I.

INTRODUCTION

A. Brief Background and History of the Company

Philippine Long Distance Telephone Company was incorporated and

given the franchise to establish and operate telephone services in the country

on November 28, 1928, a typhoon had just ravaged Eastern Visayas, Bicol

Peninsula, and Samar. The ability to communicate amongst loved ones and

across the country became crucial. Sadly, phone networks then were like

disconnected intercom systems and you could only call people within your

own small city. Filipinos were disconnected from neighboring towns,

disconnected from friends in the other island and, needless to say,

disconnected from the rest of the world. It was under this scenario that the law

was signed giving birth to PLDT. The first president of PLDT was Theodore

Vail Halsey while Major J.E. Hamilton Stevenot, who represented the

American firm General Telephone and Electronics Corp. (GTE), was elected

executive vice president and general manager.

Under the American owners of PLDT, many small phone companies in

the provinces were acquired by the Company to help speed up the rollout and

connection of these different phone systems all over the country. The

management of PLDT was then set to lay the groundwork towards linking

Filipinos to each other and, more importantly, to the world.

Just a year after PLDT was given its nationwide franchise, the link

between Manila and Baguio was established, making the first national long

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distance calls possible. Overseas radio-telephone service was also

established between the Philippines and the US and other parts of the world

in 1933. The first network of PLDT employed the open-wire system that was

difficult to maintain and vulnerable to rain, winds, dirt, and tampering. Horse-

drawn service vehicles bulky wall-mounted telephones were employed in

those times. PLDT then charged a sum of P7.50 a month.

The war years in the 1940's that followed proved to be devastating to

PLDT as the US armed forces destroyed the PLDT system to prevent the

Japanese from using it in 1941. By the time the Americans regained control,

only 10 percent of the original facilities were operational.

By 1968, a new era of PLDT leadership was ushered in, PLDT finally

became a Filipino-controlled corporation when Ramon Cojuangco and his

group of Filipino industrialists and businessmen bought the controlling stake

of GTE of New York.

It was a symbol of national pride and a moment of triumph for Filipinos.

Under Cojuangco's leadership, PLDT embarked on ambitious expansion

campaigns that led to more Filipinos owning and benefiting from phones.

Several milestones were realized in Cojuangco's time. In the same

year when his group came in, the first major television broadcast via the

facilities of Intelsat II-F4 and PLDT was brought to the Philippines direct from

the US during the funeral of Senator Robert F. Kennedy. Another milestone in

satellite communications was achieved, with PLDT playing a major role, in the

subsequent remote TV coverage of the Apollo 8 flight.

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 Another significant PLDT milestone was the establishment of the

country's first cellular telephone network in 1987. Cellular phones then were

bulky and installed only in cars.

With this new service, people were able to communicate while on the

go. Coverage, just like with the mobile radio-telephone service introduced in

1959, was wider, though still limited compared today. Subscribers then could

make calls within Metro Manila and any place from Cavite to Baguio.

A slew of new services were also introduced beginning 1992. Through

a partnership with American Telephone and Telegraph Co. (AT&T). PLDT

introduced the USA Direct Roving Van Service, a mobile van equipped with

cellular phones, to provide toll service to some previously unserved rural

communities.

Other services introduced were USA Direct Mabuhay (dial access code

105-12) and Fibernet, a point-to-point international digital leased line service

capable of handling simultaneous voice and data transmissions using fiber

optic cables.

Intelligent pay phones, which can accept coins of several

denominations, were introduced. The Fonkard also came into vogue. Fonkard

allowed the caller to make direct-dial national and international long distance

calls through the use of prepaid magnetic telephone cards instead of coins.

A significant milestone that changed the face of communication was

the successful launching of Agila II, the country's first communications

satellite, in 1997 by PLDT subsidiary Mabuhay Philippines Satellite Corp. The

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satellite serves the needs of customers not only in the Philippines but also

other countries within the satellite's footprint in the Asia Pacific region.

