pldt communications and energy ventures inc. type public pse pltl industry communications services founded manila philippines july 18 1968 headquarters makati city philippines key people manuel v. pangilinan chairman napoleon l. nazareno president and ceo products cellular telephony fixed line telephony revenue p8 .88 billion php 17.67 % june 30 2008 net income p5 .2 billion php 46.34 % june 30 2008 2 parent pldt smart communications website www.piltel.com.ph the pldt communications and energy ventures inc. pse pcev formerly known as pilipino telephone corporation or piltel is a holding company of the pldt group for its venture into the electricity distribution industry . previously it was one of the mobile and fixed line telephone service providers in the philippines . pcev is 99.5 % owned by smart communications a wholly owned subsidiary of the philippine long distance telephone company pldt . the remaining 0.5 % of pcev s shares is owned by the filipino investing public . 1 through pcev pldt forms a consortium with metro pacific investments corporation to form beacon electric asset holdings inc. which is the majority owner of meralco . contents 1 history 2 subsidiaries 3 wireless 4 philippine area code assignment 5 ownership 6 competition 7 sports 8 references 9 external links 9.1 official history edit piltel was incorporated with limited liability on july 18 1968 . it started its business by providing landline services in eight cities and municipalities in the philippines baguio city general santos olongapo subic puerto princesa digos boac and masbate . in march 1991 piltel started offering cellular phone services branded mobiline using the amps standard . in august 1993 piltel launched it paging business called beeper 150 . in july 1995 piltel had its shares listed in the philippine stock exchange . by 1996 piltel dominated the market with 42 % market share . however in that same year cellular fraud or cloning became rampant in the philippines . this prompted piltel to upgrade its amps network to the cdma standard . it was also in the same year that executive order no. 109 was implemented thus piltel had to expand its landline services to unserved and underserved areas in southern and western mindanao . unluckily in july 1997 a financial crisis that started in thailand spread across neighboring countries in asia . this together with rising inflation the cost of upgrades and expansion loss of wireless subscriber confidence because of the cloning problem in the previous year and lack of subscriber interest in the newly installed mindanao landline network because of the financial crisis ; started to weigh heavily on the finances of piltel . on top of it intensified competition started eating into piltel s wireless market subscriber share . in 1998 competitors using the gsm standard started promoting the use of sms which has since become the most preferred communication method of the filipinos . before piltel had the chance to add sms facilities to its cdma network it was already deep into the red with php4 .1 billion worth of losses as of end 1998 . in november 1999 piltel s management decided to stop investing in its amps cdma networks . moving forward management signed a facilities sharing agreement with competitor smart communications to be able to provide wireless services using smart s gsm network . by april 2000 piltel launched its gsm brand talk n text . since then most of piltel s employees have been absorbed by smart communications . likewise the management of its wireless business have also been outsourced to smart communications . the beeper 150 network was already shut down and its landline business was sold to pldt on june 4 2008 . as of july 29 2009 smart communications completed its tender offer to buy out most of piltel s other minority shareholders thereby raising its ownership to 99.5 % . on august 17 2009 piltel completed the transfer of its wireless businesses to smart communications . 2 on may 25 2010 piltel renamed to its current name after the securities and exchange commission sec approved the change in its corporate name as well as other amendments to the company s articles of incorporation . 3 subsidiaries edit the following are piltel s wholly owned subsidiaries telecommunications service providers telserv phils involved in operator services piltel international holdings corporation pihc british virgin islands involved in the issuance of bonds convertible into common shares of piltel piltel cayman ltd. cayman islands involved in bringing into the debt restructuring plan holders of piltel s convertible bonds wireless edit today piltel is no longer a wireless services operator . before the transfer piltel used its amps cdma networks to lease out telephone lines to a few corporate subscribers and has decommissioned all but six of its amps cdma cellsites . likewise piltel also reported 16 590 737 subscribers to its gsm brand talk n text just before the transfer . 4 philippine area code assignment edit piltel used the 912 area code for its amps cdma service . however it is now used for the talk n text brand which was transferred to smart communications . 5 ownership edit smart communications 99.5 % public stock 0.5 % competition edit piltel s main competitors were smart communications globe telecom and sun cellular in the mobile market . it previously competed with carriers such as digitel and bayan telecommunications bayantel in the fixed line market . sports edit piltel owned the talk n text tropang texters of the philippine basketball association now transferred to smart communications . references edit pse.org.ph piltel s 2009 annual report page 4 pse.org.ph piltel s 2009 annual report page 4 1 pse.org.ph piltel s 2009 annual report page 7 pse.org.ph piltel s 2009 annual report page 4 external links edit official edit new pcev website piltel website defunct redirect to pcev s website talk n text brand site v t e philippine telecommunications companies abs cbn sky abs c globe bayantel pldt digitel smart vega wi tribe v t e philippine mobile phone operators mobile operators globe smart sun virtual operators abs cbn mobile tnt tm defunct operators red mobile extelcom next mobile belltel v t e tnt katropa founded in 1990 owned by smart communications a subsidiary of pldt formerly the pepsi hotshots mobiline phone pals and talk n text tropang texters franchise franchise all time roster draft history seasons current season administration owner manuel v. pangilinan board governor ricky vargas head coaches edgardo ocampo dante silverio derrick pumaren yeng guiao norman black derrick pumaren tommy manotoc eric altamirano louie alas bill bayno paul woolpert joel banal derrick pumaren chot reyes norman black jong uichico retired numbers 3 championships 8 2003 all filipino 2008 09 philippine 2010 11 philippine 2011 commissioner s 2011 12 philippine 2012 13 philippine 2015 commissioner s 1998 centennial runner up finishes 9 1992 third 1998 governors 2002 commissioner s 2004 05 philippine 2005 fiesta 2007 fiesta 2011 governors 2012 commissioner s 2014 commissioner s culture and lore philippine cup 3 peat 2010 11 2011 12 2012 13 jun bernardino trophy the blur the mighty mouse the rock seasons 26 1990s 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 s 2000 2001 2002 2003 2004 05 2005 06 2006 07 2007 08 2008 09 2009 10 2010s 2010 11 2011 12 2012 13 2013 14 2014 15 2015 16 retrieved from https en.wikipedia.org w index.php title pldt communication and energy ventures & oldid 726324041 categories pldt subsidiariescompanies established in 1968companies listed on the philippine stock exchangetelecommunications companies of the philippinescompanies based in makati navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia 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