Converge invests P25 billion to expand services in Philippines

Converge ICT Solutions Inc. plans to invest up to P25 billion in 2025 to enhance services and expand its customer base. This is a significant increase from last year's capital expenditures of P9.4 billion, which were affected by project delays. The 2025 budget includes funding for international subsea cable systems, which were delayed due to permitting issues and weather. Converge expects to complete these projects this year, enhancing connectivity between the Philippines and other regions. The company reported an 18.8% increase in earnings for 2024, reaching P10.8 billion. Residential subscribers grew by 20% to 2.56 million, contributing to a 14.8% rise in total revenues to P40.6 billion.