The dominant telco had earlier said it was looking to post a P40.5-billion net income for 2011, just 0.75% higher than the P40.2 billion recorded last year.
PLDT profits have so far fallen 6% to P10.734 billion in the first quarter from year-ago levels, according to earlier reports amid a slight dip in revenues.
“The growth drivers will be fixed broadband and wireless [services] and our information and communication technology business which includes…both our call center and business process outsourcing business,” Mr. Nazareno said.
Malaysia
PLDT is thus poised to launch its mobile telephone service in Malaysia in the coming months, he said.
“We have ongoing discussions with a Malaysian operator,” Mr. Nazareno said, adding that rollout is likely towards the end of the third quarter.
The plan involves setting up mobile virtual network operators (MVNOs) in the Southeast Asian neighbor by tapping local mobile network operators for the use of their radio spectrum and infrastructure.
To date, the telecommunications firm has two existing MVNOs: one in Hong Kong and another in Singapore serving more than 100,000 subscribers.
Spending
For capital expenditures, Mr. Nazareno said the company allotted P34 billion this year for modernization plans. This figure represents nearly a quarter of forecast revenues. Banks will be tapped to fund part of the spending, he said.
Mr. Nazareno went on to reiterate that PLDT’s acquisition of 51.55% of rival Digital Telecommunications Philippines, Inc. (Digitel) will be accomplished after regulators give their approval.
The telco will not be meeting its June 30 deadline of closing the deal after the National Telecommunications Commission said hearings will last until July 14.
The P69.2-billion deal will give the dominant telco some 70% of the domestic mobile market, according to earlier reports.
PLDT shares closed at P2,400 each yesterday, up 0.33%.
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