1
PLDT is the largest integrated
telecommunications and digital services
provider in the Philippines. Through its
principal business segments – fixed line,
wireless, digital and others – PLDT offers the
most diversified range of communications
and digital services across the Philippines’
most extensive fiber optic, wireless and fixed
line networks.
PLDT is listed on the Philippine Stock
Exchange (PSE:TEL) and its American
Depositary Shares are listed on the New York
Stock Exchange (NYSE:PHI). PLDT is one of
the largest Philippine-listed companies in
terms of market capitalization.
VISION
Lead and inspire Filipinos to create a
better tomorrow.
SUBSIDIARIES
WIRELESS
Smart Communications, Inc. and Subsidiaries
Digitel Mobile Philippines, Inc.
MISSION
Empower Filipinos everywhere with
customer-focused digital innovations that
unlock and share their infinite potential.
VALUES
Deliver awesome customer experience
Take care of our people
Collaborate to win
Fast is better than perfect
Malasakit
Humility to listen and learn
FIXED LINE
ePLDT, Inc. and Subsidiaries
Bonifacio Communication Corporation
PLDT Clark Telecom, Inc.
PLDT Global Corporation and Subsidiaries
Pilipinas Global Network Limited and Subsidiaries
OTHERS
PLDT Communications and Energy Ventures, Inc.
PLDT Digital Investments Pte. Ltd. and Subsidiaries
PLDT Global Investments Holdings, Inc.
PLDT Global Investments Corporation
CONTENTS
02
Comparative Highlights
03
04
08
12
16
28
32
36
66
70
74
77
78
80
115
116
117
123
131
309
310
Consolidated Financial Performance Highlights
Message from the Chairman
Letter from the President and CEO
Awards and Recognitions
Corporate Milestones
Corporate Social Responsibility
People and Culture
Corporate Governance Report
Enterprise Risk Management
Board of Directors/ Advisory Board Committee
Executive Officers
Top Management Team
Officers
Financial Review
Audit Committee Report
Statement of Management’s Responsibility for Consolidated
Financial Statements
Independent Auditor’s Report
Consolidated Statements of Financial Position
Consolidated Financial Statements
Independent Auditor’s Report on Supplementary Schedules
Independent Auditor’s Report on Components of Financial
Soundness Indicators
321
Contact Information
2021 turned out to be just as challenging as 2020. Despite the ongoing
pandemic, PLDT continues to persevere, driven by the motivation to connect
Filipinos to each other and to the rest of the world. With fiber connectivity
powering homes to workplaces, PLDT’s services equipped people to
persevere, live each day to the fullest, and ready for the “new normal.”
When Super Typhoon Odette hit the country last year, our frontline
engineers, on-ground personnel, and volunteers displayed heroic feats
helping rebuild and restore communications despite the holiday seasons.
Working tirelessly for hours to help restore vital communication on the
ground, they exemplified the spirit of service and Malasakit to reconnect the
lost with their loved ones and the breadwinners with their livelihood.
In 2022, PLDT aims to hit the ground running for a brighter future ahead.
On top of fast-tracking the coverage of fiber and expanding consumer
network to enable more digital services, the Group established a COVID-19
assistance program which prioritize employees’ health and well-being, and
further expanded CSR programs for education, empowerment and disaster
resilience to empower and impact more communities.
Together, great things are possible. Together, we build the future of
connectivity.
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COVER STORY
HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
COMPARATIVE HIGHLIGHTS
Financial information
(in million pesos, except cash dividends declared per
common share)
2017
2018
2019
2020
2021
Revenues
Service revenues
158,933
162,914
169,187
181,004
193,257
150,172
152,369
161,355
173,634
185,751
Non-service revenues
8,761
10,545
7,832
7,370
7,506
Expenses
149,422
149,141
129,786
144,822
152,496
Selling, general and administrative expenses
68,990
73,916
68,230
75,255
78,303
Depreciation and amortization
51,915
47,240
39,656
47,480
52,169
Cost of sales and services
13,633
14,427
13,429
12,295
13,341
Provisions
4,345
5,720
4,542
7,380
4,584
Interconnection costs
6,626
5,493
3,638
2,146
3,698
Asset impairment
3,913
2,345
291
266
401
Net income for the year
13,466
18,973
22,786
24,580
26,676
Core income
Telco core income
EBITDA
27,668
25,855
25,111
27,129
29,937
23,576
24,047
27,080
28,087
30,233
66,174
64,027
79,815
86,158
95,900
Property and equipment, carrying value
186,907
195,964
232,134
260,868
302,736
Capital expenditures
40,299
58,490
72,871
71,904
88,983
Short and Long-term debts
172,611
176,276
192,556
222,765
252,557
Net Debt
138,632
123,457
167,873
180,386
225,802
Equity attributable to equity holders of PLDT
106,842
112,358
111,987
115,408
123,216
Cash dividends declared per common share out of the
earnings for the year
Operating Information
76
72
75
78
84
Number of mobile subscribers
58,293,908
60,499,017
73,118,155
72,933,839
71,221,952
Number of fixed line subscribers
2,663,210
2,710,972
2,765,209
3,042,815
3,619,372
Number of broadband subscribers
1,950,881
2,025,563
2,161,484
3,090,118
3,951,844
Fixed Line
Fixed Wireless
1,713,527
1,812,037
1,931,333
2,273,602
2,966,886
237,354
213,526
230,151
816,516
984,958
Total number of subscribers
62,907,999
65,235,552
78,044,848
79,066,772
78,793,168
Number of stockholders
11,712
11,658
11,596
11,575
11,510
Number of employees:
17,779
17,222
18,784
18,848
18,822
Wireless
Fixed Line
7,042
6,332
5,907
5,783
5,433
10,737
10,890
12,877
13,065
13,389
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CONSOLIDATED FINANCIAL
PERFORMANCE HIGHLIGHTS
PLDT 2021 ANNUAL REPORT
Service Revenues
(in billion pesos)
98.5
87.3
95.7
77.9
88.3
73.1
80.3
71.0
1.1
86.2
62.8
1.2
Subscriber Base
(in millions)
185.8
173.6
161.4
152.4
150.2
71.2
72.9
73.1
60.5
58.3
3.6
4.0
3.1
3.1
2.8
2.1
2.7
2.0
2.7
1.9
Wireless
Fixed Line
Others
Mobile
Fixed Line
Broadband
EBITDA
(in billion pesos)
Cash Flow from Operations
(in billion pesos)
78.8
79.1
78.0
65.2
62.9
92.0
85.1
69.4
61.1
56.1
Telco Core Income
(in billion pesos)
95.9
86.2
79.8
64.0
66.2
30.2
28.1
27.1
24.0
23.6
3
Market Capitalization
(Year-end, in billion pesos)
391.5
289.5
213.5
243.1
319.8
2021
2020
2019
2018
2017
2021
2020
2019
2018
2017
2021
2020
2019
2018
2017
HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
MESSAGE FROM THE
CHAIRMAN
Thriving on new
historic highs
TO MY FELLOW SHAREHOLDERS,
2021 provided no shortage of unique
challenges – and opportunities – in
the clutches of a prolonged pandemic.
Our economic recovery from COVID-19
carried on, but not without persistent
inflationary effects. Hyper competition
in telco and fintech picked up pace,
as customers’ digital lifestyles evolved.
Environment, Social and Governance
(ESG) metrics, particularly those
on climate and energy transition,
beckoned more attention. This, as
Super Typhoon Odette (Rai) dealt
Visayas and Mindanao a calamitous
blow before the end of 2021, reminding
us of the perils our country faces,
intensifying under climate change.
Malasakit exemplified, in COVID and in calamity
Against these challenges, the PLDT Group delivered. Our
tireless frontliner heroes helped restore communications
services in the hardest-hit areas, with many giving up their
Christmas and New Year holidays to ensure our customers
were reconnected.
Such were the stories of Smart network engineer
Frederick Rebotabo, who braved Palawan’s scorching
heat, walking for more than eight hours along impassable
roads, to get help reconnecting families with their loved
ones; or of PLDT Division Head Coordinator Isabelo “Beloy”
Rosales, who led his team in the Visayas, lugging around
chainsaws and cooked meals, prepared for the days and
nights ahead in bringing back communication services.
To our field personnel in the networks and sales groups
– I salute and commend you all for your commitment.
You are the beacons of Malasakit, shining a light on the
darkest of days. You have helped provide communications
as aid to those in need, and with the PLDT-Smart
Foundation, have helped relief efforts. You exemplify our
focus on customer service, a mantra for the PLDT Group.
Thriving on new historic highs
Amid the calamity and continuing pandemic, we
transformed and performed. Addressing the sustained
and shifting demands for connectivity, we scaled new all-
time highs on revenues and EBITDA. We expanded our
fixed and mobile networks nationwide, powering more
hybrid workspaces and online learning, enabling more
businesses to thrive.
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PLDT 2021 ANNUAL REPORT
To our field personnel in the networks and
sales groups – I salute and commend
you all for your commitment. You are the
beacons of Malasakit, shining a light on the
darkest of days. You have helped provide
communications as aid to those in need,
and with the PLDT-Smart Foundation, have
helped in the relief efforts. You exemplify
our focus on customer service, a mantra
for the PLDT Group.
Fast-tracking our fiber rollout, we connected a record 1.13
million new fiber customers in 2021, exceeding our original
target. We have expanded and enhanced our digital
ecosystem through synergies with PayMaya. In September
2021, Voyager achieved another milestone with Maya
Bank securing a digital banking license from the Bangko
Sentral ng Pilipinas (BSP).
That same formula applies in 2022. While the levers for
growth may shift, we must keep our focus resolute on our
North Star – our customers. Echoing Al’s vision, we must
not lose sight of recreating ourselves to stay dominant
across product lines, delighting customers as we enable
their evolving digital lifestyles, continuously transforming
ourselves to thrive.
Our financial results bear the fruits of a company that
worked together, transforming to thrive. Consolidated
Service Revenues (net of interconnection costs) rose 6% to
₱182.1 billion, the highest full year revenue ever attained,
surpassing 2020’s ₱171.5 billion, led by data/broadband
demand, up 12% to ₱139.7 billion.
Consolidated EBITDA hit an all-time high, growing
8% year-on-year to ₱96.2 billion, excluding Manpower
Reduction Program expenses of ₱0.3 billion, driven by
higher service revenues. The EBITDA margin was at 52%
in 2021, from 51% in 2020.
Telco Core Income, excluding the impact of asset sales
and Voyager Innovations, climbed 8% to ₱30.2 billion
ahead of earnings guidance, while Reported Net Income,
which includes exceptional costs, jumped by ₱2.1 billion or
9% to ₱26.4 billion.
Staying keenly focused on the customer
Last June, as I discharged my final duty as President and
CEO of PLDT to Al Panlilio, I said: “no matter how robust
our profits may be in any year, we must stay keenly
focused in serving our customers, especially during crises.”
Home: leading the charge
Fueled by strong execution in serving the robust market
demand, PLDT’s fiber-to-the-home business delivered
record breaking growth in 2021. Year-on-year, fiber
revenues grew 82% or ₱14.9 billion to ₱33 billion. Home
broadband grew 29%, which accounted for 63% of the
increase in data/broadband for the year. Overall, Home
service revenues grew 24% or ₱9.3 billion to ₱47.8 billion,
a record.
The increased pace of installations, enabled by the
fast-tracked nationwide fiber rollout, exceeding the
original target for the year and bringing PLDT’s total
fixed broadband customers to nearly 3 million, a record
high. In 2022, the Home team aims to hit as many as
145,000 monthly average installations, targeting deeper
penetration in Luzon and new areas for growth in Visayas
and Mindanao, expanding to more barangays.
Accelerating the upward momentum since 2016, Home
revenues grew from ₱29.3 billion to ₱47.8 billion, led
by data. Fiber only revenues now take up 69% of total
Home revenues, up from 47% from a year ago. Total fiber
capacity of PLDT Home now stands at 5.77 million ports
following the completion of 1.7 million fiber ports in 2021.
Total target port build-out for 2022 is 1.7 million ports.
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HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
Home is likely to grow its revenues at an accelerated pace
as it adds more fiber customers, with the market still
underpenetrated at approximately 20%, compared with
up to 50% penetration in the Asian region. There is still
room to grow.
Enterprise: scaling new highs
Despite the prolonged COVID-19 challenges on
businesses, Enterprise revenues in the fourth quarter
of 2021 surpassed ₱11 billion for the first time, up 9% or
₱0.9 billion from the same quarter in 2020. For the year,
Enterprise revenues rose 4% or ₱1.5 billion to ₱42.2 billion.
Since 2016, Enterprise revenues have seen an
uninterrupted sequential rise in revenues, from ₱31.3
billion in 2016 to ₱42.2 billion in 2021, putting it on track for
a breakout this year. Within data/broadband revenues, ICT
and corporate data grew 14% and 6%, respectively, year-
on-year.
Enterprise expects the pipeline of 2021 leads to be
monetized this year, as well as break ground for the first
hyperscaler data center in the Philippines.
Fixed wireless: bright spot
Fixed wireless appears to be a bright spot in the Individual
Wireless business. As limited mobility confined customers
to their homes, revenues from Smart’s fixed wireless
solutions grew 47%, or ₱1 billion, to ₱3.3 billion. Though
still in its early days of adoption with a little over a million
unique devices using 5G, we will continue to maximize our
investment in 5G.
Elevating customer experience
International user-based studies reaffirm the Group’s
delivery of a far superior network. PLDT and Smart have
reasserted their dominance as the fastest broadband and
5G mobile network in the Philippines in the second half of
2021, according to Ookla®.
Smart have swept the Ookla Speedtest Awards™ in all the
quarters of 2021.
Smart also won in all seven categories of Opensignal’s
first 5G Experience Report for the Philippines. Smart is the
outright winner in five out of seven categories, including
5G Availability, 5G Download Speed, 5G Upload Speed, 5G
Video Experience, and 5G Games Experience. Opensignal
also declared Smart a joint winner in the remaining two
categories - 5G Reach and 5G Voice App Experience.
According to Germany-based umlaut, Smart has also
garnered its “Best in Test” award in 2021 for delivering
the Philippines’ best-rated broadband coverage, user
download experience and latency experience.
Targeting free cash flow
PLDT put to good use its capital expenditures, continuing
the network buildout, elevating customer experience.
Network-related initiatives made up bulk of the ₱89
billion spend for 2021, which is in line with guidance.
These network initiatives include its LTE and 5G rollout,
migration of customers from copper to fiber, and the
fiberization of base stations. This capex also includes ₱17.5
billion for business capex directly in support of last-mile
and new connects with immediate revenue contribution.
