Globe is PH’s Most Valuable Phone Company Amidst Digital Solutions Platform Pivot
Manila, Philippines, October 27, 2021 / PRNewswire / – Globe established itself as the country’s largest telecommunications company in October of this year. Its market capitalization on the Philippine Stock Exchange (PSE) hits a record high P456 billion in the middle of its pivot to become a digital solutions platform.
Globe’s share price last hit an all-time high of 3410 P October 6. This reflects a 69% jump since the start of the year compared to P2 018 last year. January 4th.
The strong increase in the share price reflects investor confidence in Globe’s growth prospects in the coming years. The company is not only committed to improving its network and offering better products and services, but it is also expanding in the area of ââtechnological solutions.
âTelecommunications will continue to be our core and most important business, but we now see ourselves as a digital platform that builds one business on top of others. We will continue to improve our telecommunications business and keep an eye on maintaining our number position we are highly competitive in the fixed line sector and are expanding our services to other areas of technology and digital solutions â , said Ernest Cu, President and CEO of Globe.
Globe goes beyond telecommunications and is now actively expanding its healthcare technology, advertising technology, education, financial technology and e-commerce businesses. Analysts believe these new businesses, especially GCash, will continue to bring great value to Globe in the future. They also expect Globe’s share price momentum to continue.
Investors have picked up telecom stocks in recent months amid massive demand for data-related services. During the pandemic, more and more Filipinos have reaped the benefits of digitization due to the switch to work-from-home and distance-learning devices.
GCash is on track to triple its gross transactions to P3 trillion this year around P1 trillion last year, making it the undisputed market leader in electronic wallets in The Philippines. It has 48 million registered users, three million digital touchpoints, more than 700 billers and 69,000 collection and withdrawal agents across the country. GCash is operated by Mynt, Credit Suisse’s only Filipino startup South East Asia 35 list of unicorns.
Besides GCash, Globe’s corporate builder, 917Ventures, has several other portfolio companies under its wing. These are telehealth companies KonsultaMD and HealthNow, digital marketing solutions company AdSpark, online grocery platform PureGo, and loyalty and e-commerce solutions provider RUSH.
917Ventures also helps with innovations such as the EdVenture e-learning platform, the FanLife online marketplace, the now paid online study bootcamp KodeGo, the A2P M360 messaging platform, the BentaTV online sales and the Inquiro self-service dashboard.
Globe is also expanding its information technology solutions through the Electronic Commerce Payments Inc. (ECPay) multiple payment platform and its corporate venture capital arm, Kickstart Ventures.
To ensure that its network can meet the demand for digitization, Globe has planned an unprecedented program P76 billion for its capital spending this year to meet the connectivity needs of Filipinos and provide the country with a leading global network.
Globe strongly supports the United Nations Sustainable Development Goals (United Nations SDGs), in particular United Nations SDG 9, emphasizing the role of infrastructure and innovation as key drivers of economic growth and development. Globe is committed to respecting the principles of the United Nations Global Compact and contributes to 10 United Nations SDGs.
To learn more about Globe, visit www.globe.com.ph.
Globe Newsroom: https://www.globe.com.ph/about-us/newsroom.html
Twitter: @ talk2GLOBE Facebook: http://www.facebook.com/globeph
SOURCE Globe Telecom, Inc.