Not just a power company: MVP to transform Meralco into a world-class Internet firm

MANILA, Philippines - Manuel V. Pangilinan is aiming to transform Manila Electric Co. (Meralco) into a world-class Internet company and not just a power firm.

“The vision for Meralco is not just a power company but an Internet company with a power business,” said Pangilinan, chairman of Meralco and mobile giants PLDT and Smart Communications, among other companies.

Pangilinan said he wants Meralco to respond to the changing business landscape in the Philippines as the country moves toward a digital future.

“That’s the long-term plan. It’s still a power company but we’re trying to make our company be more Internet savvy,” Pangilinan said.

Pangilinan’s plan comes on the heels of PLDT’s joint venture with German technology startup incubator Rocket Internet, signed last year, aiming to create and develop online businesses in the Philippines.

PLDT, through its wireless arm Smart Communications Inc. invested an initial P1.54 billion for a 33.3 percent stake in a joint venture company with Berlin-based Rocket.

“At PLDT, we are firmly committed to paving the way for the country’s digital future. We have already built the Philippines’ most extensive Internet infrastructure,” PLDT president and chief executive officer Napoleon Nazareno said, announcing the deal last month.

PLDT said that Asia Pacific Internet Group – 50 percent owned by Rocket Internet – would have a 66.7 percent in the new joint venture company to be called Philippine Internet Group.

It aims to launch new Internet-based companies and is expected to drive the activities of existing online companies like Lamudi, Carmudi, Clickbus and Pricepanda, all of which are already operating in the Philippines, PLDT also said.

In a separate interview, Meralco senior vice president and head of Customer Retail Services & Corporate Communications Al Panlilio said that as a company with an e-commerce platform, Meralco would enable its customers to pay their electricity bills online with their mobile phones from anywhere they are instead of going to the banks to pay their bills.

“Eventually the Internet plays a big role in all our businesses. if you are not on the Internet, it can be a major threat. Internet can become your main medium. If you know Sillicon Valley before, the non brick and mortar companies, grew so fast,” Panlilio said.