Eastern Communications earmarks P2.8B capex

INTERNET service provider Eastern Communications is allotting P2.8 billion in capital expenditures this year, or more than three times last year’s P850 million, to further expand its coverage and modernize its existing network.

“A total of P2.8-billion capital expenditure will be allotted as Eastern Communications envisions providing the Philippine businesses and households with innovative services and a faster, more reliable internet connection,” the company said in a statement on Monday.

It said it is aiming to establish a presence in Davao, Cagayan de Oro, Iloilo, Bacolod, Tarlac, Cagayan Valley and La Union.

The company is also targeting Cebu, Batangas, Laguna, Rizal, Cavite, Cebu, and Bulacan for its network expansion and modernization program.

The company also said its revenue for 2019 had increased by 22% to P3.3 billion. It attributed the growth to its wider coverage, increased sales and new products, including the upgraded cloud service and cyber defense.

Aileen D. Regio, co-coordinator of Eastern’s executive office, said: “Eastern Communications has transformed in terms of the services we’re now offering to our customers and we have also expanded our footprint in other key areas in the Philippines. Our goal this year is to go nationwide.” — Arjay L. Balinbin