PLDT: No fraudulent capex spending
31 March 2023
PLDT has stated that there was no fraudulent activity in relation to its PHP48 billion capex overspending last year, but profit fell in its full 2022 financial year due to the overrun.
The operator said in a stock exchange filing that it had completed a forensic review of the elevated capex spend in December. It was conducted by an external party, focusing on the financial year between 2019-20.
PLDT stated that it found: “no evidence of fraud, intentional concealment, or bad faith conduct on the part of any employee of the company and no basis to restate the company’s historical financial statements.”
Find out more Ooredoo nears towers negotiation finish line
28 February 2023
Ooredoo Group is in the last rounds of negotiations with interested parties for its portfolio of towers, with a deal it expects to be finalised this year, according to Bloomberg.
Ooredoo Group CEO Aziz Aluthman Fakhroo said that the long-running process to sell off its 20,000 towers across six countries is ‘on schedule.’ It saw 50 bids and the company is now in the ‘final rounds of negotiations’ with the expectation to announce the transaction in the first half of 2023.
Find out more
Mitratel prepares for 5G
19 January 2023
Mitratel prepares for 5G
Dayamitra Telekomunikasi (Mitratel) has stepped up a move to connect its portfolio of towers using optical fibre, acquiring more than 6,000km of cable assets from two local companies.
Mitratel signed purchase agreements with Sumber Cemerlang Kencana Permai and Trans Indonesia Superkoridor for fibre assets connecting 2,436 towers across 86 cities.
Theodorus Ardi Hartoko, Mitratel president director, said that the acquisition is designed to support the move to 5G services, which he expects to pick up in the next few years.
Find out more Global drone tower inspection market to reach US$1,397.6 million by 2033
17 January 2023
Drone tower inspection market on the rise
The global drone tower inspection market is estimated to exceed US$298.3 million by the end of 2023, growing at a compound annual growth rate (CAGR) of 16.7% over 2023-2033 to US$1,397.6 million.
Traditional methods of inspecting communication facilities, such as towers, cell towers, poles, and others, are no longer an option because of changing industry standards and governmental requirements. The issue is made easier by drone tower inspection services.
Drones can be utilized for regular tower inspections instead of sending teams of actual workers to the tower. It's faster, safer, and probably affordable in the future. With drones, regular inspections can be done more often, which makes the work of the towers more reliable.
Find out more