PLDT announced that they will be increasing their capital in 2018 to improve the internet. From this year’s PHP 38 billion, they will be increasing their capital expenditure to PHP 50 billion next year. The high increase was said to be spent on the company’s expansion and improvement of mobile and fixed-line services.
“We will announce a historic high capex next year, north of P50 billion,” PLDT Chairman, President and CEO Manuel V. Pangilinan said in a statement. He then noted that the capex will be funded through the sale of assets.
“Well, the normal level of around P40-ish billion, the EBITDA (earnings before interest, taxes, depreciation and amortization) can handle that. The incremental capex of around P10 billion, we’ll fund through the sale of assets. We still have receivables from MPIC from the sale of Beacon, so we might sell some of that,” he stated.
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