PLDT INC. on Thursday said it will cut its capital expenditure budget starting next year, as it grapples with the fallout from the P48-billion budget overrun that sparked a sell-off and a probe by regulators.
PLDT INC. on Thursday said it will cut its capital expenditure budget starting next year, as it grapples with the fallout from the P48-billion budget overrun thatcer and President Alfredo S. Panlilio said in a disclosure that a confluence of factors, such as years of underinvestment, heightened competition, and the strong demand forOther factors were “the threat from former President Rodrigo R.
PLDT expects to exceed its P85-billion capex guidance for 2022, as the company hopes to keep its projects, including the hyperscale data center in Sta. Rosa, Laguna, on track. At the same time, the company hopes to pay the balance of the regular dividend for the year estimated at P45 per share, and the remaining special dividend of P42 per share.
It noted PLDT’s balance sheet has been “worn thin from capex and working capital cash drain in the past two years.”
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