Dennis Uy of DITO with 27 Billion expansion in the Philippines

Globally where connectivity is key and well we could say, Life of the business, the telecommunications industry proved to be one of the most essential industries as it enabled personal and professional communication and was a key tool used by businesses.

In the Philippines, the entrance of the 3rd Telco is very much welcome as part of the improvement of telecommunications infrastructure in the nation.

DITO Telecommunity Corp. of Billionaire Dennis Uy has earmarked P27 billion for the continued expansion of its network across the country though is significantly lower than the P50 billion capital budget programmed in 2022.

According to news, the company already spent over P150 billion for the initial rollout of its infrastructure and other operating expenses as part of its commitment to invest P257 billion over a five-year period to achieve 55 mbps of internet speed, covering 84 percent of the population.

DITO now has over 14 million subscribers, surpassing its 12 million target for 2022. The company hopes to double this year.

Dito Telecommunity Corporation, formerly known as Mindanao Islamic Telephone Company, Inc. or Mislatel is a telecommunications company in the Philippines which is also engaged in the business of multimedia and information technology.

Now, Uy disrupted the country’s powerful telecommunications duopoly as head of the China Telecom-backed Dito Telecommunity, formerly called Mislatel Consortium after the Mindanao Islamic Telephone Company that held the telco franchise. The Goliaths in this case: PLDT run by local businessman Manny Pangilinan that counts Indonesia’s First Pacific and Japan’s NTT group as its biggest shareholders, and Globe Telecom, jointly owned by the Ayala Corporation and Singapore Telecom.

As is the case with many entrepreneurs, Uy says success is a recipe of hard work, guts, discipline, resilience and destiny. So while analysts question Uy’s use of debt and public offerings to raise funding without a history of strong profitability, he sees M&A as the most cost-efficient way to grow organically and make an impact. “We’re building companies, building businesses that you can at least make a difference in the industry. Disrupt something. We disrupted petroleum. And maybe now telco.”

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