Macau: Profits at Companhia de Telecomunicacoes de Macau over 660 million patacas in 2007

29 February 2008

Macau, China, 29 Feb – The director general of Macau telecommunications company profit at Macau’s Companhia de Telecomunicações de Macau (CTM), Vandy Poon, said that the companies profits in 2007 were expected to total around 660 million patacas (US$82.5 million).

In a press conference, Poon said that net profit at CTM had risen 20 percent against 2006, when it totaled 547 million patacas.

The CTM official also said the company planned to invest around US$200 million on infrastructures and improving its network over the next five years.

In 2007 CTM announced it had invested US$37.5 million in Macau.

Macau, which has four mobile telecommunications operators providing seven separate networks, has a market penetration of around 148 percent for a population of 530,000 people.

At the end of December 2007, there were 178,013 fixed line telephones, 794,323 mobile telephone numbers, including pre-paid cards and 119,913 Internet subscriptions.

CTM is a subsidiary of UK company Cable and Wireless, which has a 51 percent stake in the company, while Portugal Telecom owns 28 percent, CITIC Pacific Ltd owns 20 percent with the remaining one percent in the hands of the government of Special Administrative Region of Macau.

CTM holds the monopoly on fixed-line telecommunications until 2011. (macauhub)