MANILA, Philippines — Despite high demand for mobile network from people working from home, earnings of the telco duopoly are seen to end the year “relatively flat” as expansion plans to cover more subscibrers grind to halt due to quarantine restrictions, Fitch Ratings said Tuesday. “Fitch expects strategic execution to take (center) stage amidst the pandemic challenges, as incumbent operators strive to boost revenues,” the debt watcher said. That said, telco firms are still bracing for a tough year ahead, slashing down record-high capital investments for 2020. Investments were slashed with cash flows getting tight, partly also as a result of mandated bills payment extensions and installment programs offered by telco companies during the quarantine, Fitch said. Editor's Note: A unit under PLDT's media conglomerate has a majority stake in Philstar Global Corp., which runs Philstar.com.

Source: Philippine Star June 09, 2020 09:00 UTC