Transpacific to renew franchise

Transpacific Broadband Group International Inc. (TBGI) is keen on extending its legislative franchise as it prepares to participate in various developments in the country’s telecommunications sector, including the entry of a third telco player.

The publicly listed company told the stock exchange that its board has authorized the company to apply for the renewal of its Congressional franchise under Republic Act 8657 for another 25 years covering the period 2023 to 2048.

The renewal is aimed “to support government initiative for a third telco to serve the public interest,” the company said.

TBGI has expressed its interest to participate in various Department of Information and Communications Technology (DICT) opportunities in the telecommunication market, given the urgent directive of the government to have a third telco player.

Among the opportunities the company is looking into is a direct participation in a consortium of the third telco participating investors, as well as direct participation in a consortium of a common tower investment corporation to establish 50,000 tower sites nationwide.

The common tower investment corporation would then lease its towers to the third telco player and existing telco powerhouses.

TBGI also intends to establish a representative office in China with coordination and cooperation with a China consortium involved with telecoms and technology, the aim of which is to bring in artificial intelligence initiative, blockchain technology, asset-backed initial coin offering, and Internet of Things technology.

The company earlier this month disclosed plans to sell up to 40 percent of its shares to foreign investors to raise funds and participate in the selection of the country’s third telco player.

TBGI maintains its current satellite operations for Uplink Services, VSAT Services, and internet over satellite services to service the education and commercial sector.