide high-capacity links for cellular base stations,” PLDT said.

The 2018 capex will be funded through a combination of internally generated funds, as well as proceeds from the sale PLDT’s stake in Beacon Electric Asset Holdings Inc.

PLDT completed the sale of its 50-percent stake in Beacon Electric to Metro Pacific Investments Corp. (MPIC) for P48 billion in June 2017. —VDS, GMA News