‘Kaya Mo Now’: Globe At Home launches GFiber Prepaid, PH’s First Affordable Fully Digital Home Prepaid Fiber WiFi Experience

In a world where connectivity has become a crucial life enabler, having access to a reliable internet connection is extremely important. Such a connection should seamlessly support various internet needs, be it for learning, earning or leisure. But with rising costs of basic necessities, many may think hindi kaya ang fast and reliable connectivity and that they’ll just have to make the best of what they’ve got.

Globe At Home is poised to change that, as it delivers a game-changing innovation that will make Filipinos believe na “Kaya Mo Now.”

In line with its mission to champion the country's digital transformation, Globe launched on Thursday, July 20, 2023, a new product that aims to empower more Filipinos and show them that they can go beyond their limits: GFiber Prepaid – an unlimited prepaid fiber WiFi for Filipino homes.

"Over the years, Filipinos have settled for regular internet services they can afford to meet their and their family's internet needs without realizing that they are limiting their potential. With Globe at Home's latest innovation na “Kaya Mo Now” - GFiber Prepaid - we can now tell them na kahit ano, kaya mo, kaya ng pamilya, kaya now," said Raymond Policarpio, Vice President of Globe At Home Brand Management.

At the GFiber Prepaid “Kaya Mo Now” launch at The Globe Tower in BGC, attendees were given the chance to witness and experience first-hand the power of fiber technology through a Fiber Lab Tour led by a group of experts, the Globe Home Squad. In the immersive session, attendees learned about how fiber optic technology works, experiencing its journey to the household.

Attendees were then brought inside an installation of a GFiber Prepaid-powered home where influencers showcased how this powerful yet affordable prepaid fiber connection can be used for their diskarte in life, among them online learning, live selling, and content creation.

Hosted by a madiskarteng Pinoy herself, Neri Miranda, the event also featured real-life experiences and stories of madiskarteng Pinoy like Imarie Yoshida, a former brand ambassador turned online seller, and Carmencita Bumanglag, a hustling sari-sari store owner. Both have a clear vision of how they want to progress in life, but were limited by poor internet connectivity. Through having access to GFiber Prepaid, they found new possibilities, empowered to keep driving towards achieving their goals.

GFiber Prepaid offers fiber-speed home internet with various affordable loading options that consumers can tailor according to their budget. To ensure that no Filipino family is left behind, Globe at Home offers No Lock Up, Unlimited Pay-Per-Use promos, and a ‘Buy Now, Pay Later’ option in partnership with GCash via GCredit and GGives, making it easier for customers to secure their fiber connection.

Beyond expanding its product offerings to cater to more Filipinos, Globe At Home, through GFiber Prepaid, is reshaping the digital landscape as the Philippine’s first fully digital prepaid fiber experience from application to consumption, via the Globe One App. Customers can conveniently apply, schedule installation, track their order, and purchase their desired promos through the app.

Through GFiber Prepaid, Globe takes a step closer towards promoting digital inclusion and enablement, making the battlecry “Kaya Mo Now” come true for Filipinos.

Converge Sustains Subscriber Growth with Revenues up 40% in Q1 2022

The country’s leading fiber broadband provider Converge ICT Solutions Inc. has grown its revenues by 40% to P7.75 billion in the first quarter of the year compared to the same period last year, on the back of continued strong residential subscriber increase and accelerating demand from enterprise clients.

In its first quarter financial and operations briefing to the media, Converge disclosed that it registered gross subscriber adds of 188,000 during the quarter, up 15% from the last quarter in 2021, leading to a cumulative subscriber count of 1.8 million, higher by 53% compared to its year-ago level.

Meanwhile, core net income grew to almost P 2.0 billion in Q1 2022 representing a core net income margin of 25.4%.  

“We are seeing a solid growth of our financials in the first quarter of 2022 and we expect to hit our full-year targets as we remain aggressive in our network rollout and marketing activities both in the residential and enterprise segments,” notes Converge CEO and Co-Founder Dennis Anthony Uy. 

Further propping up revenue growth is the continued increase in its Enterprise business which encompasses small and medium enterprises (SMEs), Corporates, Large Enterprise, and Wholesale. The reopening of the economy and gradual thriving of SMEs has aided the segment’s growth. Revenues for the Enterprise business amounted to P935.5 million in Q1 2022, 25% higher versus P749.7 million in Q1 2021. SMEs contributed 20% to the total, and by itself grew by 118% year on year. SME subscribers of Converge reached 25,810 as of March 21, 2022 - a growth of 200%.

"The revival of the economy and the return of businesses - especially SMEs - has given our enterprise business a push in the first quarter of the year. Moving forward, we hope to offer more value to SMEs as they continue to recover," said Converge President, Chief Resource Officer, and Chief Risk Officer Maria Grace Y. Uy. 