This brings total capex spent over the last 10 years to
a record ₱518.5 billion. For 2022, in line with resource
optimization plans, PLDT is expected to invest in demand-
driven capex of between ₱76-80 billion, underpinning
aims to achieve higher free cash flow, alongside revenue
growth.
Maya Bank: unlocking value
Maximizing the Group’s digital ecosystem, PayMaya, in
tandem with Maya Bank, is leading the charge in creating
game changing experiences that will make money work
for Filipinos, especially the unbanked and underserved
consumers and MSMEs.
Smart won Ookla’s Speedtest Awards for Q3-Q4 2021 with
a Speed Score of 201.95, whereas PLDT is the country’s
Fastest Broadband during the same period with a Speed
Score of 77.24. Having won ‘fastest 5G mobile network’
and ‘fastest broadband’ awards for Q1-Q2, PLDT and
With PLDT and Smart’s unrivaled network and PayMaya’s
unique end-to-end financial services ecosystem, we are
making the everyday lives of Filipinos better through
technology. With the soon-to-be-launched Maya Bank, we
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PLDT 2021 ANNUAL REPORT
technology. With the soon-to-be-launched Maya Bank, we
are bringing more value to our customers with relevant
financial services such as savings, credit, insurance, crypto,
and investment.
2022 will support the growth in our home broadband
business, which will continue to be the main driver for us,
as improved mobility is not expected to slow momentum
down.
Sustainability
Sustainability is high in the President and CEO’s agenda,
one of the four key fulcrums embedded in the business.
Given the surprises of the unknown, we can only draw
courage from our past.
As Chairman, Sustainability is one of three critical strategic
areas I am personally working on, principally carbon
neutrality and environmental protection, alongside
Digitalization of processes and business models, with
emphasis on innovation. The third critical strategic area
is exploring and developing new businesses, with the
collective aspiration of being able to assert that we’re able
to improve lives beyond making profit, serving customers
with world-class service.
Farewell Secretary Bobby
Before I conclude, I wish to lend tribute to my friend, the
late Roberto “Bobby” R. Romulo, former PLDT Chairman of
the Board and Advisory Board Member. Former Foreign
Affairs Secretary Romulo served on the Board of PLDT
for more than 20 years: first as chairman in the 90s, then
as a member of the ePLDT Board, and in his later years,
an Adviser to the Board. He has been a business leader,
a true colleague, and a steadfast supporter of PLDT and
Smart. He has been a true patriot of the Philippines. Rest
in peace, Secretary Bobby, in the good hands of the Lord
and in the tender embrace of our Blessed Mother.
Outlook
2022 is likely to offer unique challenges against the
backdrop of potentially elevated inflation, as well as the
growing case for higher interest rates.
I’ve seen firsthand the ordeals and triumphs of this
company over the past 24 years, especially at a time of
trauma and decline for PLDT when I had my own dark
nights of doubt and long days for despondency. I would
be less than honest if I say that I knew from the start
what to do, where PLDT should be going. But because
we came together as one, hope was nurtured. And we
healed, and more valiantly so through a pandemic.
We confidently face the future – resolute to do our
duty well, resolute to uphold our values by deed and by
word, resolute to attain our highest goals, in keeping
families connected, entertained, and educated; enabling
businesses to operate at home or in the office – and
simply being a source of strength amidst extraordinary
adversity and affliction, and above all, resolute in
preserving the ground we have retaken; never again shall
we yield.
I envision PLDT dauntless in facing crises of the worst kind
as we did with COVID, fearless in embracing opportunities
for innovation or expansion, fearless in transforming to
thrive. I thank our shareholders, our Management and
Staff, for the continued support, trust and confidence.
Together, we will prevail.
With peak capex now behind us, we are in a good position
network-wise, and we are now focusing on generating
positive free cash flow. Our target reduced capex for
Manuel V. Pangilinan
Chairman of the Board
Before I conclude, I wish to lend tribute to my friend, the
late Roberto “Bobby” R. Romulo, former PLDT Chairman of
the Board and Advisory Board Member. Former Foreign
Affairs Secretary Romulo served on the Board of PLDT for
more than 20 years: first as chairman in the 90s, then as
a member of the ePLDT Board, and in his later years, an
Adviser to the Board. He has been a business leader, a true
colleague, and a steadfast supporter of PLDT and Smart.
He has been a true patriot of the Philippines. Rest in peace,
Secretary Bobby, in the good hands of the Lord and in the
tender embrace of our Blessed Mother.
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HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
LETTER FROM THE
PRESIDENT AND CEO
We have set the
foundation for
2022 and beyond
TO MY FELLOW SHAREHOLDERS,
2021 proved to be a record-breaking
year for PLDT as we delivered all-
time highs across the board, on
the back of the resilience of our
different businesses. Challenges
that were brought about by the
continued pandemic amidst the
backdrop of a weak economy,
shifting market conditions,
increased competitive activity and
natural calamities only emphasized
the importance of being agile.
I have always believed that instead of allowing difficult
times to pull us back, we must bravely keep everyone
focused on a mission, driven with a shared sense of
purpose.
Building on the legacy that Chairman MVP started,
our goal has been to drive PLDT to further success as a
customer-centric and leading-edge technology company
that empowers all Filipinos in building a stronger nation.
We must provide world-class connectivity as a basic
human right, assert the Philippines as a key player in
the global arena, and actively embark on sustainable
development to secure everyone’s future.
2021 Performance Highlights
We carried out on these commitments throughout
2021 despite persistent challenges in our operating
environment - and all the hard work of our over 16,000
employees across PLDT and Smart proved to be worth it.
PLDT attained the highest full year revenue ever in 2021,
with consolidated service revenues of ₱182.1 billion.
Consolidated Service Revenues in the fourth quarter
reached a historic high of ₱46.2 billion. Telco Core Income
grew by 8% to ₱30.2 billion while consolidated EBITDA
reached an all-time high of ₱96.2 billion, a growth of 8%
year-on-year.
Despite mobility restrictions, we were able to put capital
expenditures to work by carrying on with our nationwide
network rollout, which constituted the majority of our ₱89
billion CAPEX for 2021.
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PLDT 2021 ANNUAL REPORT
Our exceptional performance in 2021 sets
the foundation for 2022 and beyond as we
continue to build on our strengths as the
Philippines’ largest and most diversified fully
integrated telecommunications company.
With our strategic transformation initiative
and evolving fintech ecosystem in place,
we are well positioned to be the best in
customer experience and maintain our
growth momentum.
In line with PLDT’s dividend policy of paying out 60% of
telco core earnings, total dividends paid for 2021 earnings
amounted to ₱84 per share. Based on the closing share
price on the last trading day of 2021, dividend yield stood
at 5%. The Group also maintained credit ratings from
Moody’s and S&P Global at investment grade.
Customers as our North Star
Our exceptional performance in 2021 sets the foundation
for 2022 and beyond as we continue to build on our
strengths as the Philippines’ largest and most diversified
fully integrated telecommunications company.
With our strategic transformation initiative and evolving
fintech ecosystem in place, we are well positioned to
be the best in customer experience and maintain our
growth momentum. We are cognizant of what we need to
continuously improve on in terms of service metrics and
operations using automation, and we shall empower our
people and processes with technology aimed at delivering
the best for our customers.
Home: accelerating upward momentum
PLDT’s stellar financial results in 2021 were led by the
double-digit growth of our fiber-to-the-home business.
Service revenues of PLDT Home soared to an all-time high
of ₱47.8 billion, posting 24% growth from ₱38.5 billion in
2020.
Full year fiber-only revenues of ₱33 billion posted 82%
growth of ₱14.9 billion from the previous year, while fiber-
only fourth quarter revenues reached a historic level of
₱9.8 billion, a 91% increase year-on-year.
By the end of 2021, we exceeded targets and connected
1.13 million new fiber customers, bringing our total fixed
broadband subscribers to nearly 3 million for a growth of
30% year-on-year.
As we target wider penetration in Luzon and reach for
new growth areas in Visayas and Mindanao this year,
we have high expectations that our Home business will
surpass its record growth from 2021. Pandemic restrictions
in the Philippines have eased as of writing, and we expect
this to help us ramp up our installations to serve latent
demand. The upcoming conclusion of our migration
campaign that will elevate the experience of customers, at
no cost to them, is a critical part of our continuing efforts
to maintain network superiority.
Enterprise: building back better
Services aimed at helping businesses and organizations
build back better resulted to full year revenues of ₱42.2
billion for PLDT Enterprise, up by 4% year-on-year. Fourth
quarter revenues reflected 9% growth from the same
quarter in 2020 as the corporate business unit surpassed
₱11 billion for the first time.
Within data and broadband revenues, ICT and corporate
data increased by 14% and 6% year-on-year, respectively.
Wireless Enterprise revenues increased significantly
beyond mere connectivity, rising on the back of wireless
solutions availed of by enterprise clients.
PLDT Enterprise is confident to outperform 2021, with
investments in building digital transformation domain
expertise and leading platforms for SMEs, corporations,
public sector organizations, and global businesses.
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HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
Aimed at positioning the Philippines as the next
hyperscaler destination of Asia Pacific and supporting
the nation’s next growth engine, our ICT arm ePLDT
has also commenced construction of what will be the
largest data center campus in the country. The soon-
to-rise LEED certified, Tier-3 Certified, and Tier-4 Ready
hyperscale facility in PLDT’s five-hectare property in the
booming industrial city of Sta. Rosa, Laguna will be the
most robust facility in our suite of 11 data centers. A facility
of this caliber only ensures the best possible customer
experience not only for our hyperscaler clients, but also for
the Filipino end-users consuming their services.
Individual Wireless: holding the fort
Smart sustained its size in spite of a challenged industry
and the lack of mobility driven by the pandemic.
Individual Wireless recorded full-year revenues of ₱86.2
billion, matching the previous year’s revenue high.
Data and broadband contributed 80% of the segment’s
revenues. We also achieved parity of 36% market share
with our main competitor targeting Gen Z users.
Smart’s 42.6 million active data users posted double-
digit growth of 11% year-on-year. Strategic brand building
campaigns and product innovations, funneled mainly
to more than 10 million users of Smart’s GigaLife mobile
app, increased brand relevance and enabled stronger
customer digital adoption. Smart continued to drive
Gigalife app adoption to post 80% ARPU growth versus
non-GigaLife users.
Fourth quarter data traffic on Smart’s 5G network grew by
72% compared with the previous quarter, and increased
over 33 times more versus the fourth quarter of 2020. This
growth was driven by aggressive 5G handset and usage
offers of Smart Signature, the launch of Smart Bro’s 5G
Rocket Wifi, and the Unli 5G offers via the prepaid brands.
We recognize that the Philippine mobile market is likely
at saturation point. However, we are confident that as
full mobility resumes and economic activity increases,
combined with the increasing adoption of 5G, we will see
a lift in Individual wireless revenues in 2022.
PayMaya: maximizing synergies
We ramped up integration of financial services into our
digital ecosystem by maximizing the synergies between
PLDT, Smart, and our financial technology affiliate
PayMaya. Powered by our robust integrated network,
PayMaya’s end-to-end financial services ecosystem is
expected to make digital payments and e-commerce
more accessible to PLDT and Smart customers, aligned
with our group-wide commitment to bring world-class
services to more Filipinos.
With 44 million registered customers as of end-2021,
PayMaya is the leading enterprise payments processor
with half a million points of acceptance nationwide. Smart
Padala centers serve as digital financial services hubs in
grassroots communities, with over 63,000 agent network
touchpoints covering 92% of the Philippines.
PayMaya is set to transform the fintech space as Maya
Bank successfully secured a digital banking license from
the Bangko Sentral ng Pilipinas in September 2021. The
bank will offer specialized lending and deposit products
for the unbanked and underserved consumer and micro,
small and medium enterprises (MSMEs) segments, and
expand the services for the MVP group of companies.
Ramped up network rollout
Critical to our group-wide promise of delivering world-
class experience to our millions of customers, we ramped
up our network buildout throughout 2021 to reach more
homes across the country.
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PLDT 2021 ANNUAL REPORT
We placed our ambitions high for 2022: To be the best
in connectivity markets, best in ICT markets, and best in
capital markets. We have set our transformation goals:
to become a company that our customers advocate for,
our competitors admire, our shareholders value, and our
employees love to work for.
PLDT’s fiber footprint expanded by 73% from end 2020 to
over 743,700 kilometers, with homes passed at nearly 14
million. This is significantly higher than 9 million homes
passed at the end of 2020. We recorded 5.77 million ports
by end-2021, and 1.7 million more will be built this 2022 to
power more homes with fiber connectivity.
Completing PLDT’s network, our robust and resilient
domestic and international cable systems boast of an
unrivaled capacity of 66 TB and 19 TB, respectively. We
invested in two major cable system investments in 2021—
Jupiter and Apricot— to add to our current extensive
participation in 15 international submarine cable systems.
As mobile data traffic continued to grow, Smart’s
nationwide base stations increased to nearly 75,400 by
year-end to support the connectivity needs of our 3G,
4G/LTE and 5G customers from Batanes to Tawi-Tawi.
This includes approximately 7,200 5G base stations – the
largest 5G network in the Philippines – making Smart
well-positioned to capture and support the growing 5G
adoption in the country.
Attesting to the success of our aggressive network
buildout, international user-based studies by Ookla,
OpenSignal and umlaut have consistently lauded the
Group’s delivery of a far superior, fully integrated network.
Sustainability: Connection, Conservation,
Concern and Commitment
With sustainability high on the agenda of our Leaders, we
have recalibrated and progressed in our Environmental,
Social, and Governance (ESG) undertakings.
In support of achieving Net Zero by 2050, we are
prioritizing a decarbonization roadmap that will prioritize
initiatives in energy efficiency, the use of renewables, and
green network technology.
Under the Social pillar, we expanded our digital inclusion
commitments through programs that promote online
safety, aimed to complement our long-running education
and livelihood initiatives. Our disaster preparedness and
relief response initiatives, particularly our efforts following
Super Typhoon Odette (Rai) in December 2021, underscore
our group-wide thrust of creating a #SafeandSmart
Philippines.
As a customer-centric company with a people-first
culture, we prioritized the primary and booster COVID-19
vaccination of our employees and their loved ones, with
99.9% of our employees fully vaccinated as of writing. We
also launched landmark employee initiatives for women
and LGBTQ+ employees to uphold gender equality in our
workplace.
