Converge ICT Solutions Inc. said Thursday it invested nearly P2 billion to roll out underground fiber optic in Panay Island to offer faster broadband internet service in Boracay and nearby provinces.
“The infrastructure here in Boracay is part of the whole Panay Island not only in Boracay, its entire five provinces. We invested almost P2 billion,” Converge co-founder and chief executive Dennis Anthony Uy said.
“We selected Boracay because it’s a tourist destination, and there’s so many complaint of poor service. I told them to disrupt it and to fix it,”’ he said.
The company formally launched its fixed broadband service in the island of Boracay, targeting small and big enterprises as well as residential customers.
“We started to venture outside of Luzon two years ago so our entry into the country’s hottest tourist destinations is an achievement for us,” Uy said
“We are finally here in Boracay, so now businesses of every size can harness the full potential of digitization with our pure fiber connectivity and tailored solutions. Our service does not only mean a better digital experience for their customers but a more seamless way of working and operating,” he said.
Converge chief operations officer Jesus Romero said the company wanted to provide residents and businesses of Boracay with the best possible experience through fast, reliable, consistent and affordable digital solutions.
“With world-class fiber broadband connectivity, we assure you, Boracay will be a paradise reborn,” he said.
The hospitality industry is expected to be the biggest beneficiary of the company’s arrival as the island braces for the surge of local and international tourists after the lifting of pandemic restrictions and the abrupt government-imposed seven-month closure to rehabilitate the island.
Converge ICT reported a net income of P7.43 billion last year, up by 4 percent from P7.15 billion in 2021.
Consolidated revenues grew by 27 percent to P33.69 billion in 2022 from P26.47 billion in 2021.
The company ended last year with a total of 1.88 million residential subscribers.
Enterprise revenues also grew by 26.4 percent year-on-year to P4.23 billion from P3.35 billion, mostly from the strong revenue growth in the small and medium enterprise and wholesale segments.