PLDT Inc. is among the global organizations recognized at the prestigious World Procurement Awards 2024 for having achieved procurement excellence.
The only Philippine company shortlisted, PLDT was nominated under the Ivalua Procurement Excellence Award category, which recognizes organizations and teams that have successfully delivered tangible and quantifiable results through advanced approaches to spend management.
“We are honored and humbled to be part of this year’s World Procurement Awards nominees. Being shortlisted highlights the significant strides PLDT has made on financial prudence, operational excellence, transformative change, and sustainability,” said PLDT Group chief procurement advisor Rajat Sarna.
“We will continue to collaborate with our business units and suppliers, to uphold ethical and sustainable business practices, and attain positive impact on our business,” Sarna said.
The PLDT Group, in support of the company’s purpose of inspiring innovations and fulfilling its ambition of becoming a sustainability leader in the region, continues to work closely with its business partners to ensure judicious procurement spending, operational efficiency, and responsible business operations.
PLDT said its capital expenditures for 2023 amounted to P85.1 billion, lower than the P96.8 billion for 2022.
Capex intensity ratio or capex as a percentage of revenues was at 42 percent, versus 50 percent in 2022.
Capex is anticipated to land at a range of P75 to P78 billion in 2024—a decline in spend for the second year in a row.
This is in line with the goal of reducing capex spend in the near- to medium-term, and attaining positive free cash flow.
The annual World Procurement Awards celebrates the most exceptional individuals, teams and organizations in procurement, making it one of the most prestigious professional recognition programs in the industry.
This year’s shortlist highlights achievements and innovations in the international procurement landscape.
Results were deliberated by a distinguished panel of global procurement experts from industry giants such as Mars, BAE Systems, CBRE and PwC.
Winners will be announced during a live ceremony on May 16, 2024 at the InterContinental London.