PCCW draws up ambitious Asian expansion plan after core businesses see net profit rise 23 per cent
Viu over-the-top video service will expand to Indonesia and India this quarter
PCCW, the flagship conglomerate of Hong Kong billionaire Richard Li Tzar-kai, has drawn up an ambitious expansion plan across Asia this year for its over-the-top (OTT) and information technology service businesses, after posting solid earnings growth last year.
“We have all the fundamentals in place,” PCCW group managing director Srinivas Bangalore Gangaiah said in a conference call on Friday.
The company is looking to widen the reach of its Viu-brand premium OTT video service in 11 markets in the region.
“Following the launch in Hong Kong, Singapore and Malaysia, Viu will have expanded presence in Indonesia and India in this first quarter,” Srinivas said.
He said the company’s information technology services arm, PCCW Solutions, would also boost its presence in mainland China and other markets in Asia to meet demand in industries including telecommunications, financial services, retail, hi-tech and media.
There will be increasing demand for content, connectivity, IT and cloud [computing] capabilities
In a filing to the Hong Kong stock exchange on Friday, PCCW said its net profit from core operations increased 23 per cent last year to HK$2.37 billion, up from HK$1.93 billion in 2014, on the back of its strong telecommunications business.