Converge continues to ensure Filipinos enjoy high availability, aggressively rolling out its fiber ports in Q1 2022 and reaching 6.5 million ports as of March 2022. This puts it on track to reach the accelerated target of 7.5 million to 8 million ports by 2023. 

Nationwide household coverage as of Q1 2022 is at 47%. In terms of homes passed, 12.2 million homes in the Philippines are serviceable by Converge, which is 70% higher than the same period in 2021.

Despite its massive network investments, Converge maintained an industry-leading return on invested capital (ROIC) of 17.3%, due to the company’s disciplined approach in deploying capital to expand its fiber network and tracking key capital efficiency indicators such as port utilization ratios. 

In the first quarter of the year, Converge acquired the Alaska Aces franchise and officially entered the Philippine Basketball Association (PBA) under its own team, the Converge FiberXers in a bid to become a household name. 

Recently, Converge was included in the exclusive and highly-watched MSCI Global Standard Indexes, the only Philippine company to be included in its latest rebalancing announced May 12, 2022. This inclusion will become effective on May 31, 2022. This further broadens the exposure of Converge to international passive investors and stands as further proof of its strong market position. 

###

PHOTOS:

The Converge Enterprise business encompassing small and medium enterprises (SMEs), Corporates, Large Enterprise, and Wholesale maintained its upward momentum in the first quarter of 2022 delivering 25% YoY revenue growth.

Converge opens its business center in Calapan, Mindoro as part of the Company’s Go Deep and Go National strategy. Converge continues to be the fastest growing fiber network in the country, having rolled out almost 645k FTTH ports in the first quarter of 2022 resulting in 47% household coverage across the Philippines, on track to reach the accelerated target to cover 55% of households by 2023.

Converge Inks Loan Package with LANDBANK

3 September 2021 – Leading Philippine fiber broadband provider Converge Information and Communications Technology Solutions, Inc. (PSE: CNVRG) has inked a P3 billion term loan agreement with state-owned Land Bank of the Philippines (LANDBANK) to fund the completion of its terrestrial and subsea domestic fiber backbone network, as well as support the working capital requirements of the internet service provider.

“This loan financing brings us one step closer to our goal of connecting the unserved and underserved areas in the country. The available funds will help us reach into untapped markets, and really ‘Go Deep’ into existing ones,” said Converge CEO Dennis Anthony Uy.

“Our network investments are at the core of our service to Filipinos. There is still huge pent-up demand for high-speed broadband connectivity in the country. And the need for quality internet services became even more critical when the pandemic happened. Suddenly, the home became the office, the school, entertainment center, and marketplace in one,” he noted.

The total loan package from LANDBANK will also include an additional short term loan line as well as a facility for its trade transactions amounting to up to P2 billion.

“This loan package will provide Converge with financial flexibility as we continue to connect Filipino households to our pure fiber network nationwide,” said Converge President Maria Grace Uy. “We expect this financing facility to strengthen our balance sheet and help us reach our goal of covering 55% of Filipino households by 2025.”

Converge has programmed a total of P20 billion for capital expenditures this year, with bulk of the funds going into its nationwide expansion where it connected Visayas and Mindanao to its national fiber backbone. It recently commercially rolled out its services in Cebu province and did a soft launch in Davao City.

“As you further expand your domestic network, broaden your distribution reach, and secure additional access to international connectivity, we in LANDBANK affirm our commitment to support you in meeting these objectives. In terms of inclusivity, Converge’s “Go Deep” strategy to penetrate unserved and underserved areas is aligned with our own, as LANDBANK promotes financial inclusion by serving unbanked and underserved Filipinos,” said LANDBANK President and CEO Cecilia Borromeo during the signing ceremony.

As of end-June 2021, the pure fiber network of Converge has passed over 8.3 million homes, more than double the figure from its year-ago level. This accounts for 32% of total Philippine households and 57% of total homes in Luzon.

Converge and LANDBANK officials at the Loan Agreement Signing (Top row, from left) Converge CEO Dennis Anthony Uy, LANDBANK President and CEO Cecilia Borromeo, Converge President Maria Grace Y. Uy

(Bottom row, from left) LANDBANK Agricultural and Development Lending Sector, Officer-in-Charge Senior Vice President Filipina B. Monje, Converge Deputy Chief Finance Officer Christine Renee R. Blabagno and LANDBANK Corporate Banking Group Head, Senior Vice President Ma. Celeste A. Burgos


About Converge ICT Solutions, Inc.

Converge Information and Communications Technology Solutions, Inc. (PSE:CNVRG) is the leading pure fiber data network and internet service provider in the country. It is the first to run a pure end-to-end fiber internet network, providing Filipinos simple, fast, and reliable internet connection. Converge is ISO 9001 and CE2.0 Certified.