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PLDT

#2513

Rank

$5.9B

Marketcap

PH Philippines

Country

PLDT
Leadership team

Mr. Alfredo S. Panlilio (Pres, CEO & Director)

Ms. Anabelle Lim Chua (Sr. VP, CFO & Chief Risk Management Officer)

Ms. Melissa V. Vergel de Dios (First VP, Head of IR, Head of Corp. Sustainability Office & Chief Sustainability Officer)

Products/ Services
Mobile, Telecommunications
Number of Employees
1,000 - 20,000
Headquarters
Makati, Manila, Philippines
Established
1928
Company Registration
SEC CIK number: 0000078150
Net Income
500M - 1B
Revenue
Above - 1B
Traded as
PHI
Social Media
Overview
Location
Summary
PLDT Inc. provides telecommunications and digital services in the Philippines. It operates through three segments: Wireless, Fixed Line, and Others. The company offers cellular mobile, Internet broadband distribution, operations support, software development, and satellite information and messaging services; and sells Wi-Fi access equipment. It also provides fixed line telecommunications services; business infrastructure and solutions; intelligent data processing and implementation, and data analytics insight generation services; and information and communications infrastructure for Internet-based services, e-commerce, customer relationship management, and information technology (IT) related services. In addition, the company offers managed IT outsourcing, Internet-based purchasing, IT consulting and professional, bills printing and other related value-added, and air transportation services; distributes Filipino channels and content services; and provides full-services customer rewards and loyalty programs. Further, it engages in the sale of mobile handsets, broadband data routers, tablets, and accessories, as well as provides domestic leased lines and alternative messaging solutions, such as over-the-top services, social media, and messenger application. As of December 31, 2021, it had 71,221,952 mobile broadband subscribers; 3,619,372 fixed line subscribers; and 2.8 million broadband subscribers. The company was formerly known as Philippine Long Distance Telephone Company and changed its name to PLDT Inc. in July 2016. PLDT Inc. was incorporated in 1928 and is headquartered in Makati City, the Philippines.
History

GTE era

PLDT was established on November 18, 1928, by a Philippine Government act. Philippine legislature and approved by then governor-general Henry L. Stimson by means of a merger of four telephone companies under operation of the American telephone company GTE. Known as Act 3436, the bill granted PLDT a 50-year charter and the right to establish a Philippine telephone network linking major points nationwide. However, PLDT had to meet a 40-day deadline to start implementing the network, which would be implemented over a period of one to four years.

By the 1930s, PLDT had an expansive fixed-line network and for the first time linked the Philippines to the outside world via radiotelephone services, connecting the Philippines to the United States and other parts of the world.

Telephone service in the Philippines was interrupted due to World War II. At the end of the war, the Philippines' communications infrastructure was in ruins. U.S. military authorities eventually handed over the remains of the communications infrastructure to PLDT in 1947, and with the help of massive U.S. aid to the Philippines during the 1940s and 1950s, PLDT recovered so quickly that its telephone subscribers outpaced that of pre-war levels by 1953.

Ramon Cojuangco Era

On December 20, 1967, a group of Filipino entrepreneurs and businessmen led by Ramon Cojuangco took control of PLDT after buying its shares from the American telecommunications company GTE. The group took control of PLDT's management on January 1, 1968, with the election of Gregorio S. Licaros and Cojuangco as chairman and president of PLDT, respectively. A few months later, PLDT's main office in Makati was opened, and PLDT's expansion programs begin, hoping to bring reliable telephone services to the rural areas. It was also during that time that PLDT was able to use Intelsat II F-4 communications satellite to beam international events such as the Apollo 8 mission and the funeral of Robert F. Kennedy in 1968.

Martial Law

PLDT was permitted to operate during Martial Law. During the 1970s, PLDT was nationalized by the government of then-president Ferdinand Marcos and in 1981, in compliance of then existing policy of the Philippine government to integrate the Philippine telecommunications industry, purchased substantially all of the assets and liabilities of Republic Telephone Company, becoming the country's telephone monopoly. Under this monopoly, service expansion were severely curtailed or practically nonexistent. In the Martial Law years people would apply for phone service only to wait for years and years on end behind an impossibly long application backlog. It is not unheard of for people and small businesses back then to barter for a single telephone line in the black market for tens of thousands of pesos. The incumbent Singaporean Prime Minister Lee Kuan Yew referred to the situation when visiting the Philippines during the term of President Fidel V. Ramos. He said, albeit in jest, “In the Philippines, 95% of the population has no telephone, while the remaining 5% are waiting for that dial tone.”

