The STAR learned from highly-placed sources that Uy is determined to save Sky Cable from the risk of bankruptcy, and his long game for the company is to turn it into a subsidiary of Converge ICT Solutions Inc.
However, Uy - who admires the household recall of Sky Cable - thinks the company has a lot to do to improve its financial standing, from paying maturing debts to reducing business costs.
Sky Cable owes P4.47 billion to lenders as of September, of which P3.18 billion are due in a year. Likewise, Sky Cable is running on a loss right now, booking a revenue of P4.12 billion while expenses reached P4.93 billion.
Uy said Sky Cable can cut spending by P1 billion a year if it lowers power consumption, removes pole rental and slashes maintenance costs. This is why Uy's brainchild Converge signed a network sharing agreement with Sky Cable in July.
Esta historia es de la edición November 18, 2024 de The Philippine Star.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición November 18, 2024 de The Philippine Star.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Itinerant Objects, Here and Elsewhere
Platforms
Converge keen on Sky Cable buyout
Tech tycoon Dennis Anthony Uy plans to buy out Sky Cable Corp. and capture its more than 300,000 subscribers as soon as the company succeeds in erasing its over P4 billion debts.
MARCO ORTIGA MAKES WAVES WITH OLD BOATS
If you close your eyes and listen past the cocktail chatter at Vinyl on Vinyl, you might pick up the circular creaking of boats or the rhythmic splash of waves in a Capiz harbor.
What to expect from Chelsea Manalo as 1st Miss Universe Asia
Chelsea Manalo may have finished as a Top 30 semifinalist in Miss Universe 2024, but she made history as the first Miss Universe Asia after the 73rd coronation night in Mexico.
At the Visayas Art Fair, abstract art radiates
Arcadia Art Gallery opens \"My Universe,\" a solo exhibition by Dale Bagtas, at this year's Visayas Art Fair (VAF), the premier art gathering in the South.
From L.A. to New Orleans: Swiftie daughter relives 'Eras' effect
Alexa and I boarded a 6 p.m. flight to New Orleans, and to our surprise, the plane was filled with Swifties! It was easy to tell—everyone (including us) was decked out in \"Eras\" merchandise or sporting friendship bracelets.
GARY V RETURNS TO WHERE IT ALL BEGAN
MANY PEOPLE THOUGHT the three-night concert of Gary Valenciano last April and May at the Mall of Asia (MOA) Arena was the last of his performances in major venues.
'Rice farm mechanization level to hit 3 hp/ha by 2031'
The average mechanization level of the country's rice farms could hit three horsepower per hectare (hp/ha) by 2031, improving the sector's productivity while reducing labor costs, the Philippine Center for Postharvest Development and Mechanization (PhilMech) said.
Breeding ground for innovators, entrepreneurs takes act to New York
Spain-based IE University, a highly diverse academic institution that offers a unique learning system to shape future leaders with a global vision, an entrepreneurial mindset and deep respect for sustainability, has expanded into the US, bringing its game-changing act to the financial capital of the world.
Gokongwei lands prestigious award for business excellence
Tycoon Lance Gokongwei, president and CEO of conglomerate JG Summit Holdings Inc., has been recognized for his leadership and immense contributions to the Southeast Asian business landscape.
