CONVERGE ICT Solutions, Inc. announced on Thursday that its chief executive officer and co-founder, Dennis Anthony H. Uy, was recently awarded the Global Excellence Award by the International Chamber of Commerce Philippines for leading the “fiber revolution” in the country.
“We belong to an industry that has become a lifeline for Filipinos everywhere. Internet connectivity has become as essential today as food and medicine. For us, at Converge, internet access is not just a necessity but a right of every Filipino,” Mr. Uy was quoted as saying in an e-mailed statement.
Converge said Mr. Uy foresaw the “superiority” of fiber broadband technology as early as the 1990s.
“Starting with customers from special economic zones in Pampanga to the wider community in Central Luzon, and finally making it in Metro Manila, Mr. Uy has brought Converge to the homes of more and more Filipinos over three decades,” it noted.
Converge also announced that its fiber network has reached 9.6 million homes so far. It has rolled out 5.2 million fiber ports across the country.
The company’s “subscriber base hit 1.6 million, double-digit growth over 2020,” it added.
“Underpinning these operational wins are the company’s solid financial performance, pulling in a net income of P5.2 billion, and revenues of P 18.8 billion.”
Converge’s residential revenue for the third quarter of 2021 climbed by 79% to P6.16 billion from P3.44 billion in the same period a year earlier, while revenue from its enterprise segment grew by 18% to P887 million from P752 million previously.
The company aims to cover 55% of Philippine households by 2023.
Mr. Uy has said that the company is also “exploring potential new partnerships to serve [its] customers beyond broadband internet, such as fintech, e-games, content, and others.”
Converge ICT shares closed 0.64% lower at P31.20 apiece on Thursday. — Arjay L. Balinbin
