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Arsenio Ng-led firms suffer slowdown amid tough business conditions

Two publicly listed companies controlled by businessman Arsenio T. Ng saw a slowdown in their financial performance as of end September.

Transpacific Broadband Group International (TBGI) reported a 10 percent drop in its profit from January to September as revenues were flat at P29.3 billion.

The company holds a 25-year Congressional franchise to construct, install, and operate communications systems for the reception and transmission of messages within the country.

TBGI has one operating segment, which is the broadband and internet services.

Meanwhile, ATN Holdings widened its net loss to P2.76 million for the first six months of its fiscal year ending September from P2.74 million in the same period last year.

Revenues, however, jumped 60 percent to P19.9 million from P12.43 million the previous year.

ATN owns 48.8 percent of ATN Solar, a grantee of solar energy service contract to develop, own and operate a 30-megawatt solar power plant in Rodriguez, Rizal.

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