NTC Requires Bidders for 3G Frequency Band to Have P3 Billion Net Worth

Manila Bulletin, March 23, 2010 | Go to article overview

NTC Requires Bidders for 3G Frequency Band to Have P3 Billion Net Worth


An official from the National Telecommunications Commission (NTC) made it clear that the organization is closely safeguarding the awarding and bidding processes of its remaining 3G radio frequency band to avoid frequency hoarding by existing telecommunications companies (telcos) and to keep out devious frequency speculators from making quick financial gain by selling or leasing the 3G radio frequency band to other telecommunications groups.NTC deputy commissioner Douglas Michael Mallillin stated that the NTC has updated its application and awarding standards to make sure that the awardee of the 3G radio frequency band has an actual operating capacity that will stir up competition in the market.The new guidelines and provisions regarding the 3G radio frequency band’s allocation were published by the NTC in the Memorandum Circular (MC) no. 01-03-2010.The said memorandum includes a requirement of company net worth of at least P3 billion supported by official financial statements certified by an external auditor or equivalent documentation.3G players are also required to cover 80 percent of provincial capitals and 80 percent of chartered cities within five years.Current 3G assignees such as Globe Telecom and Smart Communications projected this to cost from P10 billion to P37 billion.“To realistically approximate the true cost of a 3G network roll-out, the [NTC] has therefore opted to increase the capitalization required of applicants by using the lowest projected capital expenditure, taking into consideration the previous 70/30 debt-to-equity standard employed in the preceding 3G qualification processes,” said Mallillin.Previous 3G assignees uniformly claimed that each of them needs the remaining 3G radio frequency band for their respective capacities and network expansion. …

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NTC Requires Bidders for 3G Frequency Band to Have P3 Billion Net Worth
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