Eastern Communications earmarks P2.8-B capex for expansion

Eastern Communications has allocated P2.8 billion for capital expenditure this year to finance the expansion of its connectivity and information and communications technology services to cover more areas across the country.

In a statement on Wednesday, the telecommunications firm said the expansion plans will cover wider service areas such as Davao City, Cagayan de Oro, Dumaguete, Tagbilaran, Bacolod, Roxas, Kalibo, Caticlan, Boracay, Naga, Legazpi, Iriga, and Sorsogon.

The firm said it already started laying fiber optic cables mainly in central business districts and regional hubs to improve services for local enterprises and address the requirements of clients.

"Eastern will continue this trend and we plan to be available nationwide in the next few years. This is an exciting time of growth for all of us and we, as a telecommunications company, look forward to being a big part of the Philippines' stronger tomorrow," said co-coordinator Atty. Aileen Regio.

Eastern Communications' portfolio of services includes data internet, voice, managed services, data center and cloud services, and cybersecurity services.

The company also allocated P2.8 billion for its capex in 2020, also for expansion and its network buildup in Luzon, the Visayas, and Mindanao. It has yet to announce its 2020 financial performance, but ended 2019 with a 22% increase in revenues to P3.3 billion. — Jon Viktor D. Cabuenas/RSJ, GMA News