PLDT Inc. took a shock to the system on Friday–the telecom giant discovered an unprecedented overload in expenditures totaling up to P48 billion, requiring investigation and major restructuring of its management. Bracing itself for uncharted waters, PLDT is ready to navigate any stormy seas that may come its way!
PLDT has made an impressive commitment to its customers by investing a whopping P379 billion from 2019 to 2022. These investments are going towards meeting the company’s goals – namely, improving customer service for all those who rely on them. This was disclosed yesterday at the Philippine Stock Exchange.
The telco’s massive capital expenditure came with a hefty price tag – an eye-watering P48 billion overrun. That’s 12.7% more than what was originally budgeted over four years!
PLDT’s internal forensics have revealed that, so far, no sketchy dealings or evidence of loss has turned up in the CAPEX spending. Nevertheless, this investigation is still ongoing with a view to reconciling discrepancies and cutting back on budget overruns.
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