2022: Transform to Thrive
The transformation undertaken by PLDT and Smart in
2016, led by our Chairman MVP, is now powering the
country’s digital economy and has enabled us to achieve
historic highs in 2021. Building on the gains we have made
since then, we are aware of how rapidly shifting market
conditions and aggressive competitive activity require us
to continuously evolve. What has gotten us to where we
are now is no longer enough to take us to where we need
to be, as we placed our ambitions high for 2022: To be the
best in connectivity markets, best in ICT markets, and best
in capital markets.
That being said, we are ready to level up our
transformation and reach new heights with an
aspirational PLDT 2025 vision and strategy. Our
transformation aims to deliver a holistic financial and non-
financial impact through a new way of working, with clear
fact base, accountability and high pace execution.
We have set our transformation goals: to become
a company that our customers advocate for, our
competitors admire, our shareholders value, and our
employees love to work for. As we journey on this program
towards PLDT 2025, I look forward to transforming to
thrive as we craft this new future for PLDT.
Alfredo S. Panlilio
PLDT and Smart President and CEO
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HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
AWARDS AND
RECOGNITIONS
12
PLDT 2021 ANNUAL REPORT
Winning as One
After having survived and thrived for a
year under the most extraordinary
circumstances due to the COVID-19
pandemic, PLDT remains committed to its
mission of delivering innovative, relevant,
and invaluable services to its customers.
As one, the PLDT Group is honored and
humbled by recognitions of respected
industry organizations in various fields
affirming the Company’s endeavors in
powering homes, businesses,
communities, and the “Fiber Life.” These
awards are dedicated to every employee
at the PLDT Group for their relentless
commitment to deliver quality service,
as demand for connectivity soars to
unprecedented levels.
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HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
Ookla® Awards
▶ Fastest Fixed Internet Award Philippines
Q3-Q4 2021 – PLDT
▶ Fastest Fixed Internet Award Philippines
Q1-Q2 2021 – PLDT
▶ Fastest Mobile Network Award Philippines
Q1-Q2 2021 – Smart
▶ Fastest 5G Mobile Network Awards Philippines
Q3-Q4 2021 - Smart
▶ Fastest 5G Mobile Network Awards Philippines
Q1-Q2 2021 - Smart
Opensignal 5G Mobile
April 2021 Report – Smart awards
Best Video Experience
Best Games Experience
Best Voice App Experience
Best DL Experience
Best UL Experience
Best 4G Availability
Best 4G Coverage
October 2021 Report – Smart awards
Best Video Experience
Best Games Experience
Best Voice App Experience
Best DL Experience
Best UL Experience
Best 4G Coverage
Best 5G Availability
Best 5G Video Experience
Best 5G Games Experience
Best 5G DL Speed
Best 5G UL Speed
Asiamoney’s 2021 Outstanding Companies Poll
Most Outstanding Company in the
Philippines: Telecoms Sector – PLDT
ING Bank - Financial Executives
Institute of the Philippines
▶ ING-FINEX CFO of the Year – PLDT Chief Finance Officer
Anabelle L. Chua
CSO30 ASEAN Awards 2021 of
International Data Group (IDG)
▶ CSO Leadership Award - PLDT and Smart FVP Group
Chief Information Security Officer Angel T. Redoble
CISO Connect Top 100 CISOs (C100) Recognition
▶ Visionary CISO Award - PLDT and Smart FVP and Group
Chief Information Security Officer Angel T. Redoble
AsiaMoney 2021 Outstanding Companies Poll
▶ Most Outstanding Company in the Ph:
Telecommunications Services Sector - PLDT
▶ Business-to-Business: Inhouse - PLDT Enterprise’s MVP
Bossing
Asia Communication Awards 2021
▶ Social Contribution Award ACA 2021 – “FarmSmart”
Asia Pacific Stevie Awards 2021
▶ Gold Stevie for Innovation in Public Relations Videos –
PLDT and Smart “Connected by Hope” AVP
▶ Silver Stevie for Most Valuable Corporate Response -
PLDT and Smart #StayHome, #StaySmart omnibus
▶ Bronze Stevie for Innovation in Community Relations &
Public Service – PLDT and Smart “NoLearnerLeftBehind”
Group-wide education initiatives
▶ Bronze Stevie for Innovation in Events – PLDT
Enterprise’s IMPACT: Philippine Digital Convention 2020
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PLDT 2021 ANNUAL REPORT
LinkedIn
▶ #StayHomeSeries: PLDT Home turns quarantine time
▶ #2 of the 15 best workplaces to grow your career in the
Philippines - Smart Communications
Philippine Extension and
Advisory Services Network, Inc.
to quality time
▶ HOT JOE Online: Pasasalamat Issue
▶ LearnSmart: Helping create a #NoLearnerLeftBehind
Nation through digital technology
▶ Love comes in all shapes, sizes, and paws with PLDT’s
#ComeHomeToLove Valentine’s Day campaign
▶ 2021 Outstanding Extension Project Award for Digital
▶ Kalye Mabunga: Building food-secure communities
Farmer Program (DA-ATI entry)
one ‘kalye’ at a time
Reader’s Digest Trusted Brands
▶ No Learner Left Behind: A PLDT Home Virtual Benefit
Concert
▶ PLDT- Smart Cyber Security Awareness Campaign:
▶ Platinum Award in Broadband/Fiber – PLDT HOME Fiber
Empowering employees through online safety
World Benchmarking Alliance
▶ PLDT Home brings the Holideals to Filipinos
▶ School-in-a-Bag: Leveraging Partnerships for
Education
▶ #12 in Digital Inclusion Benchmark’s 150 most influential
▶ Smart Communities and the UNSDGs: Technology for
technology companies in the world
GOOD, Technology for Development
World Communication Awards 2021 (WCA)
▶ WCA Honor Roll: Highly Commended - Smart
Communications, Inc.
56th Anvil Awards
Company of the Year
▶ PLDT and Smart
Platinum Anvil Award
▶ TNT Giga Stories
▶ TNT Big Bente
Partner Awards
Alibaba Cloud
▶ Project of the Year Award – PLDT Global Enterprise
collaboration for digital and cloud solutions to the
Esport matches during the 30th Southeast Asian (SEA)
Games
▶ #CyberSmart Caravans: Promoting Cyber Security and
Cisco
Safety among Teachers and Students
Gold Anvil Awards
▶ Small Business Partner for Best Cisco Designed
Portfolio - ePLDT
▶ #CyberSmart Caravans: Promoting Cyber Security and
Microsoft
Safety among Teachers and Students
▶ #StayHome: PLDT Home Turns Quarantine Time to
▶ Gold Competency for Security - ePLDT
Quality Time
Silver Anvil Awards
▶ #LearnSmart eLearning Sessions: Ensuring Continued
Learning during a Pandemic
▶ Gold Comptency for Enterprise Mobility Management
– ePLDT
▶ Silver Competency in Microsoft’s Project Portfolio
Management - ePLDT
▶ #LearnSmart eLearning Sessions: Ensuring continued
MuleSoft
learning even while in quarantine
▶ Value-Added Reseller – ePLDT
15
CORPORATE
MILESTONES
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Doing it better.
“I lost almost everything during the
pandemic with the startup I built from
the ground up, but we never quit on our
dreams. So, I pivoted my clothing business
into PPEs and created a digital company
moving forward. Now it’s time to level up
and do better business at home.”
Roxanne Montealegre
Home-based entrepreneur
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HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
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PLDT 2021 ANNUAL REPORT
THE FUTURE IS IN OUR FIBER
The country’s fastest broadband network, PLDT Home, remains as the center of enabling Filipinos to thrive
better at home powered by the best digital solutions.
Empowering Filipinos to Do Things Better
▶ PLDT Home boosted its efforts to level up the digital experience of subscribers by launching its biggest
speed upgrade with thrice as much speeds versus the previous broadband plans. That means PLDT
Home Unli Fibr Plan 2699 subscribers getting instantly upgraded from 100 Mbps to 300 Mbps and Unli
Fibr Plan 3799 subscribers jumping from 200 Mbps to 600 Mbps. From February to May 2021, PLDT
Home Fiber subscribers also enjoyed a limited-time offer of free speed boost of up to 500 Mbps. All PLDT
Home subscribers enjoyed these automatic speed upgrades without additional cost or applying for plan
upgrade.
▶ In its aim to better serve customers during the pandemic, PLDT Home introduced an online booking
appointment accessible through the PLDT Home website (pldthome.com). This new service provided
customers the convenience of booking either a virtual or in-store appointment with a PLDT representative
in their preferred PLDT sales and service center.
Connecting Filipinos to Future-Ready Innovations
▶ In a history-making move towards the future of home connectivity, PLDT Home also introduced the
first-ever 10,000 Mbps fiber optic service in the Philippines, setting the bar for internet speeds in the
Philippines and is expected to rollout in more areas in 2022. This puts the country next to first-world
nations that have access to such ultra-fast home internet speeds such as South Korea, Japan, and USA.
▶ PLDT Home strengthened its Smart Home digital ecosystem built on the following pillars: connectivity,
entertainment, and peace of mind. PLDT Home introduced the most powerful Wifi Mesh Systems – such
as the top-of-the-line Wifi 6 solutions and Wifi 5 Mesh systems – that are designed to blanket the entire
home with wireless connectivity and enabling families to enjoy seamless digital experience when working,
studying, and playing at home.
▶ In the middle of a global health crisis, PLDT Home also strengthened its peace of mind pillar by making
better healthcare accessible to more Filipinos. PLDT Home partnered with Metro Pacific Investments
Corporation (MPIC) to bring mWell, the country’s first fully integrated, health and wellness app. Through
the partnership, PLDT Home customers get free online consultations with mWell doctors, free access to
fitness and nutrition programs, and discounts on COVID-19 tests.
▶ PLDT Home also continued to offer the best of entertainment content for families at home collaborating
with Viu, PCCW’s leading pan-regional OTT video streaming service, to offer top class Korean
entertainment to Filipino fans. This enabled customers to enjoy topnotch entertainment by continuously
providing access to the best movies and sports content from the video-on-demand service HBO Go and
NBA League Pass.
▶ PLDT Home also successfully powered the biggest international e-sports competition and convention in
Southeast Asia, the Esports and Gaming Summit (ESGS) that virtually brought in thousands of esports
athletes, fans and enthusiasts from all over the region.
Rewarding Loyal PLDT Home Subscribers
▶ PLDT Home introduced a grander rewards and loyalty program, PLDT Home Rewards. With this new
program, subscribers can earn and use their earned crystals to get bill rebates, pay for PLDT and Smart
products and services, accumulate raffle entries and instantly avail of exclusive deals and discounts from
more partner merchants.
▶ Loyal customers were treated to its biggest promo yet, the PLDT Home Rewards Grand Giveaway where
one lucky winner won the Php 5 Million grand prize. Aside from this, PLDT Home Rewards gave away
more exciting prizes such as Php 500,000.00 worth of home makeover packages.
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HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
▶ For the ultimate shopping spree, PLDT Home Rewards also partnered with Shopee and SM to give away
Php 1 Million worth of ShopeePay credits to ten (10) lucky winners and ten (10) SM Gift cards worth Php
150,000 each.
▶ Together with PayMaya subscribers were treated to a convenient and rewarding experience of earning
cashback vouchers as they paid their bills directly through the PayMaya app. Users who paid their PLDT
Home bills for the first time earned Php 100 cashback voucher and Php50 cashback on subsequent
payments done through the PayMaya app.
Enabling Entrepreneurs to Master their Home Business
▶ In its commitment to help build and enable this business sector through digital acceleration, PLDT Home
introduced the all-new Home Biz Fibr Asenso Plans with faster speeds and better e-commerce solutions
especially designed for home-based entrepreneurs. These enable home-based entrepreneurs to do
more with their businesses with faster internet speeds, free digital solutions from e-commerce partners,
seamless unlimited calls to any PLDT landline and to any Smart, Sun or TNT mobile number, and a free
CAT 6 Prepaid Home Wi-fi as a mobile back-up internet so that their business always stays connected.
▶ PLDT Home Biz has teamed up with the country’s top digital solution providers for end-to-end business
solutions such as online store builder and hosting by UnionBank GlobalLinker, secure and hassle-free
online payments by PayMaya, and delivery options by Grab and LBC.
▶ In partnership with the Department of Trade and Industry (DTI), PLDT Home Biz also gives home-based
entrepreneurs direct access to the latest business trends and learning opportunities through DTI’s virtual
expos.
▶ Further enabling Filipino business owners with the strongest connections and the most reliable digital
tools, PLDT Home Biz also powered the Madiskarte Moms PH, a Facebook community that has over
104,000 home-based “mompreneur” members. Together with its highly engaging YouTube channel,
Madiskarte Moms PH is a safe, friendly space where beginners can interact with more seasoned sellers for
tried and tested tips on growing a business while attending to their duties at home.
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PLDT 2021 ANNUAL REPORT
ENTERPRISE
PLDT Enterprise continues to strive to achieve its mission – to make a positive impact on every single
business - through continuous innovations and activities that help support enterprises in their digital
transformation through its wide range of fixed, wireless, and ICT solutions, amidst challenging times.
UNBREAKABLE: PLDT Enterprise honors resiliency of Filipino businesses
PLDT Enterprise pays tribute to businesses of all sizes that have emerged forever changed after all they
have been through -- more open to challenges, tougher, fearless, through its 2021 brand campaign,
“Unbreakable”. This is PLDT Enterprise’s acknowledgement of the resilience and complete confidence in
the “Unbreakable” spirit of the Filipino entrepreneur and businesses. Amid the pandemic, PLDT delivered
the necessary support and expertise to their customers so they can ensure business continuity. Promoting
Digital adoption, one of the key elements to business continuity in this new normal, the group continues
to support customers in selecting the most appropriate digital technologies for their operations to ensure
resilience and preparation for future disruptions.
Addressing demand for reliable high-speed connectivity
Through BEYOND FIBER, PLDT dares businesses to go beyond with its business-grade fiber and curated
digital solutions, making it the most reliable partner for today’s digital new normal. With a boosted
minimum speed that’s three times (3x) higher than regular fiber connections, entrepreneurs have a reliable
business internet for them to accomplish things they need to do online regardless which time of the day.
Fostering the future of office connectivity with SD-WAN
Helping businesses navigate their digital foray in the ‘new normal’, PLDT’s SD-WAN or Software-Defined
Wide-area Network technology makes it easy for businesses - including retailers, food chains, distributors,
and start-ups, to better manage their business operations. It provides the utmost in reliability as it links
up their remote workers, offices and branches with combined fiber and wireless connectivity with fully
managed business applications, at affordable price points.
