Converge eyes 'slightly' higher 2022 capex compared to 2021

ABS-CBN News

Posted at Dec 29 2021 12:07 PM

MANILA - Converge ICT Solutions Inc on Wednesday said its capital expenditure for next year could be slightly higher compared to the 2021 spending program.

In a disclosure to the stock exchange, the pure fiber broadband provider said it " expects its capital expenditures for FY2022 to be slightly higher than the capex of P25 billion programmed for FY2021" as it continued its our network expansion activities.

Converge earlier said it has finished connecting the fiber backbone in Visayas and Mindanao.

The company led by Dennis Anthony Uy earlier said it aims to connect 55 percent of homes nationwide by 2025. 

It also earlier said it installed an emergency satellite broadband to connect the command center in Siargao to support relief operations for the victims of typhoon Odette. 

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