PLDT Capital planning new investment deals
The investment arm of PLDT Inc. is looking at more investment deals next year to expand its portfolio.
PLDT chairman and president Manuel Pangilinan said the mother firm would revisit the portfolio of PLDT Capital next year.
Pangilinan said he expects some acquisition for PLDT Capital by next year.
“It’s not big (acquisition), some interesting opportunities,” he added.
PLDT Capital was formed in 2015 with an initial budget $50 million to support PLDT business units, which include Smart, ePLDT, Digital5 and Voyager to expand their portfolio of digital services in the Philippines, the rest of Southeast Asia and other developing economies in the world.
PLDT Capital is an important pillar for the PLDT Group to sustain its digital pivot.
Last year, PLDT Capital invested $5 million in Matrixx Software, a California-based provider of real-time, integrated infrastructure for the business of digital service providers.
Matrixx provides a real-time digital commerce platform for creating and monetizing content and services.
In 2015,PLDT Capital invested $10 million in Phunware, a US-based mobile devices and application company; $5 million in Singapore’s Paywhere; and $5 million in AppCard.
PLDT, partly owned by Hong Kong’s First Pacific Co. Ltd. and Japan’s NTT group, earlier reported a net income of P4.95 billion in January to March, down 20 percent from P6.21 billon in the same period last year.
Core profit, which excludes foreign exchange gains or losses and other non-recurring income, also dropped 26 percent to P5.3 billon from a year earlier.
Consolidated service revenues fell 7 percent to P35.6 billion from last year’s P40.59 billion.