Dennis Uy-Led Telco Dito Is Spending P50 Billion This Year for Expansion
The country’s third telco franchise holder is spending P50 billion in capital expenditures (capex) this year to further expand its network and meet its commitments to the government.
Dito Telecommunity Corp. is already fully funded for the rest of its commitment period as it had already secured loans and equity, according to Dito chief administrative officer Adel Tamano. He added that the amount will be used to expand Dito’s network and will also use its revenues to fund its capex.
“We’re spending more than P50 billion and that funding is already there,” he said.
The capex is expected to help Dito reach at least 70 percent of Filipinos this year. The telco says Dito’s network is currently available to “64 percent to 65 percent” of the population.
“I keep saying we are very confident we can achieve the 70 percent population very early—probably May or first week of June—we can already achieve the 70 percent to prepare ourselves for the conduct of the third technical audit,” Dito chief technology officer Rodolfo Santiago said.
Dito reported six million subscribers as of the end of 2021 and hopes to double that number in to 12 million this year.
Formerly known as Mislatel, Dito is a consortium led by businessman Dennis Uy’s Udenna Corp. and Chinese state-owned China Telecommunications Corp. It began commercial operations in March 2021, hitting one million subscribers after three months.