Globe Telecom Inc. said on Monday it has signed an agreement with Skytowers Infra Inc. for the lease of towers in Southern Luzon.
Ernest L. Cu, the president of Globe Group, said the deal he signed with Skytowers CEO Theerachai Leenabanchong involves the lease of “several towers,” an initiative that is in line with the telco’s strategy of monetizing passive assets.
“This partnership represents an important step in improving digital infrastructure in the Philippines, and we are excited to work with Skytowers to bring sustainable solutions to the market. We look forward to further strengthening our relationship with Thailand in this venture and other areas of collaboration.”
Skytowers is currently reducing its carbon footprint by using renewable energy to lessen fossil fuel consumption.
Cu noted that the partnership is a “testament to the strong relationship between the Philippines and Thailand and their commitment to promoting economic growth and development.”
As this developed, Globe and Skytowers are now “exploring the possibility of expanding the latter’s tower lease in the Visayas and Mindanao areas.”
Skytowers is affiliated with Thai firm Electric Power and Telecommunication Infrastructure (STOWER), which has extensive experience in engineering, design and manufacturing of infrastructure build.
It offers telecom services and T3 Technology for broadband/Fiber optic solutions in markets such as Thailand, Malaysia, Vietnam and Indonesia. Former Ambassador of Thailand to the Philippines Thanip Upatising is the firm’s Chairman of the Board.
Globe reported that it booked a net income of P26.5 billion in January to September 2022, a 48-percent rise from P18 billion the year prior. This was driven mainly by a 3-percent increase in revenues to P118 billion as well as the P8.4 billion one-time net gain from the sale of its data center business and the P1.4 billion sale-and-leaseback transaction of its tower assets.
Its core net income—which strips off the impact of non-recurring charges, and foreign exchange and mark-to-market charges—stood at P16 billion for the period.
Globe’s mobile data business continued to take the lion’s share of the revenue pie, reaching a record P62.5 billion from P57.9 billion, as Filipino consumers used 3,365 petabytes of data from January to September.
Its home broadband business, meanwhile, slipped further to P20.5 billion from P22.4 billion, despite the continued migration of copper customers into fiber.