Introducing Smart Bro 5G for businesses
PLDT Enterprise and Smart unveiled the Smart Bro 5G Plans for business—equipping more enterprises with
the latest in technology, running on the country’s fastest mobile network. All Smart Bro plans today under
PLDT Enterprise are 5G ready, with Smart Bro Plans 1899 and Plan 3500 which include 90GB and 200GB
respectively.
Powering Cavite towards becoming the first province-wide ‘Smart City’
PLDT partnered with the Cavite local government for the rollout of a massive fiber network for the
province’s digital roadmap towards becoming a ‘Smart City.’PLDT Enterprise, Smart, and ePLDT will help
the city activate the Cavite Managed Broadband Network Service (MBNS), an end-to-end solution that will
enable world-class internet to the province’s 23 cities and municipalities. The fiberization project includes
the provisioning of a fully underground fiber optic cable backbone providing free internet access to over 23
cities and municipalities, 129 public elementary and secondary schools, and 42 public places around the city
and municipal halls.
Connecting 1M teachers with Smart Giga Study plans nationwide
Through the Department of Education, Smart is helping empower one million public school teachers with
data connectivity make their daily teaching tasks easier and practicable. Through Smart Giga Study plans,
it will equip teachers, who play a critical role in delivering inclusive education, with the necessary tools and
connectivity to enable them in their arduous daily task of providing quality online teaching to students.
The Giga Study plans is a tailor-fit data package that gives users access to a selection of learning apps and
productivity tools.
PLDT Enterprise opens Philippine Digital Convention 2021: REVOLUTION
PLDT Enterprise officially opens the country’s most prestigious digital thought leadership event, the
Philippine Digital Convention 2021 (PH Digicon 2021), where global industry experts, thought leaders,
and pioneers in technology gathered to drive technological empowerment among enterprises across
the country. With the theme “REVOLUTION,” this year’s convention encouraged delegates to explore the
possibilities of the new world of business and embrace the revolutionary change needed to stay ahead in
the ever-changing business landscape.
The plenary sessions featured several executives from global tech companies and celebrity speaker,
Academy award-winning actress, film/TV producer and UN Messenger of Peace Charlize Theron.
21
Enabling a truly connected world for businesses with ‘Internet of Possibilities’
PLDT and Smart launched the newest digital offering, the Internet of Possibilities which aims to open
up new possibilities for Internet of Things (IoT) applications and deployment among enterprises and
consumers in the country. It is a unified platform for the effective management of connectivity and usage
of a multitude of connected IoT devices within enterprises which seamlessly integrates existing business
processes into a common, open platform for data and insights.
ePLDT pioneers Salesforce Commerce Cloud in PH
A first in the Philippines, ePLDT launches and offers Salesforce Commerce Cloud, a cloud-based ecommerce
solution that simplifies personalized shipping experience for businesses and their end-customers. Salesforce
Commerce Cloud enables businesses to adopt a unified, intelligent digital commerce experience – both
online and in the store. ePLDT’s operations team also completed specialized trainings and certifications on
Salesforce B2C Commerce Cloud to strengthen the group’s competency in providing the service.
Promoting PH as the Hyperscaler Hub of Asia Pacific
Strongly collaborating with the Department of Trade and Industry (DTI) and the Philippine Board of
Investments (BOI), PLDT Enterprise fully supports the priming of the country’s digital readiness in a multi-
agency government initiative to attract global hyperscalers expanding in Asia. DTI and BOI announced
the inclusion of hyperscalers as the sixth key sector under its “Make It Happen in the Philippines” (MIH)
campaign, stressing various strategies to promote the Philippines as the next hyperscaler hub in the Asia
Pacific.
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PLDT to build world-class hyperscaler data center facility, a first in the Philippines
The PLDT Group is set to build the first and biggest data center in the country designed to service the
massive power and IT requirements of global hyperscalers - the first of its kind. The facility will be Tier-3
certified and Tier-4 ready once it starts operations. It will have more power capacity in one facility than
all 10 VITRO data centers combined and designed to be global class in energy efficiency and make use
of the latest in green technology
ePLDT expands TIA-942 certifications to four data centers—most in PH
ePLDT further continues to fortify the reliability of its data center services as it expands its TIA-942
Design Certifications to four data centers—currently the most number of the said global certification
achieved by a data center service provider in the country. The design certification means that ePLDT’s
data center facilities conform to the stringent standards of TIA-942 guidelines ensuring that any data
center component.
ePLDT, MPower partner for the largest renewable energy supply in PH data centers
Furthering its commitment to sustainability, ePLDT partners with MPower—the local retail electricity
supply arm of Meralco—for its largest allocation of both contracted power and renewable energy supply
that will sustain the group’s data centers in the country. Through the partnership, MPower’s renewable
energy supply will help decarbonize ePLDT’s VITRO data centers in line with the PLDT group’s
sustainability roadmap and in support of the carbon neutrality commitments of hyperscaler companies.
ePLDT launches first dedicated disaster recovery facility in Cebu
ePLDT launched its first disaster recovery (DR) facility in Cebu. Housed in ePLDT’s VITRO Data Center
Cebu 2—the biggest purpose-built data center facility outside Luzon—the disaster recovery facility will
enable Cebu-based enterprises in developing their own Business Continuity Plan (BCP) and becoming
compliant with global standards.
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GLOBAL
▶ PLDT Global Corporation (PLDT Global) celebrates its 20th anniversary of championing technology
for Filipinos and enterprises overseas by ensuring a stronger footprint in international connectivity
infrastructure and innovative products and services
▶ PLDT Global expands its global virtual footprint to more countries in Asia, North America, and Europe to
equip businesses with best-in-class technology solutions through various points of presence.
▶ Launched #PeopleofPGC and sent health kits, provided employees with work-from-home subsidies, and
expanded employee benefits amid the pandemic
▶ PLDT Global expanded its reach in the Middle East and Canada by partnering with CWallet and Hasty
Market, respectively, serving a huge number of OFWs
▶ Strengthened its Free Bee app, allowing OFWs to call and make seamless and worry-free transactions
directly through the app. With over a million downloads, Free Bee has become the go-to app for brands
who want to enter the OFW market. Launched its very first podcast, “Great Connections Podcast” series to
help and inspire Filipinos worldwide.
▶ Announced regional partnerships for connectivity with the physical point-of-presence (PoP) in Japan
▶ Launched OFWins, a bi-monthly promo for overseas Filipinos.
▶ Year 2 of Orange partnership to enhance the experience of PLDT’s international voice customers
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HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
SMART
▶ Launches 5G roaming service in South Korea in partnership with KT Corp., Korea’s largest
telecommunications company.
▶ Launches Rocket WiFi as country’s first 5G Pocket WiFi powered by the fastest and most extensive 5G
network
▶ Champions “Living Smarter for a Better World” in new campaign, putting the spotlight on its long-
running community partnership and corporate social responsibility programs to inspire Filipinos to
commit to “personal revolutions” to generate lasting positive impact to society.
▶ Introduces Unli 5G, its most powerful offer on its fastest technology yet. Unli 5G provides customers with
non-stop data access at Smart 5G-covered areas.
▶ Releases its long-awaited “Live Your Passion with Purpose” campaign headlined by the world’s leading
pop icon, BTS. Shot in Seoul at the height of the global lockdown, the campaign is set to two of the
band’s most recent hits—the inspirational Life Goes On followed by the record-breaking hit Dynamite—
appropriately providing the score to a timely and encouraging message to Filipino ARMY during the
Philippines’ most challenging time.
▶ PLDT, Smart deploy country’s first carbon fiber towers on urban rooftops. Notable for being over 10x
lighter than steel towers, IsoTruss carbon fiber towers are expected to be light enough for installation on
buildings, and compliant with the National Building Code. Will reduce PLDT and Smart’s impact on the
environment, contributing less carbon dioxide and occupying less land area, translating to more efficient
land use.
▶ Successfully makes the country’s first roaming call via Voice over LTE or VoLTE. This milestone was made
in partnership with KT Corp., Korea’s largest telecommunications company.
▶ Smart teams up with digital financial service firm PayMaya to deliver an improved and seamless loading
experience on the GigaLife App with its newest feature GigaPay.
▶ PLDT and Smart explore space-based mobile broadband communications as part of their initiatives to
bring connectivity to more Filipinos across the country. Smart signs a Memorandum of Understanding
(MoU) with US-based AST SpaceMobile, Inc., a company building “the first space-based cellular
broadband network accessible directly by standard mobile phones.” Through this pioneering technology,
Smart’s mobile customers in far-flung areas would be able to enjoy high-speed internet using ordinary
smartphones through the use of low-earth orbit (LEO) satellites --a first in the Philippines.
▶ Smart rolls out Mobile Number Portability (MNP), enabling customers to switch to Smart without having
to change their numbers. Under MNP, customers may also switch their prepaid account to a postpaid
plan and vice-versa without replacing their mobile number.
▶ Smart fires up commercial 5G Standalone (SA) in Makati City, one of ASEAN pioneers. 5G SA technology
paves the way for a variety of new industry applications that utilize 5G’s full features. 5G SA will provide
super-fast response times and faster access to higher data rates that are required by cloud gaming, or
immersive media, for example
▶ Smart exceeds 5G goal for 2021, expanding its nationwide 5G network to around 6,400 base stations as of
end-September, surpassing the initial target of 3,800 5G base stations for 2021.
▶ Smart introduces GigaPlay App to offer free, exclusive content to subscribers. GigaPlay is a new and
handy streaming app especially developed to bring a suite of sports and entertainment content to
subscribers for free.
▶ More than a year after its launch, the GigaLife App reaches 10 million users, driving data usage on Smart’s
network through app-exclusive data offers that have also grown popular among customers.
▶ Smart offers wireless fiber-like speeds to Filipino homes with Smart Bro Home WiFi 5G, the country’s first
ever Prepaid Home WiFi powered by Smart 5G.
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PLDT 2021 ANNUAL REPORT
▶ PLDT and Smart ramp-up their nationwide network rollout, aided by a record number of permits
secured in 2021. Assisted by initiatives led by government agencies such as the Anti-Red Tape
Authority (ARTA), National Telecommunications Commission (NTC) and the Department of Information
and Communications Technology (DICT) to streamline government permitting guidelines for
telecommunications infrastructure, PLDT and Smart have secured more than 45,000 fixed and wireless
permits as of December 31, 2021.
▶ As an official broadcaster of the 2020 Tokyo Olympics, Smart enabled Filipinos and sports fans to catch the
games and cheer for Team Philippines through gigafest.smart, which offered the most comprehensive
online streaming coverage with 10 channels including the Olympics pay-per-view (PPV) channel, pop-up
channel, news channel, and seven ready-to-air channels from the Olympic Broadcasting Service (OBS).
Smart also provided 5G technology and 5G roaming to the coverage teams of TV5, Cignal, and officials
who participated in this much-anticipated event that mirrored the triumph of human spirit against the
challenges of the ongoing pandemic.
25
HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
2021
MILESTONES
Continuing momentum in creating the most comprehensive digital FinServ platform
▶ Only end-to-end digital financial services platform in the Philippines, serving consumers and enterprises
▶ Over 44M registered users served by PayMaya consumer platforms
▶ Largest non-bank payment processor in the Philippines with PayMaya Business
▶ Bridging digital and on-ground with over 63,000 Smart Padala agent network partner touchpoints
Powering the digital life of Filipinos
▶ Consumer wallet
ظ Widest digital goods and billers at over 1,500 in PayMaya app
ظ Wallet with the most FREE cash-in points at over 90,000 touchpoints, with over 120K in total
ظ Most in-app shopping merchants in Maya Mall at over 360 brands
ظ Better Send Money CX with custom themes and real-time transaction history
ظ 99.9% app uptime
▶ Enterprise
ظ Leading the charge for QR Ph for Person-to-Merchant (P2M) deployment with over 400,000 retail
locations enabled with BSP’s national standard
▶ Agent Network
ظ Launched Smart Padala Claim Anywhere service for more convenient remittances
ظ Introduced Western Union international remittance claiming service
▶ Supporting PLDT’s digital transformation for the Philippines
ظ Embedded digital payments in GigaLife with GigaPay with PayMaya
▶ Expanding financial services
ظ Offers insurance and protection products in partnership with insurance providers
and insurtech companies
− PayMaya Protect (COVID-19/Dengue Protect/ Permanent Total Disability) with Pioneer Insurance &
Surety Co. and bolttech
− Mobile Protect for device protection with bolttech
− Buyer Protect with AIG Philippines Insurance, Inc. and bolttech
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PLDT 2021 ANNUAL REPORT
ظ In January 2022, it secured a Virtual Asset Service Provider license, which
allows it to offer services or engage in activities that provide facility for
the transfer or exchange of virtual assets, including cryptocurrency
Driving innovation, working with regulators
and industry to elevate customer experience
▶ Awarded by the BSP as Outstanding Partner at the 2021
BSP Outstanding Stakeholders Ceremony
ظ Received 20 innovation and organizational excellence awards from 6
global and local award giving bodies
ظ Only Ph company recognized by The Payments Association: Winner
of Leading Emerging Payments Organization and Most Innovative
Mobile or Financial Service Payments Solution for PayMaya app
ظ Juniper Future Digital Awards - Best QR Payment
ظ IDC Future Enterprise Awards for the Philippines for Best in Future
of Digital Innovations (PayMaya Negosyo app), and Best in Future
of Intelligence (PayMaya app’s AI-powered electronic KYC process).
▶ Key Signatory for the Fintech Alliance and the eMoney Association of the
Philippines advocacy for the responsible use of digital platforms
▶ Partnered with AMLC for data sharing protocols to protect consumers
▶ Industry advocate of customer-centricity and consumer protection
Set to further accelerate digital FinServ adoption with Maya Bank
▶ In June 2021, Voyager Innovations raised $167 million in fresh funding
from PLDT, KKR, Tencent, and the IFC Financial Institutions Growth Fund
to accelerate digital payments and financial services adoption through
PayMaya and the soon-to-be-launched Maya Bank.
▶ In September 2021, the Monetary Board of the Bangko Sentral ng Pilipinas
granted the 6th digital bank license to Maya Bank
You can download the PayMaya app
via Playstore and Appstore.
27
CORPORATE
SOCIAL RESPONSIBILITY
28
Empowering
Communities,
Saving Lives
In 2021, PLDT and Smart strengthened their
commitment to enrich the lives of the Filipino
people by equipping individuals and communities
with equal and quality learning opportunities,
sustainable livelihood programs, resilient disaster
preparedness initiatives, and enabling indigenous
and grassroot communities.