With the increasing importance of the Internet, PLDT signed a network

deal with US-based software giant Oracle Corp. to jointly advance the

development of a network computing infrastructure in the Philippines dubbed

Phil-Net. A milestone for PLDT and the development of the Internet in the

Philippines would be the establishment of the country's first Internet hub

called the Philippine Internet Exchange or PhIX.

The late '90's was a time of formidable challenges for PLDT, especially

after the 1997 Asian financial crisis. Inauspicious as it may seem at the time,

however, Manuel V. Pangilinan of Hong Kong-based First Pacific Co. Ltd. saw

a great opportunity in taking control of PLDT.

So on Nov. 24,1998, just four days before the company's anniversary,

PLDT announced the entry of First Pacific which acquired a 17.5-percent

stake in PLDT for approximately P29.7 billion or some $749 million at that

time. The entry of First Pacific brought in a new culture in PLDT and new

enterprise. Manuel V. Pangilinan replaced Antonio O. Cojuangco as president

and chief executive officer. Cojuangco then assumed the position of chairman

of the board.

The following year, PLDT forged a strategic partnership with NTT

Communications Corp (NTTCom), a wholly-owned subsidiary of Nippon

Telegraph and Telephone Corp. of Japan, the world's leading

telecommunications company in terms of revenues. Smart Communications,

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 Inc. (Smart), the country's largest mobile phone operator, was also acquired

by PLDT.

The acquisition of Smart proved to be a wise decision, especially now

that Smart is contributing greatly to PLDT's bottom line, thus buffering the

telecoms giant from the debilitating effects of declining revenues from the

fixed line business.

Other innovative services were introduced: Text 135, the country's first

landline texting service; Premium Phone Services (1-908), which employed

strategic tie-ups with TV game shows; Budget card for international calls; and

bundling of value-added phone services such as Call Waiting, Call

Forwarding, 3-party conference calls, Speed Calling, and Caller ID.

In 2004, the PLDT Board of Directors appointed Manuel V. Pangilinan

to the position of Chairman of the Board while retaining his post as Chairman

of the Board of Smart and ePLDT. Napoleon L. Nazareno is the concurrent

President and CEO of PLDT and Smart.

It's all part of PLDT's culture of innovation to bring its operations to

world-class standards and become the best telecommunications company in

the region. Today, PLDT leads the wireless race, dominates the landline

domain, operates the premiere satellite company, and has raced to the #1

position in the Internet world, both broadband and narrow band. No doubt,

PLDT is set to conquer whatever the future holds for the telecommunications

industry.1

1 (PLDT, Company Timeline | Enabling the Nation)

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 B. Ownership Structure

Figure 1.0

C. Board of Directors and Management

Corporate Governance in PLDT is shaped by governance structure and

values. These are embodied in two fundamental policies. Their corporate

governance structure entrusts authority and resources for the performance of

corporate functions and delineates responsibilities for the exercise of such

authority.2

2 (PLDT, Governance Strucure)