Tonyboy Cojuangco Era

After President Marcos was overthrown in 1986, the company was re-privatized and Cojuangco's son, Antonio "Tonyboy" O. Cojuangco, Jr. became chief executive. By 1995, with the passage of the Telecommunications Act and the subsequent deregulation of the Philippine telecommunications industry, the company has been de-monopolized.

In 1992, PLDT partnered with AT&T Corporation to expand its services into rural communities; including USA Direct Roving Van Service, a mobile van equipped with cellular phones, to provide toll service to some previously unserved rural communities; point-to-point international digital leased line service; payphone services; and magnetic prepaid telephone cards. By 1997, the company, through Mabuhay Satellite Corporation, launched the Philippines' first local communications satellite Agila II .

First Pacific Era

In 1998, Hong Kong-based First Pacific Company Ltd. acquired a 17.5% controlling stake in PLDT for approximately P29.7 billion. Following the acquisition by the First Pacific group, Manuel V. Pangilinan became the new president and CEO of PLDT, replacing Cojuangco, who assumed the post of chairman until 2004. An additional investment was added in 2000 through a share-swap agreement; where NTT Communications, a subsidiary of Nippon Telegraph and Telephone, acquired a share in PLDT in exchange for its co-owned wireless telecom company Smart Communications.

PLDT acquired 51.55% of the shares of Digital Telecommunications Philippines from JG Summit Holdings in March 2011 with the cost of ?69.2 Billion. Because of this, the shares of Digitel and JG Summit in the PSE surges while PLDT's shares remained unchanged. In the deal, JG Summit will have a 12% share in PLDT. It was finalized by the National Telecommunications Commission on October 26, 2011. In exchange of the transaction, PLDT's subsidiary Smart Communications surrendered the mobile frequency and spectrum being used by its service Red Mobile to the government, which was finalized in 2016.

In April 2016, the company, then known as the Philippine Long Distance Telephone Company, dropped the "long distance telephone" from its corporate name and was renamed PLDT Inc. Its board of directors approved the new corporate name to reflect on the company's new range of services, mainly focusing on data services. On June 13, 2016, PLDT and its subsidiary Smart unveiled their new logos and identity as part of the company's continuing digital pivot.

Mission
To provide accessible and affordable communication, entertainment and mobility services of the highest quality to Filipino families and businesses.
Vision
To be a world-class digital services provider, leading the country's digital transformation.
Key Team

Attorney Marilyn A. Victorio-Aquino (Sr. VP, Corp. Sec., Head of Legal & Regulatory Affairs and Chief Legal Counsel)

Ms. Catherine L. Yap-Yang (First VP & Group Corp. Communications Officer)

Mr. Alejandro O. Caeg (Sr. VP & Head of Consumer Sales)

Ms. Mary Eleanor Nadal-Wei (VP & Head of Strategic Partnerships and Corp. Devel.)

Ms. Gina Marina P. Ordonez (Sr. VP & Chief People Officer)

Mr. Emiliano R. Tanchico Jr. (First VP, Head of HR Services and Head of concurrent Labor & Employee Relations Center)

Mr. Menardo G. Jimenez Jr. (Sr. VP & Home Head of Consumer Bus.)

Recognition and Awards
PLDT has received a number of awards throughout its history. These include, but are not limited to, the Anvil Award of Excellence, the Asian Customer Service Award, the Golden Globe Tiger Award and the Asia Visionary Award.
References
PLDT
Leadership team

Mr. Alfredo S. Panlilio (Pres, CEO & Director)

Ms. Anabelle Lim Chua (Sr. VP, CFO & Chief Risk Management Officer)

Ms. Melissa V. Vergel de Dios (First VP, Head of IR, Head of Corp. Sustainability Office & Chief Sustainability Officer)

Products/ Services
Mobile, Telecommunications
Number of Employees
1,000 - 20,000
Headquarters
Makati, Manila, Philippines
Established
1928
Company Registration
SEC CIK number: 0000078150
Net Income
500M - 1B
Revenue
Above - 1B
Traded as
PHI
Social Media