Globe signs $90 million loan agreement with China Bank (Phillipines)
Telecommunications company Globe Telecom has signed a 10-year long-term loan agreement with China Banking Corporation worth US$ 90 million. According to company reports, the loan will help the company carry out the capital expenditure for this year focused towards modernizing its network and technology in an attempt to improve voice and data services.
Further, the company also announced plans of a $790-million network modernization program in the next five years, of which it reportedly plans to spend $640 million in 2012 and 2013. The company has reportedly claimed that this is the first loan agreement signed by the operator this year and that it carries a floating rate of interest.
Smart Communications starts public trial of its LTE network (Philippines)
Philippines’ leading wireless services provider, Smart Communications, has reportedly started the public trial of its LTE network in Manila which is expected to last for three months. According to reports, the operator plans to offer selected users access to thirty LTE sites in the capital, by providing them with LTE and HSPA capable dongles.
As per sources, the dongle is expected to offer users speeds of up to 42 Mbps during the trial period which will be till mid-February next year. Further, Smart is the first operator in Philippines to launch LTE services, which is currently limited to the region of Boracay.
Reports reveal that rival operator Globe Telecom has secured a loan amounting to US$ 114.2 million in order to funds its network upgradation, and is currently working towards launching its HSPA+ network.
Globe Telecom inks $ 114 million loan agreement with Rizal Commercial (Philippines)
Globe Telecom, a leading telecommunications company in Philippines, has reportedly entered into a US$ 114 million loan agreement with Rizal Commercial Banking Corp. to fund its capital outlays for the next year, inclusive of network modernization and IT upgrade.
According to reports, this loan agreement which extends over seven years is Globe’s second borrowing this year, following a $ 159 million loan from BDO Unibank Inc. As per sources, the funds from the first loan were used to pre-pay debt as well as fund the capital expenditures for this year.
Further, the company also announced plans of a $790-million network modernization program in the next five years, of which it reportedly plans to spend $640 million in the next two years.
Globe expects profit decline over $790 million network-upgrade (Phillipines)
Globe Telecom Inc., a leading telecommunication operator in the Philippines, has reportedly said that the next two to three years may witness a decline in profits as the company focuses on a network upgrade worth $790 million in an attempt to increase capacity and reduce costs.
According to reports, Albert De Larrazabal, CFO, Globe Telecom has said that while they don’t envision a loss, they do expect a decline in the income. He added that they expect to invest around $640 million of the capital expenditure by 2013. He added that the company plans to borrow $590 million next year to help finance the upgrade for which it is in touch with several banks as well as China’s export-import bank to secure loans, export credit and commitments for the issuance of peso-denominated retail bonds. The company reportedly expects to secure as much as $250 million by the second quarter of 2012.
As per sources, Ernest Cu, President, Globe Telecom has said that the network modernization is the company’s most significant investment for the past two decades and should increase capacity as well as save on operating costs and capital expenditure totaling $390 million.
Globe launches unlimited post- paid SMS service (Philippines)
Globe Telecom, Philippines’ telecommunications provider has introduced an unlimited SMS service for postpaid subscribers.
Dubbed The Globe MySuperTXT All add-on comes with a price tag of US$13.78 for 30 days and offers unlimited text messages to all mobile networks. The service is also available as a daily option for US$0.46. The add-on will be available until May 30 this year.
Xpress Money ties up with Globe Telecom’s GCASH REMIT
Xpress Money, the leading global instant money transfer brand, has entered into a strategic alliance with G-Xchange Inc., a leading player in mobile commerce services and a wholly-owned subsidiary of Globe Telecom, to further extend its strong payout network in Philippines.
Top Officials at Xpress Money said, “GCASH REMIT and Xpress Money are established brands in the remittance industry. This partnership provides Xpress Money customers with a bigger network of payout locations in Philippines. Xpress Money prides in its pan-global network of more than 70,000 agent locations across 95 countries. This association, which is in line with Xpress Money’s global mission to further enhance the value proposition by associating with new partners, who bring in sustainable benefits to its customers, would benefit the Filipino diaspora significantly.”
Senior officials at G-Xchange, Inc. said, “GCASH REMIT offers Overseas Filipino Workers’ (OFWs) beneficiaries more options when picking-up Xpress Money remittances. Our network of 6,000 GCASH REMIT pay-out outlets including gift shops, multi-purpose cooperatives, cell phone shops, airtime loading stations etc., are found not only in city centers but even in rural communities that are located closer to the beneficiaries. Moreover, beneficiaries are assured that they will receive the full remittance amount, without any hidden or service charges, plus excellent customer service guaranteed by Globe Telecom.”
Xpress Money has become the favourite brand of millions of people across the world, connecting them with their loved ones, easily. Customers, who value prompt service, reliability & convenient pay-outs, insist on Xpress Money. Many prestigious banking and non-banking entities form part of its agent network. Integration of the Xpress Money and GCASH systems has been provided by 4POWER Infocom FZ LLC using their POWERremit platform.
Xpress Money has carved a niche for itself, thanks to its unique positioning as an ‘affordable instant money transfer brand’ giving value-for-money service, transaction confirmation through SMS messaging to the sender upon payment collection by the beneficiary, and strategic positioning of pay-in and pay-out locations covering major residential and commercial hubs, which provide easy accessibility to customers.
Both Xpress Money and GCASH REMIT, bring together strong values that are aimed at enhancing customer experience. And provide expatriates with a reliable channel to send money home effortlessly within minutes.
For more information log on to http://www.xpressmoney.com and http://www.globe.com.ph/gcash
Globe Telecom offers unlimited SMS to postpaid customers (Philippine)
Philippine telecommunications provider Globe Telecom is reportedly offering its unlimited SMS service to its postpaid subscribers.
According to the company, its ‘MySuperTxtAll’ allow postpaid subscribers to send unlimited text messages to all networks. Without the need for an extra phone or SIM, postpaid subscribers can make unlimited text messages to subscribers of Smart Communications, Sun Cellular, Touch Mobile, Talk ‘n Text or Red Mobile.
The service is available until May 30 and postpaid subscribers will be charged US$13.70 per month on top of their current bill.
Philippine networks demand for additional radio spectrum
Philippine mobile networks are pressurising the telecoms regulator, the NTC to release an additional spectrum so that they can maintain mobile broadband network quality.
The call comes after the regulator rejected an earlier proposal to allow the operators to impose a limit on the amount of data a customer could download. It has been estimated that just one percent of their customers absorb 40% of the available broadband capacity.
According to Globe Telecom, they need additional frequencies for them to deliver an improved broadband service. They have been asking this from the NTC.
The regulator though states that it has nearly run out of available spectrum in the 2.3Ghz and 2.5Ghz bands, and all the available spectrum in the common 3G band, 2100Mhz has already been allocated. The companies also added that the spectrum blocks are fragmented which limits their use for mobile broadband services.
The regulator is currently considering proposals to release some of the 700 MHz spectrum for mobile broadband services.
Globe posts 22% decline in net profit in 2010 (Philippines)
Globe Telecom, Philippines’ second largest telecommunications group, has posted a net income of US$225.2 million for 2010, a loss of 22% from US$287.96 million a year earlier, and below the market expectations of net income of US$233.67 million.
Core net income declined to US$208.01 million as compared to US$275 million in the previous year, on revenues of US$1.42 billion, from US$1.43 billion.
According to the company, its net profit in the fourth quarter of 2010 was US$52.69 million, higher than consensus forecast of US$50.39 million. The Q4 gains were attributed to the addition of more cellular phone customers.
