Globe and the Aboitiz Group have vowed to pursue transformative change in the country through more connected and digitally empowered Filipinos after sealing a multi-billion peso tower sale and leaseback agreement last May 7, 2023.

Globe signed a deal to sell 447 towers for PHP5.4 billion to Unity Digital Infrastructure Inc., a joint venture between Aboitiz InfraCapital Inc. and Partners Group. On top of this, Unity is committed to build over 200 towers for Globe in areas across Visayas and Mindanao.

“I think this whole initiative of building these towers as a shared proposition truly helps the nation and also helps deploy the digital infrastructure in a much more efficient manner,” said Globe Group President and CEO Ernest Cu at the recent ceremonial signing of the tower agreement with Unity Digital Infrastructure Inc.

The transaction allows Globe to efficiently raise capital, redeploy capital from passive infrastructure to active equipment, improve balance sheet health, and leverage the expertise of tower companies, all of which help in improving its ability to more efficiently serve its customers. Globe expects a pre-tax net transaction gain of PHP1.8 billion from the deal.

Proceeds of the sale will support Globe’s future capital expenditures, and debt avoidance with the goal of improving its balance sheet and ensuring the sustainability of its network and service quality.

The Aboitiz Group, led by its CEO Sabin Aboitiz, thanked Globe for entrusting their towers to the company.

“This is a testament to our shared dedication to a more connected and digitally empowered Philippines. It’s more than a business deal, I think. It’s a solid commitment to cooperation, digital progress, and strengthening the future of our nation,” he said.

Aboitiz, also the lead convenor of the Private Sector Advisory Council, expressed optimism that the move could encourage and convince other industries to cooperate and bring about transformative change in the country.

“This agreement symbolizes the beginning of an enduring collaboration that we believe will set a precedent for how industries can actually cooperate to bring about transformative change, and I don’t only say that about what we’re doing today but about how the country is moving forward,” he added.

Globe has so far secured P47.9 billion from the P96.3 billion Tower Sale and Leaseback deal covering 7,506 towers. Subsequent closings will happen as and when closing conditions are met. Its four Sale and Leaseback partners are Unity, MIESCOR Infrastructure Development Corp. (MIDC), Frontier Tower Associates Philippines, and PhilTower Consortium Inc.

With fewer towers in hand, Globe seeks to raise its operational efficiency without compromising the reliability of its telco services. After reaching peak levels of spending for its capital expenditures over the last two years to establish a significant network backbone, Globe is shifting towards capital efficiency and optimization.(PR)

In Northern Samar

TACLOBAN CITY– A mother and her eight-year-old daughter were reported missing after they were carried away by a strong water current in Pambujan, Northern Samar on Tuesday (June 20) at about 9 am.

Local police, fire personnel, and members of the disaster risk reduction management office are combing areas within the Pambujan River, particularly in Barangay Giparayan, where the incident took place, to search for Eva Malazarte,35, and her daughter Hanna Marie.

Based on the report of the Pambujan police, the victims, on board a motorized banca, were crossing a river on their way to their farm which is within the village of Giparayan.

However, while they were about to dock, their boat lost its balance which resulted for the young girl to fall into the river.

The mother jumped to rescue her but due to the strong current, both were carried away and remain missing up to this time.

Malazarte’s husband, Ryan, and their nine-month-old daughter, Estra May, survived from the incident.
(LIZBETH ANN A. ABELLA)

Speaker Ferdinand Martin G. Romualdez congratulated the Tacloban-based Doña Remedios T. Romualdez Medical Foundation (DRTRMF), also known as Remedios T. Romualdez (RTR), for its stellar performance in the Physical Therapists Licensure Examination this month, topping the list of schools nationwide.

Also, Speaker Romualdez said it gives him “great pride” to learn that two out of the 10 top examinees in the said board exams came from the Tacloban school: Dodievic Arma, who placed 5th, and Fatima Therese Doyon, who placed 10th.

“It gives me great pride whenever a school in my hometown achieves a remarkable feat in any event. And Doña Remedios T. Romualdez Medical Foundation or simply RTR as it is called in Tacloban, have made all Taclobanons proud by placing first nationwide in the PT board exams,” Speaker Romualdez said in congratulating the performance of RTR, especially the college of physical therapy led by Dean Jay Anthony Cañete.

“And it also gives me great pleasure to know that we have topnotchers in the city! This calls for a double celebration!” he added.

According to the Professional Regulation Commission (PRC), 708 out of 1,026 passed the board examinations for physical therapists given this June.

RTR registered a 92.11% passing rate when 35 out of its 38 board takers passed the examinations, making it the top school nationwide in the category of having 30 or more examinees.

Notably, it posted a 100% passing rate for all first-takers of the board exams.
“I congratulate the officials, faculty, employees and students of RTR for this wonderful achievement! It really goes to show the top-notch caliber of education in your institution. Keep up the good work of training excellence for years to come!” Speaker Romualdez said.
RTR was founded in 1980 through the initiative of Romualdez’s father, then Leyte Governor Benjamin Romualdez, and named after the governor’s mother, Remedios T. Romualdez.(PR)