‘Good chance’ for Voyager to be profitable by 2024

PLDT, Inc. Chairman Manuel V. Pangilinan said the group remains hopeful that Voyager Innovations, Inc. will turn a profit by 2024.

“I think there’s a good chance that they can cover their EBITDA (earnings before interest, taxes, depreciation, and amortization) where the full P&L (profit and loss statement) will be positive,” Mr. Pangilinan said in a chance interview last week.

PLDT group’s telco core income, excluding the impact of asset sales and Voyager Innovations, grew 10% to P25.4 billion as of September this year.

Through Voyager Innovation’s financial services and digital payments company Maya, the group is “spearheading the growth of the Philippine digital ecosystem,” Mr. Pangilinan said during a briefing.

According to Maya, it registered “record-breaking growth” with one million bank customers and over P10 billion in deposit balances, just five months after its launch in April this year.

The application integrates the features of an e-wallet, savings, credit, and crypto in one platform.

“Maya continues to be the leading payment processor for enterprises through Maya Business, with over 810,000 registered merchant touchpoints nationwide as of end-September 2022,” PLDT said in a statement.

According to Mr. Pangilinan, Maya’s growth validates the preference of Filipino consumers for an all-in-one digital banking and payments experience.

“In parallel with government initiatives such as the National ID and SIM registration, we are propelling the digital adoption of financial services like payments, savings, and credit. Our goal is to bring these services to more people, especially those who need them most,” he said.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Arjay L. Balinbin