THE Senate approved on third reading a bill renewing Transpacific Broadband Group International, Inc.’s congressional telecom franchise for another 25 years, the listed company announced on Tuesday.
In a disclosure to the stock exchange, the company said the Philippine Senate on March 24 approved on third reading House Bill No. 8551 that seeks to renew its franchise for another 25 years.
Under the franchise bill, the company will be allowed to construct, establish, install, maintain and operate communications systems for the reception and transmission of message within the Philippines.
The House of Representatives approved the bill on Feb. 10.
Also under the bill, the company must secure a Certificate of Public Convenience and other required permits and licenses from the National Telecommunications Commission in relation to the operation of its telecommunication systems and facilities.
On establishing or maintaining poles and other conductors, the company will need to secure approval and permit from the Department of Public Works and Highways or the local government units.
The company said recently that it had set a target to install 10,000 sites and towers for the third telco player.
“With the fast-growing demand for connectivity, Transpacific Broadband has invested in new satellite infrastructure (Ka-Band) to provide the most reliable and cost-efficient connectivity to its subscribers, thereby increasing shareholder value and economic performance,” the company said in its annual report.
Transpacific Broadband said it generates revenue mainly from internet, intranet, and local loop services subscriptions for schools, the private sector and government agencies.
It is developing a niche as a telecommunications tower infrastructure provider. — Arjay L. Balinbin
