PH eyes $30-M infusion into Singapore-based satellite firm

Trade Secretary ALfredo E. Pascual, Science and Technology Secretary Renato U. Solidum Jr., Information and Communications Technology Secretary Ivan John Uy, NDC General Manager Antonilo DC Mauricio, President Bongbong Marcos Jr., and Kacific executives at the Malacañang Palace on Aug 2, 2023.-Contributed photo

MANILA  -The investment arm of the Department of Trade and Industry (DTI) is planning to invest $30 million in Singapore-based Kacific Broadband Satellites Group (Kacific) in exchange for shares in the company and a sizeable stake in the latter’s second satellite slated for launch in 2027.

Antonilo DC Mauricio, General Manager of the National Development Corp (NDC), said the amount would be distributed in this manner: $10-million equity in the company, $10 million for the Kacific-2 satellite, and $10 million in one of the company’s other joint ventures.

Mauricio said they could get a frequency block, or dedicated satellite broadband capacity, as a result of the possible tie-up.

“These exclusively dedicated broadband capacities will enable the government to support its digital infrastructure rollout programs aimed to deliver connectivity nationwide and will further the country’s communication infrastructure capabilities,” Mauricio said in a message sent to the Inquirer.

The frequency block, which should come at a cheaper price since it is wholesale, could then be resold to other government agencies or to telcos and internet service providers.

“This plan is thus a long term anti-inflationary measure for the Philippines given that telco and [information and communications technology] expenses are consistently increasing as a share to the Filipino family’s total household expenses,” said Mauricio.

On Tuesday, President Marcos met with Kacific executives in Malacañang to discuss ways to beef up digital connectivity and cybersecurity in the Philippines.