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PLDT’s Governance Structure

Figure 2.0

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Manuel V. Pangilinan

Director of PLDT since November 24, 1998 and Chairman of the

Governance and Nomination, Executive Compensation and Technology

Strategy Committees. Mr. Pangilinan was appointed as Chairman of the

Board of Directors of PLDT after serving as its President and Chief Executive

Officer from November 1998 to February 2004. Effective January 1, 2016, he

concurrently holds the position of President and Chief Executive Officer of

PLDT and Smart Communications, Inc. (Smart). He also serves as Chairman

of Metro Pacific Investments Corporation (MPIC), Manila Electric Company

(Meralco) and Philex Mining Corporation and Vice Chairman of Roxas

Holdings, Inc., all of which are PSE-listed companies, and of several

subsidiaries or affiliates of PLDT or MPIC, including, among others: Smart,

Digitel Mobile Philippines, Inc., Digital Telecommunications Phils., PLDT

Communicatinos & Energy Ventures, Inc., Beacon Electric Assets Holdings

Inc. (Beacon), Manila North Tollways Corporation, Maynilad Water Services

Corporation (Maynilad), Landco Pacific Corporation, Metro Pacific Hospital

Holdings, Inc., Medical Doctors Inc. (Makati Medical Center), Colinas Verdes

Corporation (Cardinal Santos Medical Center), Davao Doctors Incorporated,

Riverside Medical Center Incorporated, Our Lady of Lourdes Hospital and

Asian Hospital Incorporated. He is also the Chairman of MediaQuest Holdings

Inc. (MediaQuest), Associated Broadcasting Corporation (TV5) and PLDT-

Smart Foundation.

Mr. Pangilinan founded First Pacific Company Limited (First Pacific), a

Hongkong Stock Exchange-listed company, in 1981 and served as Managing

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Director until 1999. He was appointed as Executive Chairman until June 2003,

when he was named as Chief Executive Officer and Managing Director.

Within the First Pacific Group, he also holds the position of President

Commissioner of P.T. Indofood Sukses Makmur Tbk, the largest food

company in Indonesia.

Outside the First Pacific Group, Mr. Pangilinan is the Chairman of the

Board of Trustees of San Beda College and the Hong Kong Bayanihan Trust,

a non-stock, non-profit foundation which provides vocational, social and

cultural activities for Hongkong’s foreign domestic helpers. He is the

Chairman of Philippine Business for Social Progress, the largest private

sector social action organization made up of the country's largest

corporations. He is a Co-Chairman of the Philippine Disaster Resilience

Foundation, Inc., a non-stock, non-profit foundation established to formulate

and implement a reconstruction strategy to rehabilitate and rebuild areas

devastated by floods and other calamities, and of the US-Philippine Business

Society, a non-profit society which seeks to broaden the relationship between

the United States and the Philippines in the areas of trade, investment,

education, foreign and security policies and culture.

Mr. Pangilinan graduated cum laude from the Ateneo de Manila

University, with a Bachelor of Arts Degree in Economics. He received his

Master’s Degree in Business Administration from Wharton School of Finance

& Commerce at the University of Pennsylvania, where he was a Procter &

Gamble Fellow. He was conferred a Doctor of Humanities Degree (Honoris

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Causa) by the San Beda College (2002), Xavier University (2007), Holy Angel

University (2009) and Far Eastern University (2010).

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II. ANALYSIS OF COMPANY’S DATA

A. Financial Analysis

Table 1.0

2019 2018
Liquidity Ratios (Projected) (Projected) 2017 2016 2015

Current Ratio 0.6x 0.6x 0.6x 0.5x 0.6x

Quick Ratio 0.6x 0.6x 0.5x 0.5x 0.6x

As presented in the three years historical current ratio and quick ratio

shown in the financial analysis of PLDT (0.6x, 0.5x, and 0.6x), the firm does

not shows ability to cover its current liabilities with its current assets.

Therefore, based on the firm’s historical current and quick ratio, the expected

ratio for the next year is in the average of the historical data since it has not

moved or changed significantly.

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Table 2.0

2019 2018
Leverage Ratios (Projected) (Projected) 2017 2016 2015

Total Debt / Equity 154.5% 159.1% 168.9% 178.3% 148.6%

Total Debt / Assets 39.3% 38.9% 39.2% 40.6% 36.9%

LT Debt / Total Capital 58.0% 56.0% 54.9% 50.4% 51.0%

The total debt-equity ratio of the firm shows that in the recent data

shown (2017), the firm is 168.9% financed by debt. In the same year, the firm

has 39.2% assets that are supported by debt financing. The firm has also

54.9% total capitalization which shows the relative importance of long-term

debt to the long-term financing of the firm.