The group also promoted digital empowerment
and advocated safer spaces for the youth by
championing children’s rights and protection
and mental health awareness.
- Manuel V. Pangilinan,
PLDT Chairman and President & CEO
29
HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
To know more about the Corporate Social
Responsibility Programs of the PLDT group,
you may get information in the PLDT 2021
Sustainability Report.
EDUCATION
INFOTEACH OUTREACH PROGRAM
flagship digital literacy training and education program of PLDT’s corporate
social responsibility initiatives providing learning opportunities to high
school students and teachers in the elementary and high school levels in
the nation by upgrading their digital knowledge and cyber technology skills
with basic Information Technology education.
▶ Over 30,000 graduates to date
▶ 150 registrants for Phase 6 Online training
▶ 57,631 live views
▶ 10 Module based curriculum topic
PROMOTING DIGITALIZATION
helps mitigate challenges in communications and online teaching
and learning amid the pandemic by supporting the needs of various
communities including offices of the Department of Education,
Philippine National Police, and the Archdiocese of Cebu.
▶ 31 refurbished PCs donated
▶ 5 printers donated
▶ 328 reams of bond paper donated
▶ 43 packs of pad paper donated
EMPOWERING INDIGENOUS PEOPLES COMMUNITIES
in partnership with Philippine Eagle Foundation (PEF), PLDT
helps bridge the digital divide for women and girls in indigenous
communities through digital knowledge and tools.
▶ 90 women and girls given access to
computers and skills enhancement training
▶ 60 women parents trained on facilitating
home-based modular learning for children
CYBERSMART ONLINE CARAVANS
promoting cybersecurity and online safety among Filipinos.
▶ More than 32,000 teachers, students, parents and
government workers reached
DISASTER RESILIENCE
SCHOOL-IN-A-BAG
making technology, connectivity, and educational content
more accessible to learners in last-mile schools.
▶ Each water-resistant backpack carriers a laptop and
pocket WiFi for teachers, 10 tablets for students preloaded
with interactive, multimedia content and applications
based on the mother tongue developed by Smart and
partners that are available offline
▶ 215 bags donated
▶ 6,092 students reached
▶ 884 teachers reached
CVIF-DYNAMIC LEARNING PROGRAM
promoting #InclusiveEducation via a crisis-resilient
teaching pedagogy.
▶ 15 trainings conducted
▶ 2,842 teachers trained
▶ 1,874 CVIF-DLP Learning Activity Sheets
ploaded on DepEd Commons
▶ 1,090 implementing schools
▶ 11 implementing DepEd Divisions and ALS Divisions
SMART PREPAID INNOVATION GENERATION SEASON 2
empowering the youth to innovate for a better world.
▶ 78 teams and projects
▶ 29 colleges and universities nationwide
▶ 355 student participants
▶ 48 faculty participants
LEARNING SPACES
Turnover of a two-storey, four classroom-building to Pula
Elementary School in Cabanatuan City. The learning facility
is equipped with four comfort rooms, a total of 180 chairs for
the classrooms, as well as teachers’ tables and chairs.
#SafeAndSmart
providing relief in times
of disasters.
▶ 25,512 families benefited
▶ P8,714,338 funds raised
▶ 4,300 BuyLocal
rice packs donated
▶ 4,500 Relief goods distributed
#SafePH ONLINE DISASTER
PREPAREDNESS CARAVAN
building a culture of disaster
resilience among communities.
▶ 15 rollouts
▶ 80 schools engaged
▶ 207 LGUs engaged
▶ 22,087 participants reached
COMMUNICATION AS AID
providing immediate and reliable communications in times of disasters.
▶ Libreng Tawag, Libreng Charging and Libreng WiFi stations
8 – Taal eruption
3 – TS Dante in Romblon
3 – TS Jolina in Marinduque
3 – TS Kiko in Batanes
46 – Typhoon Odette in Visayas and Mindanao
▶ 8 satellite phones deployed
▶ 4 satellite phone SIMs worth P44,000
▶ 3 satellite phone loads worth P39,000
▶ P14,300 regular load to Disaster Risk Reduction agencies
▶ 6,550 free SIMs
▶ 9 generator sets
▶ 6,140 Hygiene kits distributed from SOW pouch and facemask
▶ 7,320 Hygiene kits distributed in partnership with Phil Red Cross
Negros Occidental - Bacolod Chapter- for typhoon Odette victims
▶ 3,713 Hot meals served thru Phil Red Cross Negros Occ - Bacolod Chapter- for typhoon Odette victims
▶ 100 mingo meals served (for kids) from The Hunger Project of PBSP and Negros Occidental Nutrition
Alliance (NONA). Through the Negrense Volunteers for Change Foundation, Inc. (NVC)
▶ 500 beneficiaries of 10kg Rice in support to PBSP’s RiceAid program
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PLDT 2021 ANNUAL REPORT
LIVELIHOOD
BEADWORK FOR CONSERVATION
in partnership with Philippine Eagle
Foundation (PEF).
▶ Livelihood project undertaken by the
Manobo Tigwahanon women to become
economically resilient through the
revitalization while revitalizing their culture
Bead-making workshop for the Manobo,
Higaonon, and Maranao tribes
SOLIDARITY OF ORPHANS
AND WIDOWS (SOW)
in partnership with the PBSP-Motolite Balik
Baterya Program to enhance sewing skills
and increase daily income of SOW sewers in
Payatas, Quezon City.
▶ 12 sewer beneficiaries
▶ P600 daily income (increased from P200)
▶ 14,280 face masks produced
▶ 7,140 hygiene kits distributed
DIGITAL TOURISM AND DIGITAL CATECHISM
promotes local tourism and culture by reinventing
travel for the better normal using ICT.
▶ #TravelSmart showcased by the Tourism Promotions Board on its forum
Tapped by the National Historical Commission of the Philippines and the
National Quincentennial Committee to help implement and promote virtual
activities for the 2021 Quincentennial Commemorations
▶ Panaw sa Pagtuo: The Journey of Faith at 500 Years of Christianity Travelling
Exhibit – launched in partnership with the Archdiocese of Cebu through its
Commission for the Cultural Heritage of the Church, and InnoPub Media
BUY LOCAL, BUY SMART
boosts livelihood of small-scale Filipino
farmers by connecting farmers to consumers
and providing access to low-cost capital for
planting requirements.
▶ 4,260 farmers supported
▶ P332,340 sustainability fund raised
▶ 118,844 kg rice sold
▶ P7,911,857 gross sales generated
▶ 55,592 kg rice donations raised
DIGITAL FARMERS PROGRAM
empowers farmers amid the pandemic
through technology and innovations.
▶ 1,758 farmers trained
▶ 648 youth trained
▶ 98 training sessions conducted
SMART COOPS
enables Filipino coops through technology.
▶ 2,100 coop members trained on
digital literacy
▶ 76 coops engaged
▶ 36 provinces reached
HEALTH & NUTRITION
ART WORKSHOP AND MURAL PAINTING
in support of the Alternative Learning
System Arts Workshop of the Sandiwaan
Center for Learning in Tondo, Manila.
BREATH OF LIFE
in partnership with Museo Iloilo, enabled
local artists to pursue creative talents amid
the pandemic.
▶ 30 out-of-school-youth participants
▶ 70 local artists supported
RICE TOGETHER FEEDING PROGRAM
partnership with Coca-Cola Foundation
Philippines and the Philippine Business for
Social Progress to provide safe and nutritious
food to communities and fight malnutrition
▶ 100 children supported
SUPPORT TO PBSP, NEGRENSE VOLUNTEERS FOR CHANGE (NVC) FOUNDATION, INC:
THE HUNGER PROJECT(THP) AND NEGROS OCCIDENTAL NUTRITION ALLIANCE (NONA)
#PlantSmart: HELPING BUILD FOOD-
SECURE COMMUNITIES
▶ 100 Kids in Barangay 19, Bacolod City benefited from the support to
Give2Asia’s Mingo meals Feeding Program
▶ 3,160 planting kits distributed
▶ 114 communities supported
PROTECTING THE ENVIRONMENT
▶ 2,992 native & fruit bearing seedlings planted in total:
Busol Watershed, Baguio City – 500
Buhisan Watershed Forest Reserve, Cebu City – 1667
Marikina Watershed – 750
Arakan, North Cotabato – 75
FOOD ALWAYS IN THE HOME (FAITH)
provides continuous source of healthy
for the community, ensures food security
before, during, after an emergency.
▶ 15 kilos of produce harvested
▶ 10 families benefitted
STAKEHOLDER TRANSFORMATION: Better Today
Children’s Rights and Mental Health Awareness
▶ Enhanced groupwide initiatives and technology solutions for
▶ Improved community capacity for OSAEC prevention,
children’s rights through strategic alliances with UNICEF, Internet
Watch Foundation, Canadian Centre for Child Protection, and
International Justice Mission
▶ Equipped 4,698 employees with knowledge and understanding
of children’s rights in business, Internet safety, and responsible
digital parenting
▶ Intensified external stakeholder influence with a child protection
policy integrated into brand marketing and community events
sponsorship contracts and into Environment, Health and Safety
Supplier Contractor Evaluation requirements
▶ Kept customers and children safer online with over 154,000
blocked websites linked to online sexual abuse and exploitation
of children (OSAEC)
▶ Strengthened child protection systems in grassroots
communities most affected by OSAEC through partnerships with
Kids for Kids PH and the SaferKidsPH consortium
telemedicine, and relevant counseling through the rollout of
digital equipment, trainings, and mobilization efforts for over 34
Barangay Council for the Protection of Children members, 120
parents and youth representatives in Cagayan de Oro and Iligan
City
▶ Enhanced public and community awareness on mental health
and wellness with over 20 million reach for the #UsapTayo
collaboration with Mental Health PH, over 15 million views for the
Better Today Affirmations Challenge, in partnership with TikTok,
and over 1.4 million reach for The Time Capsule Project and Power
Move Project social campaigns
▶ Enabled six (6) local government units and the youth sector to
set up their localized mental health programs through the joint
conduct of community awareness sessions
▶ Boosted capacity of the youth sector to participate in
championing mental health care through the rollout of the
Better Today Psychological First Aid Program with over 60 youth
graduates in General Santos City
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HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
PEOPLE & CULTURE
Creating Meaningful Experiences During Trying Times
As the COVID-19 pandemic surged in 2021, the PLDT and Smart
organization continued to pivot and rise above the challenges.
The call for a healthier lifestyle was essential as the company
capped off its COVID-19 We Got Your Vac Program with 99.9 %
of its employees vaccinated.
During the fourth quarter, its workforce shifted to a hybrid work
arrangement enabling employees to have a more flexible
arrangement, combining offsite and onsite work.
99.9% of the workforce was fully vaccinated with 51%
coming from the PLDT and Smart vaccination program.
Following the government’s guidelines, COVID-19 booster
activities were also implemented for employees and their
family members with 62.1% of its workforce receiving the
booster inoculation.
Digital Learning
Apart from boosting the employees’ health quotient, the
Company focused on accelerating their digital capabilities.
Under “PLDT & Smart University”, continuous professional
learning and development was offered to its workforce
through a roster of e-learning courses and webinars.
In 2021, there was an all-time high training reach of 88,991
webinars with 194,597 e-learning graduates across all
courses for PLDT and Smart.
The training team supported the four corporate fulcrums
with various key programs. Under Business and Customer
Experience, #AllTogetherNow workshops were rolled
Health & Wellbeing
During this challenging year, the Company’s crisis
management taskforce made persistent efforts to
prioritize its employees’ health and wellbeing.
To alleviate the anxieties of its community, a COVID-19
assistance program was launched to drive awareness on
health-related information and safety protocols, address
immediate concerns, and track the health status of its
people.
Dedicated communication channels were established
such as the COVID Employee Helpline, PLDT Clinic hotline,
COVID Online Helpdesk via Workplace by Facebook,
COVID Vaccination emails, 24/7 InfoMed hotline and
COVID weekend consultations with doctors. Under the
“Mind Your Health” program which focuses on the mental
wellbeing of employees, the PLDT Medical Services Center
also partnered with professional counselors with the
aim of helping the workforce maintain its mental health
equilibrium.
To regularly track and monitor the health of its workforce,
a COVID Self-Check Chatbot was made available via the
ONE Hub Employee portal. Being easily accessible to its
employees regardless of their work arrangement, the
average number of monthly users was at 94%. On top of
this, PLDT’s 23 nationwide clinics were fully operational,
providing consultations, medicines and vitamins, and
a comprehensive medical coverage with its partner
hospitals.
To further support all of PLDT and Smart’s health-related
efforts, a COVID Warrior intranet portal was set up as a
one-stop information platform for employee needs which
housed FAQs and regular updates on protocols, self-care,
vaccination and return to office.
One of this year’s biggest milestones included the
company’s COVID-19 vaccination initiative for employees,
dependents and household members in partnership with
the MVP Group’s “We Got Your Vac” program. A series
of inoculation activities were rolled out nationwide in
collaboration with Metro Pacific Hospital Holdings, Inc.
and third party medical provider ActiveOne. As a result,
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PLDT 2021 ANNUAL REPORT
out for 34,000 graduates generating new revenues of
Php39.2M and a Product Knowledge course to keep the
2,300 graduates abreast of the company’s services. For
the Digital Transformation arm, over 18,000 employees
went through technical and business systems trainings.
Likewise, various Sustainability learning initiatives
were launched to support environmental, social and
governance opportunities.
To support the organization’s Leadership DNA and Critical
Talent programs, 6,260 employees were trained in the
areas of leadership, critical thinking, talent development
and communicating change.
The launch of the company-wide Online Digital Library – a
multi-format learning and content solutions platform with
over 10,000 e-books, online articles and webinars made
accessible anytime and anywhere – came at an opportune
time with workforce’s hybrid set-up.
Also, with the aim of keeping everyone informed of the
health protocols and new normal setting, PLDT and
Smart’s 16,000-strong workforce received online training
support for the vaccination process and return to office
program.
Due to the company’s efforts during the pandemic, the
learning and development team was recognized for its
L&D Program of the Year dubbed “You Can’t Stop the
Learning” in the reputable Philippine Society for Talent
Development (PSTD) Gawad Maestro Awards, along with
“L&D Extraordinaire” awarded to its L&D Head, Alexander
“Deng” Kibanoff.
Talent Management
To ensure that PLDT and Smart enable the best integrated
telco strategy, the organization continues to do succession
management in an active manner. These include working
with the Management Committee on their capability
requirements while continuously refreshing the talent
pipeline by nurturing the ecosystem of both internal and
external pools.
