Companhia de Telecomunicacoes de Macau posts profit of US$92.63 million in 2009

16 April 2010

Macau, China, 16 April – Macau’s telecommunications company, Companhia de Telecomunicações de Macau (CTM) posted a profit of 741 million patacas (US$92.63 million) in 2009, or 5 percent more than in 2008, the company’s chief executive, Vandy Poon said in Macau Thursday.

In 2008 CTM posted profit of 706 million patacas (US$88.25 million) or 7.6 percent more than in 2007.

At the end of 2009, CTM had around 523,000 mobile telephone customers, which was a year on year rise of 19 percent, whilst the number of fixed-line customers, CTM’s exclusive concession, fell by around 2.5 percent to a total of 171,360.

In the area of the Internet, CTM, which is negotiating with the Macau government for the renewal of its Telecommunications services concession after the end of 2011, when the current period ends, had almost 128,000 customers, or 3 percent more than in 2008.

In terms of future projects CTM is preparing the launch of broadband via fibre optic cable, which will allow for speeds of up to 100 megabytes.

Poon also said that the company would invest 1 billion patacas (US$130 million) over the next three years in the 4G network and broadband.

Macau currently has three 3G telephone licenses and 4 2G licenses.

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. (macauhub)