Table 3.0

2020 2019
Coverage Ratios (Projected) (Projected)
2018 2017 2016 2015

EBIT Interest
coverage 2.8x 2.5x 2.0x 1.7x 3.4x 5.9x

In the most recent data, the firm can cover interest charges up to 1.7x

from its earnings before income taxes. This shows a good sign since the firm

has borrowings as well and it is good to identify if they will be able to pay

interest charges associated to that.

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Table 4.0

2019 2018
Activity Ratios 2017 2016 2015
(Projected) (Projected)

Receivable Turnover 6.0 6.0 5.5x 6.7x 6.33

Avg. Collection Period 79 days 79 days 66 days 54 days 58 days

Inventory Turnover 19.8 19.8 19.17 19.67 19.5

Total Asset Turnover 0.38 0.38 0.34 0.35 0.38

Based on the most recent financials of PLDT, receivable turnover of

the firm is 5.5x,6.7x, and 6.33x respectively. Average collection period are 66,

54, and 58 days respectively.

Table 5.0

Profitability 2019
2018 2017 2016 2015
Ratios (Projected)

Gross Margin 94.9% 92.9% 54.0% 50.3% 52.6%

EBITDA Margin 41.5% 41.3% 41.4% 37.8% 41.8%

EBIT Margin 18.6% 17.4% 8.7% 16.4% 22.8%

Pretax Margin 17.4% 17.4% 7.3% 12.6% 13.7%

Net Margin 13.1% 13.7% 8.4% 12.1% 12.9%

ROA 4.7% 4.8% 2.9% 4.3% 4.9%

ROE 18.3% 19.7% 12.4% 18.0% 17.8%

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 For the year ended 2015, 2016, and 2017, the gross margin of the firm

is at 54%, 50.3%, and 52.6% respectively. The firm also has 8.4%, 12.1%,

and 12.9% net margin.

B. Historical / Behavioral Analysis (include stocks behavior which

could be daily, weekly, monthly or yearly)

Table 6.0

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Table 7.0

C. Industry Analysis

Customer Analysis

Businesses, school and individuals are mostly the customer of the

products of service that is offered by PLDT. Businesses need internet

connection or other computer-generated products to be able to communicate

well with their customers, investors and shareholders. While school also

needs internet connection to help the students, whenever they are doing

research and such. Individuals like workers, student, man, woman also uses

PLDT’s telephone service that helps them communicate with one another,

and it also provide faster communication form people living abroad.

PLDT is the first in the telecommunication company who introduced an

expansive fixed line network that reached United States and other parts of the

world. PLDT is known to be the leading telecommunication digital services

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provider in the Philippines that started operating since 1928. With their long

existence in the telecommunication industry helped them by gaining the trust

and loyalty of the customers. It is considered as the pioneer in this type of

industry whether be it from different places.

PLDT is also known for their state of the art facilities and data center

which costs more than a billion peso. Technically almost all of the data of their

customers and its products is in the said data center that’s why it’s really

important for the company. The data center caters the “colocation and other

data center service requirements of large corporations, and the banking and

finance companies with headquarters in the business district.” According to

ePLDT Coo Nerisse Ramos “We have always been committed to investing in

and expanding our data center business not only in building world-class

facilities adhering to global standards but also in offering globally recognized

services from colocation, hosting platforms, network and security services to

big data dynamic platform. Proof to our commitment is our investment on the

training and expertise certification for our personnel, to provide our enterprise

customers with best-in-class service experience.”

When applying to PLDT’s service, all you have to do is fill up their form

in their website or you can call them. However, once you filled up the form

there comes the problem with installing the product because of the amount of

customers requesting for it. Having skilled workers can increase the

efficiency, quality and productivity of the service. The operations manager

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must handle these situations fully. They should always reach customers

satisfaction and must have capacity utilization per each type of product.

Competitor Analysis

a. Market Size

Telecommunication companies are important nowadays because it is

the key that helps people to communicate with one another. It is important for

everyone because of the purpose that it transmits data by internet, telephony,

video conferencing, instant messaging, email and etc. It also helps a business

to grow more innovatively.