Internal talents undergo robust leadership and skill
development programs such as the Next Leadership
Program which highlights experiential learning, talent
mobility, global education and coaching. External pool,
on one hand, takes a proactive approach in engaging
relevant markets and a compelling onboarding program.
All these efforts are aimed towards making sure we
have the best fit talents in the most critical roles of the
business.
Pusong PLDT & Smart Campaign
The Pusong PLDT & Smart Campaign was launched
to underscore that the vision, mission and core values
(VMV) have always been at the core of the Company’s
business strategy. The VMV is the “heart” of the
organization – which differentiates PLDT and Smart
from the other organizations. It is al so what fuels the
employee community’s passion to fulfill their purpose, and
outperform their competitors.
Fun and engaging activities were celebrated which
included videos, digital activities, a concert night,
employee testimonials and a company anthem. These
were promoted through various channels (Workplace by
Facebook, email, SMS blast and MS Teams Communicator)
which garnered a cumulative online engagement score
of 47,494 (combined views, comments, reactions, shares),
indicating favorable reception among employees.
Under the same Pusong PLDT & Smart program,
employees and leaders who lived out the principles of
malasakit (empathy), customer centricity, humility to listen
and learn, taking care of its people, and collaboration
– were commended through various digital activities
including a virtual employee recognition event.
Over the course of the campaign, company frontliners and
volunteers who went the extra mile during the pandemic
were also commended through a series of digital posters
all-year round.
33
HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
Diversity & Inclusion
Recognizing the community’s individuality and
uniqueness were widely celebrated in 2021.
PLDT and Smart launched its first big campaign during
Women’s Month called “Yes, She Can!”, which put a
spotlight on the women of the Company. This month-
long initiative introduced weekly webisodes that were
complemented with inspiring messages from female
members of the Management Committee, a showcase
of interesting female statistics, a webinar on workplace
gender equality, and a digital activity where employees
posted words of appreciation for their “superwoman
at work”. Stories featuring women who contributed to
selfless service for the benefit of others, showed dedicated
service to the Company, succeeded in male-dominated
roles, and displayed strong female leadership were also
highlighted.
Along with this, PLDT and Smart kicked off its
first campaign during June Pride Month called
“#EveryoneIsIncluded” which aimed to celebrate the
uniqueness of the LGBTQIA+ community. The month-
long celebration included messages from top leaders
promoting “allyship”, proud messages from community
members, a bingo night, a Sexual Orientation and Gender
Identity Expression (SOGIE) webinar, a digital activity
that allowed employees to share their thoughts about
inclusivity, and a short video clip featuring allies and
community members.
To celebrate the International Day of Persons with
Disabilities, PLDT and Smart partnered with Leonard
Cheshire Disability Philippines Foundation, Inc. in
conducting a Disability Awareness and Sensitivity webinar
under the campaign handle, “#IAmAble”. The webinar
aimed to promote an understanding of disability issues
and increase employees’ awareness of the impact of
integrating persons with disabilities in every aspect of
political, social, economic, and cultural life.
These initiatives helped bring to life the company’s
diversity and inclusion ambition “to create an inclusive
work environment where uniqueness is celebrated,
diversity is recognized, and equal opportunities are
shared.” And that “by enabling everyone to thrive and
reach their full potential, we inspire our community at
large to create a better world.”
Engaging the Community
On top of the various recognition activities, 96 virtual
events were launched in 2021 with a cumulative
participant count of 42,426 employees and an employee
satisfaction score of 4.7 (94%).
These initiatives were anchored on various engagement
pillars – (1) the Families and Communities program which
included themed celebrations (i.e. Father’s Day, Mother’s
Day, Halloween, Christmas), entertainment programs
(i.e. quiz nights, online concerts) as well as community
building efforts (i.e. plant projects and cooking activities),
and the (2) Wellness Revolution holistic program
which empowered employees to take charge of their
overall physical, mental, spiritual and financial wellness.
Multiple virtual events were rolled out such as monthly
virtual fitness classes, nutrition talks, Esports leagues
and learning webinars featuring reputable speakers on
cryptocurrency, stock market investment, budgeting and
getting rid of debt.
New engagement programs were launched in 2021
such as:
• PLDT & Smart Perks – tthe first ever employee discount
program that aimed to get the best deals and promos
for employees from food establishments to lifestyle
products
• Food for the Soul – a spiritual wellness program that
included masses, recollections and religious activities
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PLDT 2021 ANNUAL REPORT
• Bingo Night – a fun, popular and classic online game for
employees of all generations
• Comedy Night Live – stand-up shows from renowned
local comedians aimed to give employees a much
needed break to laugh and enjoy
• Kapitbahays – an employee community initiative where
creativity is channeled towards home design, house
hacks and the like
As mental wellness remained a priority, a series of tips and
webinars like Preparing Oneself for the New Normal at
Work, Managing Changes and Anxiety, and Dealing with
Vaccine Hesitancy and Preparing Oneself were attended
by employees.
The senior leadership team also played a crucial role in
providing mentoring support and guidance through a
line-up of small, intimate sessions with employees from
various groups. “Mornings with Al” allowed the workforce
to have conversations with the President and CEO, Al
Panlilio while “Leaders on the Go” enabled employees to
learn valuable insights and values from the Management
Committee leaders.
New Organization and Workplace Model
organizations became fully embedded into the relevant
verticals to tie their activities closely to the business. The
Digital Office was established to define the enterprise
architecture that enables agility and manage the portfolio
of digital solutions that will improve both internal ways
of working and customer facing channels. The Customer
Experience Group was brought closer to the CEO as a
center of excellence to ensure a strong CX orientation
is overlaid across all core and support functions of
the business. Finally, Corporate Sustainability was
likewise made to report to the CEO to ensure long-term
sustainable practices become a way of life. Along with
these changes, an integrated cost optimization approach
is interlaid with strategic people and culture strategies
to sustain the competitiveness of our talents and our
organization for the long term.
In terms of workplace model, PLDT and Smart initiated its
“Return to Office” Program in November and established
clear protocols for COVID-19 testing, workplace guidelines
and daily health assessment. A split team set-up per
group was established to prevent health risks and utilize
the work space with standard distance protocols. With
the aim of welcoming the “New Normal” environment,
bimonthly hybrid work arrangements were organized
to allow employees to experience the flexibility to work
remotely, along with the benefits of collaborating as a
team onsite.
Following the appointment of the new President and CEO,
the Company reorganized its structure and anchored the
changes on four priorities -– business, digital innovation,
customer experience and corporate sustainability. The
commercial business units were flattened and edge
Despite another unprecedented year, the PLDT and Smart
workforce persevered in working hard, keeping up with
the times, and cultivating a spirit of resiliency – enabling
them to go above and beyond for their customers,
colleagues, and loved ones.
35
CORPORATE
GOVERNANCE REPORT
36
Resolute.
“We confidently face the future – resolute to do
our duty well, resolute to uphold our values by
deed and by word, resolute to attain our highest
goals, in keeping families connected,
entertained, and educated; enabling businesses
to operate at home or in the office – and simply
being a source of strength amidst extraordinary
adversity and affliction, and above all, resolute
in preserving the ground we have retaken;
never again shall we yield.”
Manuel V. Pangilinan
Chairman of the Board
37
38
Review and approval of the PLDT Group Top Risks
as identified by the Top Management Team
The PLDT Board reviewed and approved the PLDT Group Top Risks
as identified by the Top Management Team. The Board, through its Risk
Committee, also discussed with the Group Heads and relevant Risk Officers the
risk profile of business and support groups. To ensure that the risk management
practice within the Group is improving, the Committee monitored progress on
the rollout of the Enterprise Risk Management (“ERM”) Framework.
Annual Corporate Governance Enhancement Session (“ACGES”) Training on
Customer Centricity and Agile Leadership (September 17 and November 12)
The SEC accredited governance training which took place on September 17
(“ACGES 1”) and November 12, 2021 (“ACGES 2”) were attended virtually by Board
and Advisory Board/Committee Members, Advisors and Officers of PLDT and the
PLDT Group, together with the Board Members and Officers of other Philippine-
based affiliate companies of First Pacific Company Ltd. ACGES 1 focused on
“Becoming Obsessed with the Customer” by Mr. John Rossman, former Amazon
Executive, Digital Disruption, Innovation & IoT Expert, and Author of “The Amazon
Way” book series; and ACGES 2 focused on “Agile Leadership: A Conversation with
Ms. Anna Wintour”, with Vogue’s Global Editorial Director and Chief Content
Officer of Condé Nast.
Review of the Gifts Policy, Policy on Gift-Giving Activities,
Expanded Whistleblowing Policy and Supplier/Contractor Relations Policy
The PLDT Board, acting through its Governance, Nomination and
Sustainability Committee, reviewed the Company’s Policy on Gifts, Entertainment and
Sponsored Travel, Policy on Gift-Giving Activities, Expanded Whistleblowing Policy and
Supplier/Contractor Relations Policy and determined that these remain compliant with
applicable law, regulations and best practices and are appropriate for the Company.
Campaign against Online Sexual Abuse and Exploitation of Children (“OSAEC”)
In line with the PLDT Group’s commitment to curtail OSAEC and to further its
compliance with Republic Act No. 9775, the Anti-Child Pornography Law, PLDT and
Smart formalized their membership in the UK-based Internet Watch Foundation
in 2021, the first in the Philippines to join the global coalition of more than 150
organizations in the global fight against OSAEC.
PLDT Group’s Compliance with Section 404
of the Sarbanes-Oxley Act (“SOX 404”)
Amid the challenges of the prolonged pandemic, Finance,
Internal Audit and the external auditor have found that the
Company’s internal control environment and compliance
structure continue to be fundamentally strong. Improvements
in the PLDT Group’s SOX 404 compliance activities also
continue to be implemented towards a sustainable and
value-adding compliance program.
39
40
BOARD OF DIRECTORS
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HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
ANNUAL BOARD ASSESSMENT
The Board conducts an annual self-assessment to
evaluate the performance of the Board as a whole,
the Board Committees and the individual directors.
Each Board Committee also conducts an annual self-
assessment of its performance.
COMPOSITION
Our Board is composed of 13 members, with three
independent directors, nine other non-executive directors
and one executive director. Three directors are female
and two are Japanese citizens. All the members of our
Board are qualified and competent directors with diverse
and complementing skills, expertise, experience and
knowledge which enrich the collective processes and
practices of our Board. Our directors have extensive
experience in their respective fields or industries, such as
telecommunications, Information and Communication
Technology (“ICT”), business processing, infrastructure,
power, insurance, real property development, retail and
agriculture businesses, law and public administration.
At least three of our non-executive directors have
extensive experience in the telecommunications industry.
Chairman. Our Chairman
provides leadership for the
Board and ensures that the
Board works effectively and
performs its duties responsibly.
He presides and facilitates
discussions in Board meetings
focusing on strategic matters,
risk management, key issues
and governance concerns that will affect the business
operations. The Chairman ensures that the lines of
communication and the flow of information between
Management and the Board are maintained and ensures
that the Board receives accurate, timely, relevant,
insightful, concise, and clear information to enable it
to make sound decisions. On June 8, 2021, the Board
appointed Mr. Manuel V. Pangilinan as its Chairman at the
Organizational Board meeting held virtually immediately
following the Company’s Annual Stockholders’ Meeting.
Independent Directors. The Board, having three
independent directors out of 13 directors, meets the
requirement under Section 38 of the Philippine Securities
Regulation Code that at least two (2) or twenty percent
(20%) of the total members of the Board, whichever is
less, must be independent; and Section 22 of the Revised
Corporation Code that corporations vested with public
interest shall have independent directors constituting
at least 20% of such Board. Our independent directors,
namely, Retired Supreme Court Chief Justice Artemio V.
Panganiban, Ms. Bernadine T. Siy and Mr. Bernido H. Liu,
were selected pursuant to the specific independence
criteria set out under applicable laws and rules, our By-
Laws and Manual on Corporate Governance (“CG Manual”).
Under our CG Manual, an independent director is, broadly,
a person who is independent of Management and who,
apart from his or her fees and shareholdings, is free from
any business or other relationship with the Company
which could, or could reasonably be perceived to
materially interfere with his or her exercise of independent
judgment in carrying-out his or her responsibilities as a
director of the Company. More specific independence
standard criteria are enumerated in our By-Laws and CG
Manual. On June 8, 2021, the Board reappointed Hon.
Panganiban as Lead Independent Director pursuant
to the Recommendation of the Code of Corporate
Governance for Publicly-Listed Companies (“CG Code for
PLCs”).
DIVERSITY
PLDT considers having an optimally performing diverse
Board as an essential element for the attainment of
the Company’s strategic objectives and its sustainable
development. PLDT’s Board Diversity Policy articulates
the Company’s recognition of the enhanced quality of
performance and decision-making capability of a Board
that is composed of a mix of directors who are equipped
with knowledge, skills, professional or business experience,
cultural and educational background, ethnicity, gender,
age, length of service, and is a combination of executive,
non-executive and independent directors. The Company’s
Board Diversity Policy provides that without infringing the
cardinal right of the stockholders to nominate and vote for
the election of directors, the Governance, Nomination and
Sustainability Committee and the Board shall consider
the appropriate mix, complementation and interplay of
the various diversity aspects in the selection of qualified
director-nominees, including independent director-
nominees, who will be recommended for election by the
stockholders or the Board, as the case may be, for the
Company to achieve the benefits of Board diversity as well
as to fairly and effectively promote the interest of all the
stakeholders, particularly the long-term interest of the
stockholders of the Company.
For the purpose of selecting the members of our
Board, the Governance, Nomination and Sustainability
Committee follows the Company’s Guidelines on
the Search, Screening and Selection of Directors and
Screening Checklist which contain, among others, the
criteria and qualifications for directorship and a matrix
on the skills, expertise and experience relevant to the
responsibilities of the Board, and considers other relevant
factors, such as conflict of interest and directorships and/
or positions in other corporations. The process ensures
that the selection of directors and independent directors
is aligned with the Board Diversity Policy and the
Company’s Vision, Mission, and strategic objectives.
42
PLDT 2021 ANNUAL REPORT
2021 BOARD DIVERSITY FACTORS
ROLE
GENDER
AGE
ETHNICITY
YEARS IN
TELECOM-ICT
BUSINESS
1
EXECUTIVE
DIRECTOR
3
INDEPENDENT
DIRECTORS
3
FEMALE
>80 (3)
2
JAPANESE
<10
(3)
71-80 (3)
10-20
(3)
9
NON-EXECUTIVE
DIRECTORS
10
MALE
61-70 (3)
11
FILIPINO
>20
(7)
40-60 (4)
YEARS
AS PLDT
DIRECTOR
>30 (1)
10-30 (3)
1-10 (5)
<1 (4)
DIRECTORS’ PROFESSIONAL BACKGROUND
Several of our directors have professional background and business experience in more than one field.
