PinoyBusiness.ORG – Home

Easycall Communicates Philippines Inc., the former paging leader in the Philippines, gets a boost from local technology firm Global E-Business Solutions Inc. as the company hiked its stake in Easycall to push it to pursue ventures in the wireless broadband Internet sector.

In their disclosure to the Philippine Stock Exchange (PSE), Easycall said that its board has approved an increase in its paid-up capital by P46.6 million which would be fully subscribed by the Global E-Business Solutions. This subscription would hike the latter’s stake in Easycall to over 72 percent from the previous 60 percent.

Easycall told the PSE, “In compliance with the condition of the National Telecommunications Commission for the company to increase its paid-up capital ‘not through loan,’ the board approved the increase in the subscribed and paid-up capital of the company by P46.57 million.” This will bring the company’s authorized capital to P150 million.

Global E-Business’s infusion would come by way of private placement involving 46.57 million shares with a par value of P1 apiece, according to Easycall. “The capital to be raised by this private placement is to be used to fund the expansion and enhancement of the broadband wireless services and the utilization of the company’s nationwide wireless data communication network and other data services,” the company said.

Easycall was originally organized in 1989 as a telecommunications firm. It pioneered the use of pagers in the country and was the leader it this industry. For the third quarter of the year, the company reported that it earned a net profit of P1.42 million, swinging from a P1 million loss in the same three-month period last year.