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Category Archives: GLO

Globe Forms Holdings Firm for Non-Core Businesses

Globe Telecom, Inc. (GLO) is spinning off its new and strategic businesses into a new wholly owned holding company. The company’s board of directors has approved the creation of a wholly owned holding company wherein the new and strategic businesses would be consolidated.

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The creation of the holding company aims to provide more focus on developing and growing its new and strategic businesses. This will allow globe to venture into strategic non-core business, but still leveraging on our strengths as a telco.

So far, the company cannot provide details about the new company due to regulatory policies.

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Posted by on June 18, 2015 in Corporate News, GLO, Stock Market

 

Globe opens retail store, takes aim at multinational firms in Singapore

Globe Telecom, Inc. (GLO) has expanded its operation in Singapore, targeting foreign enterprises that seek seamless communications between Singapore and Manila.

“We’re opening a new company called Globetel Singapore,” Gil Genio, Globe chief operating officer for Business and International Markets, said.

“We’ve established what is called a facilities-based license in Singapore,” Genio said.

According to Infocomm Development Authority of Singapore, facilities-based operators offer telecommunication switching or services to other licensed telecommunication operators, business or consumers.

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“We have a long partnership with SingTel and a co-branded SIM in Singapore. We are expanding that relationship because we can serve also companies and other foreign carriers who want links between Singapore and the Philippines by establishing a new hub in Singapore,” Genio said, referring to Singapore Telecoms, the Ayala Group’s strategic partner in Globe.

The Ayala-led telco earlier said it plans to offer financial services and mobile advertising in Myanmar and other Southeast Asian markets once Asean integration is in place.

 
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Posted by on November 27, 2014 in Corporate News, GLO, Stock Market

 

Globe eyes expansion in ASEAN

Globe Telecom, Inc. (GLO) is eyeing to expand operations within the Association of Southeast Asian Nations (ASEAN) to complement the relatively strong economic growth within the region.

Globe CEO Ernest Cu sees Myanmar as a potential expansion area, adding that there are other areas such as financial services and mobile advertising that they could get involved in.

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During the summit, Cu said Globe is considering to offer GCash, its mobile-based banking service, to the Southeast Asian market including groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand and Vietnam.

The service offers BanKO, a mobile-based, microfinance-focused savings bank, along with Bank of the Philippine Islands and Ayala Corp. Globe will offer said services once the ASEAN Economic Community takes place in 2015.

 
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Posted by on November 25, 2014 in Corporate News, GLO, Stock Market

 

Philippine telcos most at risk in ASEAN for margin erosion —Fitch

Philippine telecommunications companies are the most exposed to margin declines next year in Southeast Asia as their profitable text revenue is replaced by data services, a report from the Fitch Ratings credit agency said on Monday.

Fitch Ratings said it expects most South and Southeast Asian telecommunications companies to face a challenging environment next year, with the sector outlooks remaining stable.

“Free cash flow will be minimal or negative due to high capex; profit margins will decline on competition; and revenue growth will be limited to low-to-mid single digit percentages as fast-growing data services offset declines in traditional voice and short message service revenues,” the report read.

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Fitch noted that Indian, Indonesian, Sri-Lankan, and Philippine telecommunications companies’ 2015 revenue is likely to “grow by mid-single-digits due to growing data usage arising from the greater availability of cheaper smartphones and generally affordable data tariffs.”

According to Fitch Ratings, the Philippines, Malaysian and Indonesian telecommunications companies’ 2015 profit margins will decline due to competition, higher marketing expenses and data-to-voice or text substitution.

The agency, however, noted that Philippine telcos are “most exposed to margin declines as their most profitable text revenue is replaced by data services given that text’s revenue contribution is highest at 30% than peers.”

 
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Posted by on November 19, 2014 in Corporate News, GLO, Stock Market, TEL

 

Globe opens retail store in Milan

Globe Telecom, Inc. (GLO) has opened its first overseas retail store in Milan, the company said in a statement released on Monday. The Ayala-controlled telco said in the statement that its maiden international is open Tuesdays to Sundays, offering products such as the Globe Italy SIM as well as prepaid cards in various denominations. To celebrate the opening, Globe said it will offer discounts and giveaways in September to customers when they avail the Italy SIM and other services.

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“We are proud to showcase our innovative products and superior customer experience overseas. This is our first store outside the Philippines, boasting of the same cutting edge look-and-feel and retail experience of our Globe stores back home,” Ernest L. Cu, president and chief executive officer of Globe, said in the statement. “Wherever in the world, as it is in Milan, Italy, Filipinos can experience the Globe brand of wonderful service to all its customers,” he added.

Milan is home to a third of the 200,000-strong overseas Filipino community in Italy. Globe Telecom sustained its growth momentum in the first half of the year, as core profit increased 18% from a year earlier, underpinned by strong performance across business segments.

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Posted by on September 23, 2014 in GLO, Stock Market

 

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