85%
BUSINESS (11)
23%
LEGAL (3)
38%
ENGINEERING-ICT (5)
23%
PUBLIC ADMIN. (3)
43
HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
DIRECTORSHIPS IN OTHER CORPORATIONS
Key agenda items in the 2021 Board meetings:
Our Board adheres to a performance-based standard in
determining whether directorships in other companies
compromise the capacity of a director to serve or perform
his or her duties and responsibilities to the Company
diligently and efficiently. Differences in individual
capabilities and the nature and demands of directorships
in other companies are given due consideration in
determining fitness and capacity to serve in our Board.
MEETINGS
Our Board meets, more or less, on a monthly basis, in
accordance with the schedule of meetings that it sets at
the end of the preceding year. Invariably, some of these
meetings are devoted to the review and/or approval of
the Company’s Vision and Mission, the strategic plans
and budget, business operations updates, network
and technology updates, capital expenditures and
investments, risk management reports and sustainability
programs. Once every quarter, our Board reviews the
quarterly financial reports. The Board holds executive
sessions with independent directors and non-executive
directors, excluding executive directors, at least once a
year and at such other times as the Board may deem
necessary or appropriate. The Board held three executive
sessions in 2021.
There were 12 Board meetings in 2021, eleven of which
were regular Board meetings, and one organizational
Board meeting. In each meeting, a quorum of at least
two-thirds of the Board members, including at least
one independent director, was present. All independent
directors were present in the Annual Stockholders’
Meeting held on June 8, 2021. The respective Chairmen
of the Audit; Governance, Nomination and Sustainability;
Executive Compensation; Risk; Technology Strategy; and
Data Privacy and Information Security Committees were
likewise present in the said meeting.
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Audited financial results for the year ended
December 31, 2020
2021 Annual Budget, business strategies and
initiatives
Financial results for each quarter of 2021
Dividend declarations
Business updates
Update on the impact of, and management response
to, Covid-19
Network projects and capital expenditures
Equity and other securities transactions
Annual Stockholders’ Meeting matters
Appointment of members of the Advisory Board and
Board Committees
Appointment of the President and Chief Executive
Officer; and appointment and promotion of other
officers
Appointment of the Lead Independent Director
Reports of Board Committees
Enterprise Risk Management Report
Sustainability Report
Preliminary Budget 2022
Corporate Social Responsibility Projects
COMPENSATION
All our directors are entitled to a per diem of Php250
thousand for attendance in each Board meeting and
Php125 thousand for attendance in each meeting of the
Board Committees in which some of them are members.
Save for our executive director, our directors do not receive
stock options, performance incentives, bonuses or any
other form of compensation from the Company.
Enterprise Risk
Management
6%
Sustainability, Stakeholder
Engagement and CSR
13%
26%
Management
Oversight
Strategic Direction,
Technology & Corporate
Performance
15%
BOARD
ACTIVITIES
20%
Financial Reporting,
Internal Controls & Audit,
and Independent Audit
Corporate
Governance
20%
44
PLDT 2021 ANNUAL REPORT
ATTENDANCE IN 2021 BOARD MEETINGS AND ANNUAL STOCKHOLDERS’ MEETING (“ASM”)
Director
Designation
Board Meetings
ASM
Manuel V. Pangilinan
Non-executive Director
Alfredo S. Panlilio1
Bernido H. Liu
Artemio V. Panganiban
Pedro E. Roxas2
Bernadine T. Siy3
Manuel L. Argel, Jr.
Helen Y. Dee
Albert F. del Rosario
Ray C. Espinosa
James L. Go
Shigeki Hayashi4
Junichi Igarashi5
Kazuyuki Kozu6
Executive Director
Independent Director
Independent Director
Independent Director
Independent Director
Non-executive Director
Non-executive Director
Non-executive Director
Non-executive Director
Non-executive Director
Non-executive Director
Non-executive Director
Non-executive Director
Ma. Lourdes C. Rausa- Chan7
Non-executive Director
12/12
7/7
12/12
12/12
5/5
7/7
12/12
12/12
12/12
12/12
12/12
6/8
6/6
6/6
5/5
4/4
-
-
Naoki Wakai8
Marife B. Zamora
Non-executive Director
Non-executive Director
12/12
ATTENDANCE IN 2021 BOARD MEETINGS AND ANNUAL STOCKHOLDERS’ MEETING (“ASM”)
Name
Designation
Board Meetings
ASM
Oscar S. Reyes
Roberto R. Romulo9
Benny S. Santoso
Orlando B. Vea
Christopher H. Young
Advisor
Advisor
Advisor
Advisor
Advisor
12/12
12/12
12/12
12/12
12/12
1 Elected in the Annual Stockholders Meeting on June 8, 2021
2 Until the Annual Stockholders’ Meeting on June 8, 2021
3 Elected in the Annual Stockholders Meeting on June 8, 2021
4 Until his resignation on August 25, 2021
5 Until his resignation on July 5, 2021
6 Elected on July 6, 2021 vice Mr. Junichi Igarashi
7 Until the Annual Stockholders’ Meeting on June 8, 2021
8 Elected on August 26, 2021 vice Mr. Shigeki Hayashi
9 Until January 22, 2022; Mr. Roberto R. Romulo passed away on January 23, 2022
45
HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
ATTENDANCE IN 2021 BOARD COMMITTEE MEETINGS
Audit
(AC)
Governance, Nomination
and Sustainability
(GNSC)1
Executive
Compensation
(ECC)2
Risk
(RC)
Technology
Strategy
(TSC)
Data Privacy
and Information
Security (DPISC)
Board Committee Members
Manuel V. Pangilinan
Alfredo S. Panlilio3,11
Ma. Lourdes C. Rausa- Chan4
Bernido H. Liu5
Artemio V. Panganiban5
Pedro E. Roxas5,6
Bernadine T. Siy5,7
Albert F. del Rosario
Ray C. Espinosa
James L. Go12
Junichi Igarashi8,12
Kazuyuki Kozu9,12
Roberto R. Romulo10,12
Oscar S. Reyes4
Orlando B. Vea4
-
-
-
8/8
8/8
4/4
4/4
-
-
8/8
4/4
4/4
8/8
-
-
3/4
-
3/4
4/4
4/4
1/1
3/3
-
-
-
1/1
3/3
-
-
-
-
3/3
-
-
3/3
3/3
1/1
2/2
-
-
-
1/1
2/2
-
-
-
-
3/3
-
-
-
6/6
6/6
2/2
4/4
-
-
6/6
3/3
3/3
-
-
-
-
-
7/8
4/4
-
-
-
-
-
8/8
8/8
8/8
4/4
4/4
-
8/8
8/8
-
-
4/4
4/4
-
4/4
-
-
-
-
4/4
-
2/2
2/2
-
-
-
-
-
Corazon S. de la Paz Bernardo12
8/8
Gina Marina P. Ordonez4
-
4/4
1 In lieu of meetings in March, June and December,
the GNSC unanimously adopted written resolutions
pursuant to Sections 4.1 (h) (iii) of its Charter.
2 In lieu of meetings in March and December, the
ECC unanimously adopted written resolutions
pursuant to Sections 4.1 (h) (iii) of its Charter.
3 Appointed as a member of the Technology
Strategy Committee on July 6, 2021
4 Non-voting member
5 Independent Director
6 Until June 8, 2021
7 Appointed as Chairman of the Audit Committee
and as a member of the Governance, Nomination
and Sustainability, Executive Compensation, and
Risk Committees on June 8, 2021
8 Until his resignation on July 5, 2021
9 Appointed as a member of Governance,
Nomination and Sustainability, Executive
Compensation, Risk, Technology Strategy, and Data
Privacy and Information Security Committees on July
6, 2021 vice Mr. Junichi Igarashi
10 Until January 22, 2022
11 Data Privacy and Information Security Advisor
12 Audit Committee Advisor
Directors
ASM & Board Meetings1
Board Committee Meetings
Total
2021 BOARD REMUNERATION (PHP)
Executive Directors
Alfredo S. Panlilio2
Ma. Lourdes C. Rausa- Chan3
Independent Directors
Bernido H. Liu
Artemio V. Panganiban
Pedro E. Roxas3
Bernadine T. Siy4
Non-executive Directors
Manuel V. Pangilinan
Manuel L. Argel, Jr.
Helen Y. Dee
Albert F. del Rosario
Ray C. Espinosa
James L. Go
Shigeki Hayashi5
Junichi Igarashi6
Kazuyuki Kozu7
Naoki Wakai8
Marife B. Zamora
Total
1,750,000
1,250,000
2,750,000
2,750,000
1,250,000
1,750,000
2,750,000
2,750,000
2,750,000
2,750,000
2,750,000
2,750,000
1,250,000
1,250,000
1,500,000
1,000,000
2,750,000
1,000,000
375,000
3,125,000
2,625,000
1,000,000
1,625,000
2,125,000
-
-
1,000,000
1,500,000
2,750,000
-
1,875,000
2,250,000
-
-
2,750,000
1,625,000
5,875,000
5,375,000
2,250,000
3,375,000
4,875,000
2,750,000
2,750,000
3,750,000
4,250,000
5,500,000
1,250,000
3,125,000
3,750,000
1,000,000
2,750,000
35,750,000
21,250,000
57,000,000
1 Only one per diem was given to directors for
attendance in the Annual Stockholders’ Meeting,
Regular Meeting and Organizational Meeting on
June 8, 2021.
2 Elected in the Annual Stockholders Meeting on
June 8, 2021
3 Until the Annual Stockholders’ Meeting on June
8, 2021
4 Elected in the Annual Stockholders Meeting on
June 8, 2021
5 Until his resignation on August 25, 2021
6 Until his resignation on July 5, 2021
7 Elected on July 6, 2021 vice Mr. Junichi Igarashi
8 Elected on August 26, 2021 vice Mr. Shigeki Hayashi
46
PLDT 2021 ANNUAL REPORT
TRAINING
PERFORMANCE ASSESSMENT
For the orientation of new directors, the Chairman,
President and CEO, Chief Financial Officer, Corporate
Secretary and Chief Governance Officer give a briefing
on the Company’s structure, business, operating and
financial highlights, responsibilities of the Board and its
Committees and how each operates. The new director is
furnished with copies of all relevant corporate documents,
including the Company’s Articles of Incorporation, By-
Laws, Annual Report, CG Manual, Code of Ethics, and the
Charters of the Board and Board Committees. Updates
on business and governance policies and requirements
principally from the Securities and Exchange Commission
(“SEC”), Philippine Stock Exchange (“PSE”), US SEC,
and New York Stock Exchange (“NYSE”), and new laws
applicable or relevant to the Company and its business,
particularly on financial reporting and disclosures and
corporate governance, are presented in Board meetings
and/or furnished to the directors.
The Board keeps abreast of industry developments,
business trends and legal requirements relevant to the
Company and its operations. Since 2007, the Company
has been conducting Annual In-house Corporate
Governance Enhancement Sessions (“ACGES”) that
provide an opportunity for leadership to engage in
discussion with international and local experts on relevant
topics, including emerging trends and technologies, new
laws, and best business practices. In 2021, the Company
conducted the ACGES for the Board and Management in
collaboration with Philippine-based affiliate companies
of First Pacific Company Ltd. on the topics: “Becoming
Obsessed with the Customer” by Mr. John Rossman on
September 17, 2021 (“ACGES 1”); and “Agile Leadership:
A Conversation with Ms. Anna Wintour” on November
12, 2021 (“ACGES 2”). In PLDT, the ACGES 1 and 2 were
attended by 100% of our Directors of the Board, Advisory
Board/Committee and Board Committee Members and
Advisors, and 75 and 83 of the Company’s Officers in each
of the ACGES sessions, respectively.
Our directors take part in an annual assessment process
which reviews and evaluates the performance of the
whole Board, the Board Committees and the individuals
that comprise these bodies. This process enables the
Board to identify its strengths and areas for improvement
and elicit individual director‘s feedback and views on the
Company’s strategies, performance and future direction.
Each Board Committee also conducts an annual self-
assessment of its performance.
The Board Committees’ self-assessment questionnaires
contain the following criteria based on leading practices
and principles on good governance: for the Board
(i) Structure, Leadership, Roles and Responsibilities,
Internal Control, Code of Conduct and other CG Policies,
Independence, Stewardship, Resources, Internal
Governance, Reporting and Disclosure, and Shareholder
and other Stakeholder Engagement; for the Board
Committees (ii) the respective purposes, functions and
duties of the Committees; and for individual directors (iii)
the specific duties and responsibilities of a director. On
the other hand, the Board Committees’ self-assessment
questionnaires contain the following criteria: performance,
compliance, and committee governance. The report
on the results of the assessment process for the 2020
performance period was submitted to the directors in
2021.
Prospectively, the annual self-assessment shall, as
practicable, be supported by an external facilitator every
three years and allow for a feedback mechanism for
stockholders, to conform with the recommendation in the
CG Code for PLCs.
47
HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
BOARD COMMITTEES
To aid in ensuring compliance with the principles of good corporate governance,
our Board has constituted the following Board Committees: Audit; Governance,
Nomination and Sustainability; Risk; Executive Compensation; Technology
Strategy; and Data Privacy and Information Security.
BOARD OF DIRECTORS
Advisory Committee
Audit
Committee
(AC)
Governance,
Nomination &
Sustainability
Committee
(GNSC)
Executive
Technology
Data Privacy
Compensation
Risk
Strategy
& Information
Committee
Committee
Committee
(ECC)
(RC)
(TSC)
Security
Committee
(DPISC)
ADVISORY BOARD/COMMITTEE
Our Board is supported by an Advisory Board/Committee
that provides guidance and suggestions, as necessary, on
matters deliberated upon during Board meetings. Our
Advisory Committee is composed of Mr. Benny S. Santoso,
Mr. Orlando B. Vea, Mr. Christopher H. Young, Mr. Oscar S.
Reyes, and until January 22, 2022, Mr. Roberto R. Romulo1.
PLDT’s other Board Committees, namely Audit;
Governance, Nomination and Sustainability; Executive
Compensation; Risk; Technology Strategy; and
Data Privacy and Information Security Committees
assist the Board in the performance of its functions
and responsibilities. The respective charters of the
Board Committees provide that each shall have the
necessary resources and authorities to discharge their
responsibilities, including obtaining external legal or
professional advice.