Philippine Long Distance Telephone Company is still the largest

company together with its subsidiary, SMART, in the telecommunication

industry in the country. Being the largest, PLDT holds the highest market

share with Globe as its competitor.

b. Number of Players in the Market

The telecommunications industry in the Philippines particularly the

mobile service market is dominated by two (2) major players, namely

Philippine Long Distance Telephone Co. (PLDT) and GLOBE Telecom.

These two big mobile service providers – PLDT and GLOBE Telecom,

contributes a lot in the gross domestic product (GDP) of the Philippines.

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c. Factors Affecting Costs of Doing Business

Filipinos are really passionate in doing business, it doesn’t matter if it is

small business or large. Passion is what makes them decide on doing it, and

of course the need of money. And starting a business requires a lot. Patience,

effort, determination, commitment and, of course, money.

d. Technology Developments

PLDT recently partnered up with Netflix which is an multinational

provider of on-demand movies that can be watched via internet streaming

media, because of this ““We recently increased the speeds of all Fibr plans

while we continuously deploy more LTE sites for wider coverage in

anticipation of customers’ growing appetite for bandwidth heavy apps like

video streaming,” PLDT and Smart EVP and Consumer Business Group Head

Ariel P. Fermin said.”

e. Critical Success Factors in the Industry

 Financial Position

It is the main factors of success, because it shows the financial

soundness of a company. Financial Position is very important to every

business because this can determine the company’s profitability and can help

managers in making important decisions.

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  Network Coverage

One of the factors is a wide network coverage area of each company. It must

be able to reach provinces and remote areas.

 Product Quality

Product Quality is very important to keep a customers from patronizing your

products. They should give an excellent product quality to be able to keep

loyal customers. Excellent quality will win every customers heart.

 Customer Service

They should give their customer a good service because it can help build up

loyalty for their products. Having a good customer service quality will make

customers happy. A successful business has happy customers. Although it’s

only a customer service they should always serve their customers by giving

their best shot.

 Competitive Price

They should offer prices that match with the quality of their service and

products; they should be able to present a competitive price for a products or

services that is essentially worth buying.

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  Customer Loyalty

One of the biggest factors of the business is to keep their customers. Loyal

customers are the ones that will patronize all the products to be offered by the

business. It can help the company to be more reliable and to improve their

products for the customers that patronize them.

 Maintenance and Repairs

Maintenance and repairs is important especially when customers encountered

a problem using their products. Maintenance and repairs will be assisting the

customers experiencing problems with the products they purchased. Having a

good maintenance and repairs can help customers build up trust to their

products.

Climate

PEST Analysis

Political and Legal Aspects

• The Senate Bill 2238 will help PLDT achieve their set goal or it can do

much better than expected. Who wouldn’t want a fast internet right? Even

though PLDT has one of the fastest internet connections, many people will be

happy for a more improve internet. And if the company has it, they can have a

lot people subscribe to them.

• Information and communication technology (ICT) is a vast field

encompassing virtually all technologies that can store, receive or transmit

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signals electronically. ICT is a wide range of new communications, and it is

good to the company but ICT will also be hard because it can give a personal

detail to others which can result to losing money, or worse a reputation.

Changes in Environment

• PLDT is affected with the different changes in technologies happening

in environment. When the technologies changes, PLDT also changes.

Nowadays, almost all person have their respective phones. So the demand on

the market for making a mobile phone or telecommunications is high.

Socio-cultural Changes

• Telecommunications is a way of life. Telecommunications affects how

and where you do everything—live, work, play, socialize, entertain, serve,

study, teach, rest, heal, and protect. Telecommunications has served a critical

role in shaping society and culture, as well as in shaping business and

economics.

• Technology supports not just the needs of a business enterprise, but

also those of the consumers. The revolution in integrated media is

transforming all aspects of human activity related to communication and

information.

