CTM vows to fulfil concession contract

Local telecommunications operator Companhia de Telecomunicações de Macau, S.A.R.L. (CTM) vows to fulfil the content of the concession contract signed with the government and has announced its plan to reduce the tariff for Internet services, as reported by Business Daily. With regard to possible compensation that could amount to as much as MOP1 billion (US$125 million) to be paid to CTM by the SAR Government upon possible termination of the concession contract, Vandy Poon, Chief Executive Officer (CEO) of CTM, said: “We have no intention of asking for it”.