Anabelle Chua is the chief finance officer of PLDT, Incorporated. She disclosed that the company intends to dispose some of its buildings.
Chua described these few properties as opportunistic. Furthermore, she cited that they are worth billions of pesos.
PLDT aims to sell the said facilities to help finance the record capital expenditures or capex of the firm for this year, Chua relayed.
The company’s finance executive shared that the telecommunications and digital services provider had already sold one of their properties in Makati City.
This facility is the Smart Tower, according to the report by Philippine daily newspaper The Philippine Star.
The company has declined to disclose details regarding the new owner of the property. Nevertheless, they said that it is also a publicly listed firm.
Chua remarked that the Smart Tower is certainly not much for financing. However, selling it was in preparation for their transfer to their next corporate headquarters.
She said that the disposal of the building also meant consolidating themselves to their new head office.
Chua affirmed that they initially need to look for a new building where they would move. The following action was getting rid of the Smart Tower, she continued.
Chua relayed that PLDT also intends to dispose or redevelop the Ramon Cojuangco Building.
This property has been the headquarters of the telecommunications company for many years.
Also, the PLDT chief finance officer discussed approximately five properties that they had identified for sale.
Chua cited that two of them are in Mabalacat, Pampanga, and Mabolo in Cebu City. She affirmed that these facilities would likely close during this year’s first quarter.
Finally, Chua pointed out that they have surplus facilities based in other locations. These possessions include one in Grace Park in Caloocan City and another in Pasay City.
In line with these developments, PLDT chief executive officer Manuel V. Pangilinan made an announcement yesterday.
He said that the telecommunications and digital services provider is allocating P83 billion this year.
Pangilinan remarked that this budget allocation is the company’s all-time-high capex financial blueprint.
It dwarfs the P72.9 billion capex that was the previous record high for 2019, he said.
The PLDT chairman relayed that the company had allocated a more considerable amount of capex budget.
It is because it intends to carry on with their provision of superb data consumer experience.
Moreover, Pangilinan cited that they are eager to better respond to the rapidly-growing data usage of their customers.
On Thursday, March 5, 2020, PLDT, Incorporated (PSE: TEL) closed at P1,043.00 per share.
This last trade price of the firm’s stock is up by P28.00 or 2.76 percent from its previous close.
Furthermore, the total value turnover reached P294,289,040.00.
The Philippine Stock Exchange recorded the 52-week high of PLDT at P1,373.00. Meanwhile, its 52-week low is at P976.00.
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