• By the use of internet, social networks are increasingly being used by

teachers and learners as a communication tool.

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• Teachers create chat rooms, forums and groups to extend classroom

discussion to posting assignments, tests and quizzes, to assisting with

homework outside of the classroom setting.

• The availability of social media technologies and services, content

sharing and user interaction has become relatively easy and efficient by the

use of internet.

Technological Developments

• Netflix has become a widespread streaming application and was

already welcomed by PLDT. They already started offering unlimited packages

for Netflix Chromecast, however this can be an opportunity for PLDT to

partner up with different television brand maker to be able to optimize and

innovate the use of Netflix.

• With the Philippines undergoing a digital transformation in almost all

sectors, Filipino freelancers are learning to make smarter use of their

available resources to gain more reliable Internet access. This is in light not

only of the sluggish Internet speed, but also of the occasional typhoons and

power outages that cause interruptions for several hours, even days.

• As the Philippines continues to encounter a slow internet connection is

one of the reasons for PLDT to make a new product or service that will help

solve this issue. This is an opportunity for PLDT to be the first

telecommunication company to be able to give a fast internet connection while

other companies can’t. This can also help them to build more company

confidence by its continuous fast connection.

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SWOT Analysis

Strengths

1. Widely Known Brand Name. An instrument that the company (SMART)

will be able to differentiate its product/service offerings to competitors. It is no

doubt that everyone knows the brand name of this networks.

2. Cutting-edge fiber-optics technology (e.g. 3G, 4G, LTE). Because of

technology innovations and re occurring development, the factors of having

huge demand for new mobile services such as 3G, 4G, and LTE, smart

communications and other competitors are expanding their play by offering

these cutting-edge fibre-optics services to cater the demand of their markets.

3. High Growth Rate. The growth rate of the telecommunication industry in the

Philippines is considered high.

4. Huge Demand of Telecommunication subscribers. The demand for

telecommunication products and services is considerably high in the

Philippines. According to the International Telecommunications Union (ITU),

the United Nations specialized agency for information and communication

technologies, as cited in the online article alliance.com.ph (2014), there were

87.3 million mobile subscribers in the Philippines

5. Wide range of product services. Strong technology adaptation

6. Diversified Business Operations across the telecommunication domain

7. Advanced Integrated Network helping to provide better services

8. Over 18,000 people form the backbone of the workforce

9. Total mobile, broadband and other service subscriber base is

approximately 100 million

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Weaknesses

1. Poor Telecommunication Infrastructure. The infrastructure needed by

telecommunication companies entails huge amount of investment. One of the

sad facts about telecommunication infrastructure in the Philippines is its slow

internet connection, a service also provided by the two players in the market.

Over dependence on a smaller market without huge global operation

2. Too much resources can be hard to maintain

3. Outdated technology

Opportunities

For the opportunities, having strategic partnerships across the

geographies for growth can help PLDT maintain and improve their market

position in the Philippines. For the threats, the Rapid Technological Changes

needing constant strategic changes because technology changes rapidly

nowadays with this kind of rapid change some or maybe all strategies of

PLDT will be affected.

1. Strategic Partnerships across the geographies for growth

2. Network Expansion helping to serve wider number of customers

3. Growing demand for Wireless services in Philippines

Threats

1. Regulation of the Telecommunication Industry by National

Telecommunication Commission (NTC) In the Philippines, the government

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through NTC regulates the telecommunication industry. The heavy regulation

imposed by NTC means a major threat for telecommunication companies.

2. Intense Competition causing margin pressures

3. Rapid Technological Changes needing constant strategic changes

4. Currency Fluctuations impacting foreign revenues

Market Analysis

Segmenting

Prospect customer segments for PLDT include those who are included

in the business type category and residential type. When dealing with

residential customers, PLDT should be interested in the individual, in the

person using the service and paying from his/her own wallet; or from mom’s

or dad’s, but not from a company budget. There are several approaches

PLDT may use to segment its customer base. They may all work fine in

different business environments. They may have two or more segmentation

platforms at the same time (often one is considered more strategic and the

other one more operational/tactical).

