SkyCable allots P1B for capex

MANILA, Philippines - SkyCable Corp., the country’s largest cable television operator, is infusing P1 billion worth of capital expenditures next year to further expand its operations and improve its competitiveness.

In an interview with reporters, SkyCable managing director Carlo Katigbak said next year’s budget for capital expenditures is the same as the P1 billion level this year.

Katigbak pointed out that the subscriber base of the company currently stands at 700,000.

He said the company would focus on key cities such as Cavite, Laguna, and Davao that have low cable industry penetration rate.

“Actually there is a lot of growth this year, we seen a lot of growth in the industry. The biggest difference is we are moving to digital,” he explained.

There are about three million cable subscribers in the Philippines.

The growth, according to him, is coming from low price packages being offered by the company to its subscribers.

In the middle of the year, SkyCable announced the P3.5 billion sale and transfer deal inked with the cable TV, broadband

Internet and direct-to-home pay-TV units of the Solid Group Inc.  of the family of businesswoman Elena Lim.

These provided Destiny Cable subscribers with the benefits of digital cable technology that is already being utilized by SkyCable.

Katigbak said the company has no current plans to acquire more television cable providers.

 “No we don’t have any plans right now, our focus is on growing penetration in our existing areas,” he stressed.