STOWER jointly owns the Telecom business in the Philippines with T3 Technology, the leading company in Thailand, to expand broadband Internet and IoT markets in the Philippines, expecting to generate revenues of more than 3 billion Baht in 3 years.
"Sky Tower" has partnered with T3 Technology, a leading technology company in Thailand, to proactively penetrate the broadband Internet and IoT markets in the Philippines, thereby increasing STOWER's telecom tower rental business with similar target customers, expected to earn more than 3 billion Baht in the Philippines in 3 years, following in the footsteps of T3 Technology, which has succeeded in Thailand with recent annual sales of over 3 billion Baht .
Mr. Theerachai Leenabanchong, Chief Executive Officer of Sky Tower Public Company Limited (STOWER) revealed that the Company has signed a strategic cooperation agreement in the Philippines with T3 Technology Co., Ltd., the leading technology company in Thailand, with 3 research and development (R&D) centers in China. This cooperation aims to expand their business base in the Philippines and is an extension of STOWER's telecom business, which currently operates telecommunications towers for rent (TowerCo). The customers are mobile network operators (MNO), the same customer group as Internet broadband providers. However, in 2021, there will be over 6.9 million users of fixed broadband internet services in the Philippines with an average annual growth rate of 11% per year. Therefore, Stower estimates that the sales of T3 technology products will exceed 3 billion Baht within 3 years.
In 2021, the Philippines had a population of approximately 110 million, and the numbers are continually growing at a rate that is expected to reach about 120 million people in the next 5 years, with an average age of 26 years. They are a new generation with a lifestyle who demand Internet access and are fond of modern technology. Therefore, businesses associated with the high-speed Internet have significant growth opportunities. Apart from the need for high-speed Internet from consumers, there’s still a lot of demand from the business sectors. Since the Philippines has risen to the top of the list of global business hubs, it is necessary to use an effective internet connection. At present, Internet broadband in the Philippines has an average download speed of just 50 Mbps, while Thailand has an average download speed of 175 Mbps.
This partnership will be mutually beneficial; STOWER will be able to expand its telecom business in the Philippines, which is currently operational and has strong customer relationships. Additionally, we have a team of experienced professionals who are well-known in business operations in the Philippines. T3 Technology will also be able to complete its business expansion in the Philippines with STOWER as a business partner at this time, "said Mr. Theerachai.
Mr. LEO YU, Chief Executive Officer of T3 Technology Co., Ltd., stated that the two parties will work together to offer broadband CPE products and IoT products to broadband internet providers in the Philippines. T3 Technology is one of the leading providers of telecommunication solutions in Southeast Asia, with strong technology and R & D centers to meet consumer demands and develop an eco-system for products. In addition, advanced design technology can customize and develop hardware and software to control the quality of high-efficiency end-to-end products and provide technical services to customers. T3 Technology was then successful in Thailand as the number one leader in broadband CPE equipment, with sales of over 3 billion Baht last year. T3 Technology and STOWER's partnership is expected to be able to expand the business bases of both companies, as the Philippines is another country with the potential to grow its Internet business and IoT solutions.
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