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CTM’s profit reaches 941 million patacas, 5G launch set for mid-next year

Local telecom operator CTM has made a profit of 941 million patacas in 2018, the company’s CEO Vandy Poon Fuk Hei said Wednesday, pointing out that this year marks an important time for 5G development as Macau’s leading telecom operator prepares to put the superfast connection into service in the middle of next year.

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UPDATED: 22 Dec 2023, 5:46 am

Local telecom operator CTM has made a profit of 941 million patacas in 2018, the company’s CEO Vandy Poon Fuk Hei said Wednesday, pointing out that this year marks an important time for 5G development as Macau’s leading telecom operator prepares to put the superfast connection into service in the middle of next year.

Last year’s profit rose 6.8 percent year-on-year. In 2017, CTM reported a profit of 881 million patacas, down 19 percent year-on-year, according to media reports at that time.

Poon made the remarks in a speech during the company’s annual media lunch.

According to Poon, the company shifted its focus last year to offering a variety of smart application services as its network infrastructure has been completed and is already in use.

Poon pointed out that instead, investments were spent on infrastructure enhancement involving building a full fibre-optic network and 4G+ mobile network, expanding its WiFi hotspot coverage, opening a CTM software development centre in Zhuhai and a CTM data centre in Hong Kong, apart from the development of the Internet of things (IoT) applications.

Poon added that these projects help foster the upcoming 5G network and the development of IoT based on 5G technology in Macau, stressing that the company would become more of a “digital city operator” than simply a telecom operator.

According to the presentation, the company began testing its 5G network in June last year, and collaborating with Benefit Vantage Limited and the University of Macau (UM), the company is preparing to launch 5G services in the middle of next year.

Two agreements were signed during a press conference. One of the agreements was signed with Benefit Vantage Limited, a service provider on network security and data backup base in Hong Kong. According to a CTM statement, the collaboration will introduce IPification mobile authentication technology to Macau to provide a safer and seamless online payment system in the city.

The other agreement was signed with the University of Macau, which will join CTM in the research and development of 5G mobile technology for Macau.(Macaunews)

UPDATED: 22 Dec 2023, 5:46 am

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