Quantcast
Latest Stories

SMC pledges to put more capital in Liberty Telecom

By

MANILA, Philippines—Conglomerate San Miguel Corp. has renewed its commitment to the local telecommunications industry, pledging to pour in more capital into money-losing Liberty Telecom Holdings Inc. to pay off its debts.

The company was mum on Liberty’s expansion plans for the year, but San Miguel president and chief operating officer Ramon S. Ang said the parent firm was willing to invest more to keep the telco afloat.

“If we need to invest more, we will. That will be for general requirements, and the company has obligations that need to be settled,” Ang told reporters on the sidelines of the company’s shareholders’ meeting.

“We want to keep the company strong,” Ang added, despite San Miguel being merely a passive investor in Liberty, which operates under the brand wi-Tribe.

“We are just a minority partner there. All of its operations so far are handled by Qatar Telecom,” Ang said.

Qatar Telecom or QTel was San Miguel’s partner when it acquired Liberty.

“We are studying our next step,” Ang said.

He refused to divulge details on Liberty’s expansion plans, saying that it did not want to telegraph the company’s moves to its competitors.

Earlier, Liberty said it would participate in the government auction for the remaining third-generation or 3G wireless frequency in the country.

Liberty’s 2012 revenue reached P575 million, up 9 percent year on year.

The company’s losses, however, reached P1.523 billion in the same year, lower by 9 percent from 2011.


Follow us on Facebook Follow on Twitter Follow on Twitter




Recent Stories:

Why ‘Noah’ can’t dock his ark at Philippine theaters 3 hours elapsed Acclaimed artist goes wild while on holiday 3 hours elapsed Believing in this mermaid 3 hours elapsed Missing Xian 4 hours elapsed Awarded TV couple brings Jesus’ life to the big screen 4 hours elapsed 2 killed in apparent Bahrain car bombing 6 hours elapsed Tottenham beats Fulham 3-1 in Premier League 6 hours elapsed SC suspends proctor in 2011 bar exams 6 hours elapsed
Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Business , debts , Liberty Telecom , San Miguel Corp. , Telecommunications

  • hustlergalore

    you can read from here how much telcos cap your bittorrent.

    http://dpidotischooldotsyrdotedu/ISPtable.html

    also here, you can see which companies are the biggest throttlers. guess? liberty telecom. LOL

    http://dpidotischooldotsyrdotedu/Topthrottlers.html

  • Platypus09

    Do you guys realize that SMC is encroaching other industries, from food to construction and many others?

    There is nothing wrong with that, but somehow this practice from rich companies does not promote business competitiveness with the other small and exclusive companies.

    Greediness is the word.. There has to be a limit for what these companies can diversify.

    • http://www.facebook.com/kenjie.hasaki Kenjie Hasaki

      You cannot do that. Its anti-business, anti-progress, anti-competitiveness…

  • indiosbravos2002

    They also cap your bandwidth speed. So A 2mbps speed is actually not 2mbps but could be slower than 50kbps.

  • indiosbravos2002

    Witribe sucks. No bandwidth. No billing. No customer service and their tech supports normal responseto an issue is to reboot your modem which most of the time will not resolve your issue. Judt visit their facebook fanpage and youll see how happy their customers are… NOT

  • Mark

    Just lower your text charges against Globe and Smart and you will be on your way to profitability. Guaranteed!

    • indiosbravos2002

      Their business is data not text or calls.

  • diverme

    with your crappy service and customer support its no surprise wi tribe is losing money

  • tanga_hanga_ni_abnoy

    wala ata kayong bandwidth manager kaya labulabo nga subscribers nyo

    • RiverHorse

      nde bandwidth manager ang wala sa wi-tribe… wala silang bandwidth, period. saturated na yung katiting na meron sila, nde pa nila dinadagdagan ever since nung launch.