Targeting

Three major ways to segment residential customers are value,

behavior, and life cycle. Value is how much profit the consumer ultimately

makes for the company, and becomes a measure of how much effort a

company should put into gaining and retaining a consumer, as the top ten

percent of customers tend to generate. Information and communications

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technology sectors, as well as the operation of data center, customer

interaction solutions and knowledge processing solutions business and serves

all customer categories

Positioning

It offers the largest and most diversified range of telecommunications

services across the country through its three principal business groups,

namely: Fixed Line, Wireless, and Information and Communication

Technology. The company uses the most extensive fiber optic backbone and

fixed line, cellular and satellite networks to provide the best services for their

consumers.

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 III. RECOMMENDATION

Philippine Long Distance Company being the leading

telecommunications and digital service provider in the Philippines, is one of the

largest market capitalizations among publicly listed companies in the Philippines.

With that being said the shares of stocks offered by PLDT, which is listed as TEL in

the Philippine Stock Exchange, is considered as one the blue chip stocks offered in

the financial market.

Based on my further assessment and review of the financial reports presented

by PLDT for the year ended 2017, since the financials for the year ended 2018 has

not yet been released, as an investor I will still choose to invest and retain my

investments in PLDT but with reservations. If one chose to place his/her money in

the stock market in particular in the stocks of PLDT, one should continue monitor the

market. Reviewing quarterly financial assessments will help a lot specially when

running a report on financial ratios. This will help an investor determine whether

certain investments or stock are to be bought, pulled out, or retain.

In the case of PLDT, by looking into its financial reports, the company has a

stable financial condition and with plans for expansion. This is why I chose to retain

my investments with them with reservations. My reservation will include me

monitoring the market closely, especially now that there are other players that intend

to enter the telecommunications industry. I will also take initiative in making myself

always well-aware of the different current events especially news about the third

telecommunications industry player.

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IV. ATTACHMENTS

Financial Statements

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Ownership Summary

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Price Summary

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Competitors

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 V. REFERENCES / CITATIONS

Bibliography
Arpista, J. C. (n.d.). The Smart Communication and PLDT Inc. Public Relations Research Study:
Welcome Change. Retrieved from Public Relation Com:
https://publicrelationcom.wordpress.com/2016/07/27/marketing-strategies-of-smart-and-pldt-inc/

Desiderio, L. (2016, June 14). A new day unfolds for PLDT, Smart. Retrieved from phil star Global:
https://www.philstar.com/headlines/2016/06/14/1592820/new-day-unfolds-pldt-
smart#u0uEay7l6cOb2O4a.99

PLDT. (n.d.). Company Timeline | Enabling the Nation. Retrieved from PLDT:
http://www.pldt.com/corporate-governance-in-pldt/governance-structures

PLDT. (n.d.). Governance Strucure. Retrieved from PLDT: http://www.pldt.com/corporate-

governance-in-pldt/governance-structures

PLDT. (n.d.). Shareholding Structure. Retrieved from PLDT: http://www.pldt.com/investor-

relations/shareholder-information/shareholding-structure

TESDA. (n.d.). LABOR MARKET INTELLIGENCE REPORT. Retrieved from

https://www.tesda.gov.ph/uploads/File/Planning2013/Hot%20skills%20for%20Hot%20jobs_final.pdf

Touré, D. H. (n.d.). The Economic Impact of Broadband in the Philippines. Retrieved from ITU:
https://www.itu.int/ITU-D/treg/broadband/BB_MDG_Philippines_BBCOM.pdf

Zolla, J. (2012, November 18). Telecommunications. Retrieved from Awesome Telecommunicati ons:
http://awesometelecommunications.blogspot.com/2012/10/market-segmentation.html

Financial Data retrieved from Factset Research Systems, Inc.

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