CTM profits up 6.8 pct in 2018

1131

Macau (MNA) – Local communications provider CTM recorded some MOP941 million (US$116.3 million) in profits in 2018, a 6.8 per cent year-on-year increase, the company CEO, Vandy Poon, indicated on Wednesday.

According to the company head, in 2018 CTM shifted its focus to a variety of smart application services while further investing in infrastructure enhancement to the quality of the full fiber-optic network and 4G+ mobile network.

CTM also expanded its Wi-Fi hotspot coverage and the development of the IoT applications, while seeking to expand operations in the Greater Bay Area by opening a CTM software development center in Zhuhai and a CTM data center in Hong Kong.

The company indicated that in 2018, there were over 2,700 free CTM Wi-Fi hotspots covering various districts, bus routes and TurboJET Ferries travelling between Hong Kong and Macau, with the number of connections over 40 million and usage over 4 million GB.

CTM also underlined that 2019 will be an important year for implementing 5G, with the company vowing to develop and launch 5G network services for Macau at the same pace as the neighbouring regions.

The first phase of 5G network testing was launched by CTM in June, 2018, with the company having previously noted that it intended to launch 5G for commercial use in the first half of 2020, with negotiations on-going with local authorities to obtain a 5G licence.

At the company’s annual results presentation today the Rector of the University of Macau, Prof. Song Yonghua, also signed a collaboration agreement with CTM for research and development of 5G mobile technology in Macau.

CTM also signed a collaboration agreement with the CEO of Benefit Vantage Limited,Stefan Kostic, a service provider on network security and data backup based in Hong Kong, to introduce IPification mobile authentication technology to Macau, so as to provide safer online payments.