CTM plans to invest US$120 million in Macau Digital plan

25 January 2006

Macau, China, 25 Jan – Macau telecommunications company, Companhia de Telecomunicações de Macau (CTM) plans to invest one billion patacas (around US$120 million) in the next three years on developing a 3rd generation and broadband Internet access network, Chinese daily English-language newspaper China Daily said Tuesday.

The paper added that in order to develop the Macau Digital plan, CTM would invest heavily in network infrastructures for 3rd generation mobile phones and for Internet access.

Executive director of CTM, Phil Green, told China Daily that CTM had a good year in 2005 with strong growth in the Internet segment and number of subscribers passing the 87,000 mark and more than 70,000 having access to a broadband service.

In relation to 2005 accounts, Green also said that they had not as yet been closed and could only say that figures were better than for 2004, a year in which the country posted profits of 400 million patacas.

Portuguese news agency Lusa reported Wednesday that CTM posted profit of 530 million patacas in 2005, a 32.5 percent increase on 2004.

CTM is owned by Cable & Wireless, with 51 percent, Portugal Telecom, with 28 percent, Citic Pacific, with 20 percent and the Macau government with 1 percent.. (macauhub)