Copyright © 2014,
.
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement Advertisement
  1. Nasa’s moon-orbiting robot crashes down
  2. Did Deniece Cornejo lambast Vhong Navarro on social media?
  3. Netizens seethe over Aquino’s ‘sacrifice’ message
  4. Mommy Dionisia sings ‘Riking Bull,’sends netizens ablaze
  5. Netizens pay respects to Gabriel Garcia Marquez
  6. Nokia recalls 30,000 chargers for Lumia 2520 tablet
  7. Facebook rolls out ‘nearby friends’ feature
  8. Filipinos #PrayForSouthKorea
  9. Taylor Swift tries video blogging, crashes into fan’s bridal shower
  10. Mommy Dionisia Pacquiao scores, takes over social media
  1. Did Deniece Cornejo lambast Vhong Navarro on social media?
  2. Mommy Dionisia Pacquiao scores, takes over social media
  3. Mommy Dionisia sings ‘Riking Bull,’sends netizens ablaze
  4. Memes flourish after Pacquiao victory
  5. Netizens react to Pacquiao’s victory over Bradley
  6. IT technician found guilty of defrauding firm of P130,000
  7. Netizens seethe over Aquino’s ‘sacrifice’ message
  8. Philippines may watch ‘blood moon’ online
  9. Nude and so dangerous
  10. Online-addicted man arrested over son’s death
  1. #RejectedBbPilipinas2014Questions flood Twitter
  2. Did Deniece Cornejo lambast Vhong Navarro on social media?
  3. Netizens fall in love with Crimea prosecutor Natalia Poklonskaya
  4. Mommy Dionisia Pacquiao scores, takes over social media
  5. Nude and so dangerous
  6. Mommy Dionisia sings ‘Riking Bull,’sends netizens ablaze
  7. Russia tries to curb Crimean prosecutor’s Internet fame
  8. Memes flourish after Pacquiao victory
  9. Why didn’t missing jet passengers use their cellphones?
  10. Netizens thank Capa for Lee arrest

News

  • ‘Dry spell’ delayed, thanks to busted valve
  • At 77, Erap has Easter treat for Manila cops but keeps City Hall folk in agony
  • Joy Belmonte defends council, waste-to-energy tech
  • House bill seeks special body to manage, protect Manila Bay
  • No Lenten break for QC thieves
  • Sports

  • Tottenham beats Fulham 3-1 in Premier League
  • Martino defends Messi, takes blame for Barca fail
  • Vettel hoping for resurgence at Chinese GP
  • MLB pitcher donates $100,000 for Sewol ferry victims
  • Hamilton takes pole at Chinese Grand Prix
  • Lifestyle

  • Levine designs womenswear with help from fiancee
  • Gabriel Garcia Marquez, Nobel laureate, dies at 87
  • Ford Mustang turns 50 atop Empire State Building
  • Pro visual artists, lensmen to judge Pagcor’s photo contest
  • ‘Labahita a la bacalao’
  • Entertainment

  • Why ‘Noah’ can’t dock his ark at Philippine theaters
  • Acclaimed artist goes wild while on holiday
  • Believing in this mermaid
  • Missing Xian
  • Awarded TV couple brings Jesus’ life to the big screen
  • Business

  • A workplace of new possibilities
  • Learning by doing: pilgrimage of faith
  • Fiat-Chrysler to produce iconic Jeep in China from 2015
  • US commerce secretary spells out economic facet of ‘pivot to Asia’
  • Italy sells luxury state cars on eBay
  • Technology

  • Nasa’s moon-orbiting robot crashes down
  • Netizens pay respects to Gabriel Garcia Marquez
  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Facebook rolls out ‘nearby friends’ feature
  • Netizens seethe over Aquino’s ‘sacrifice’ message
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • Cesar Chavez movie sparks memories of Fil-Am labor leaders
  • Filipinos in US poised for success
  • Visas for priests and other faith leaders
  • DOH to continue tracking co-passengers of OFW infected with MERS virus
  • 5 Filipinos with MERS in UAE reported in stable condition
  • Advertisement
    Marketplace