AUDIT COMMITTEE (“AC”)
Composition. Our AC is composed of three members, all
of whom are independent directors, and four advisors.
The AC members are: Retired Supreme Court Chief
Justice Artemio V. Panganiban, Mr. Bernido H. Liu and Ms.
Bernadine T. Siy, who is the Chairman. The AC advisors
include Mr. Kazuyuki Kozu2 and Mr. James L. Go, who
are non-executive directors, Ms. Corazon S. de la Paz-
Bernardo, a former member of our Board, and until
January 22, 2022, Mr. Roberto R. Romulo, a member of
our Advisory Board/Committee. All the members of our
AC are financially literate, and Ms. de la Paz-Bernardo
has expertise in accounting and financial management.
She is a former Chairman and Senior Partner of Joaquin
Cunanan & Company, now Isla Lipana & Co., a member
firm of Pricewaterhouse Coopers (PwC).
Functions. The AC assists the Board in fulfilling its
oversight responsibility for: (i) the integrity of the
Company’s accounting and financial reporting principles
and policies, and system of internal controls, including
the integrity of financial statements (“FS”) and the
independent audit thereof; (ii) the Company’s compliance
with legal and regulatory requirements; (iii) the Company’s
audit process; and (iv) the performance of the Internal
Audit organization and the external auditors (including
the external auditors’ qualifications and independence).
For efficiency, the Board has determined that in lieu
of creating a distinct Related Party Transactions (RPT)
Committee, the AC’s functions shall include the review
of material RPTs and significant unusual transactions,
in accordance with the materiality threshold set in
the Material Related Party Transactions Policy and the
Guidelines on the Proper Handling of RPTs or by the
Board. The purposes, duties and powers of the AC are set
forth in its charter.
The charter of the AC may be viewed
and downloaded from the PLDT website
through the QR code:
Activities. The PLDT AC held a total of eight joint
meetings with the Audit Committees of Smart
Communications, Inc. (“Smart”) and Digital
Telecommunications Philippines, Inc. (“DTPI”). The
joint meetings of the PLDT, Smart, and DTPI Audit
Committees covered a variety of topics including the
approval of the Group-wide Internal Audit (“IA”) Plan
for 2021. The AC likewise discussed, reviewed and
noted the comprehensive reports of the PLDT Group
Internal Audit Head on various topics, including service
order conversion (application to activation), installation
standards compliance, receivables management, IT
1 Mr. Roberto R. Romulo passed away on January 23, 2022.
2 Mr. Kazuyuki Kozu was appointed as Advisor to the Audit Committee on July 6, 2021 vice Mr. Junichi Igarashi.
48
PLDT 2021 ANNUAL REPORT
managed services and privileged access management,
among others. The AC discussed and noted the reports
by IA on its Sarbanes-Oxley Act Section 404 (“SOX 404”)
year-round activities in coordination with Finance and
the Control Owners across the PLDT Group. In line with
initiatives to streamline processes and ensure continuous
improvements, the AC also discussed and noted the
results of: (i) IA’s External Quality Assurance Review, and
(ii) the SOX 404 compliance program (“Project WinSOX”).
As part of IA’s initiatives to strengthen the culture of
ownership and accountability across the PLDT Group, the
AC likewise regularly monitored and received updates on
Project OWN’s key accomplishments such as the timely
remediation of audit issues and the conduct of ownership
culture-building trainings during the year together with
People Group.
The AC reviewed, with the Chief Financial Officer (“CFO”)
and the PLDT Group Controller, the quarterly financial
results, accounting policies, new accounting standards
and their impact to the PLDT Group, and management’s
estimates and judgments. The AC also discussed with
them the Company’s 2020 Annual Reports on Form 17-A
for the Philippine Securities and Exchange Commission,
and on Form 20-F for the U.S. SEC. The AC recommended
to the Board the reappointment of SyCip, Gorres, Velayo &
Co. (“SGV”) as the external auditor for the Company and its
subsidiaries for 2021. It approved SGV’s various audit and
non-audit engagements; and verified that such non-audit
services would not compromise its independence. The AC
discussed with SGV their plan and status reports for the
integrated audit of the FS for 2021 and the effectiveness
of internal controls over financial reporting (“ICFR”). It also
approved SGV’s report on the results of the integrated
audit of the FS and the effectiveness of ICFR for 2020.
In 2021, the AC reviewed and approved all Related Party
Transactions discussed and endorsed by the CFO. The AC
also reviewed the Corporate Governance Office’s status
reports on complaints received pursuant to the Company’s
Expanded Whistleblowing Policy. It also confirmed the
continued validity of the AC Charter and the IA Charter
until its next review in 2022. The AC likewise invited the
Chief Data Privacy Officer, the Chief Information Officer,
the Chief Legal Counsel, the concerned Heads of the
Network Group, the concerned Heads of the Digital Office,
the concerned Heads of Consumer Business Home, and
the concerned Heads of the Finance Group to provide
updates on risk mitigations or remediations for the noted
audit items.
GOVERNANCE, NOMINATION AND SUSTAINABILITY
COMMITTEE (“GNSC”)
Composition. Our GNSC is composed of five voting
members, all of whom are members of our Board
of Directors, and three non-voting members. Three
of the voting members are independent directors,
namely, Retired Supreme Court Chief Justice Artemio V.
Panganiban, Ms. Bernadine T. Siy and Mr. Bernido H. Liu,
and two are non-executive directors, namely, Mr. Kazuyuki
Kozu and Mr. Manuel V. Pangilinan, who is the Chairman.
The non-voting members are the Chief Governance Officer,
the Chief People Officer and the Chief Sustainability
Officer.
Functions. The GNSC assists the Board in the performance
of its functions to: (i) establish the Company’s corporate
governance framework, principles and policies and
oversee their implementation and the implementation of
continuing education and communication programs on
good governance; (ii) develop and implement the Board’s
performance evaluation process, as well as the evaluation
process for the annual review of Board Committees and
individual directors’ performance; (iii) review and evaluate
the qualifications of the persons nominated to the Board
and to other positions requiring appointment by the
Board; (iv) identify persons qualified to become members
of the Board and/or the Board Committees; (v) make
an assessment of the effectiveness of the Company’s
nomination and selection process for the Board and Board
Committees; (vi) establish the Company’s sustainability
strategy, framework, program, policies and oversee their
implementation; and (vii) oversee the Company’s social
investments and commitments to making meaningful
impact to communities. The purposes, duties and powers
of the GNSC are set forth in its charter.
The charter of the GNSC may be viewed and
downloaded from the PLDT website through
the QR code:
Activities. The GNSC held four meetings in 2021. In lieu
of meetings in March, June and December, the GNSC
unanimously adopted written resolutions pursuant to
Sections 4.1 (h) (iii) of its Charter. The GNSC’s activities
pursuant to its oversight function on governance-related
matters included the following:
•
•
•
On policy review and development, in line with
the periodic review of Company policies, the GNSC
reviewed the (i) Policy on Gifts, Entertainment and
Sponsored Travel, (ii) Policy on Gift-Giving Activities,
(iii) Expanded Whistleblowing Policy (“EWB”), and
(iv) Supplier/Contractor Relations Policy. The GNSC
determined that the said policies remain to be
compliant with applicable law, regulations and best
practices and are appropriate for the Company
and approved the recommendation to continue to
strengthen the implementation of the said policies.
The GNSC likewise discussed PLDT’s Integrated
Annual Corporate Governance Report that was
submitted to the SEC and PSE in compliance with
the CG Code for PLCs and related SEC and PSE
memorandum circulars.
On education and communication, the GNSC provided
guidance on and approved the topics, speakers and
the content of PLDT’s Annual Corporate Governance
Enhancement Session for Directors and Officers.
The topics in 2021 were Becoming Obsessed with
the Customer by Mr. John Rossman, former Amazon
executive, expert on digital disruption, Innovation
& IoT, and author of the book series “The Amazon
Way”; and Agile Leadership: A Conversation with Ms.
Anna Wintour. Ms. Wintour is Vogue’s Global Editorial
Director and is Chief Content Officer of Condé Nast.
The GNSC likewise reviewed and approved PLDT’s
Corporate Governance Report for 2020.
On compliance and enforcement, the GNSC noted
the implementation of PLDT’s EWB Policy and the
monitoring of cases or reports, including those
endorsed to line management for handling. The GNSC
also noted the EWB reports of PLDT subsidiaries,
Smart Communications, Inc. (“SMART”), PLDT Global
1 Mr. Kazuyuki Kozu was appointed as a member of the Governance, Nomination and Sustainability Committee on July 6, 2021 vice Mr. Junichi Igarashi.
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HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
•
•
Corporation (“PGC”), ePLDT, Inc. (“ePLDT”), Digital
Telecommunications Philippines, Inc. (“DTPI”) and
Digitel Mobile Philippines, Inc. (“DMPI”). It likewise
reviewed and noted or approved, as applicable,
the Conflict of Interest (“COI”) disclosures and
the appropriate risk mitigation plans of PLDT key
employees. PLDT and SMART have recorded a
100% COI compliance rate for the covered year
and will make available to the employees a new
COI disclosure facility in 2022. The GNSC also
assisted in implementing the Board Performance
Assessment for 2020 performance, which included
the performance evaluation of the Board Committees
and individual directors.
The GNSC’s activities pursuant to its oversight
function on nomination-related matters included
the following: (i) pre-screened candidates nominated
to become Directors and the qualifications of
candidates for Independent Directors and submitted
to the Board the final list of qualified Director and
Independent Director nominees for election at the
2021 Annual Stockholders’ Meeting; (ii) screened
and recommended to the Board the appointment
of a Lead Independent Director; and reviewed
and confirmed People Group’s evaluation of the
qualifications of officers, including the new PLDT
President and CEO, and recommended their
appointment or re-appointment as such at the 2021
Organizational Meeting of the Board of Directors; (iii)
reviewed and confirmed People Group’s evaluation
of proposed appointments of new officers and
promotions to officer rank for approval by the Board;
(iv) pre-screened director candidates nominated to fill
subsequent vacancies in the Board; and (v) noted the
People Group’s proposed reorganization anchored on
the Company’s future mode of operation.
The GNSC’s activities pursuant to its oversight
function on sustainability-related matters included
the following: discussed and noted reports on: PLDT
Group’s Sustainability framework, guiding principles
and pillars; the results of the World Benchmarking
Alliance assessment, with PLDT ranking fourth in
the 2020 digital inclusion benchmark, results of
S&P Global Ratings, and PLDT’s participation in
various discussions, including the 2020 Sustainability
Accounting Standards Board Corporate-Investor
Dialogue; preparation of PLDT’s Sustainability
Report for 2021; and plans to establish carbon
emissions target reduction for the PLDT Group
under the science-based targets initiative. The
GNSC likewise discussed and noted the report on
Sustainability at PLDT: Corporate Sustainability
Office, environmental, social and governance (“ESG”)
Goals, and Sustainability Roadmap; the Company’s
Sustainability Progress Report, including initiatives
on the use of new technologies such as carbon fiber
(towers) and fuel cell technology (gensets), inclusion
of renewables in the energy mix of e-PLDT for the
data centers, use of solar panels in various PLDT
and e-PLDT facilities, construction of catchment
structures to collect rainwater, protection of children
from online abuse, and other programs in the areas
of e-waste, education, peatland conservation, digital
inclusion of farmers and students in remote areas,
sustainability reporting for the year 2021 and crafting
the decarbonization roadmaps for the MVP group of
companies, aligned with greenhouse gas emissions
reduction targets and commitments. The GNSC
likewise reviewed and approved PLDT’s Sustainability
Report for 2020.
EXECUTIVE COMPENSATION COMMITTEE (“ECC”)
Composition. Our ECC is composed of five voting
members, all of whom are members of our Board of
Directors, and one non-voting member. Three of the
voting members are independent directors, namely,
Retired Supreme Court Chief Justice Artemio V.
Panganiban, Ms. Bernadine T. Siy and Mr. Bernido H. Liu,
and two are non-executive directors, namely, Mr. Kazuyuki
Kozu4 and Mr. Manuel V. Pangilinan, who is the Chairman.
The non-voting member is the Chief People Officer.
Functions. The ECC assists the Board in the performance
of its functions to: (i) oversee the development of a
compensation philosophy or policy consistent with
the strategy, culture and control environment of PLDT;
(ii) oversee the development and administration of
PLDT’s executive compensation programs, including
long term incentive plans and equity-based plans for
officers and executives; (iii) oversee the development
and administration of the Company’s performance
management framework to monitor and assess the
performance of Management; (iv) review the succession
plan for officers, including the CEO; and (v) oversee
the development and implementation of professional
development programs for officers. The purposes, duties
and powers of the ECC are set forth in its charter.
The charter of the ECC may be viewed and
downloaded from the PLDT website through
the QR code:
Activities. The ECC held three meetings in 2021. In
lieu of meetings in March and December, the GNSC
unanimously adopted written resolutions pursuant to
Sections 4.1 (h) (iii) of its Charter. Its activities for the year
included the review and/or approval of the following:
(i) updates on the Company’s Talent Strategy and the
different programs and initiatives on talent acquisition
and development, including critical talent acquisition
in line with the Company’s transformation initiatives; (ii)
Management’s proposed differentiated rewards strategy
anchored on talent segmentation and tailor-fitted rewards
for different talent categories; (iii) impact of the pandemic
on flexible work arrangements; (iv) Management’s
proposed job levelling system; (v) Management’s proposed
pay scale aligned to the Company’s Rewards Program; (vi)
Management’s proposal on the Company’s Short-Term
Incentive Plan (“STIP”), Transformation Incentive Plan
(“TIP”) and a new Long Term Incentive Plan (“LTIP”).
RISK COMMITTEE (“RC”)
Composition. Our RC is composed of five voting
members, all of whom are members of our Board of
Directors. Three of the voting members are independent
directors, namely, Ms. Bernadine T. Siy, Mr. Bernido H.
Liu and Retired Supreme Court Chief Justice Artemio V.
Panganiban, who is the Chairman. Two voting members
are non-executive directors, namely, Mr. Kazuyuki Kozu5
and Mr. James L. Go.
4 Mr. Kazoyuki Kozu was appointed as a member of the Executive Compensation Committee on July 6, 2021 vice Mr. Junichi Igarashi.
5 Mr. Kazoyuki Kozu was appointed as a member of the Risk Committee on July 6, 2021 vice Mr. Junichi Igarashi.
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PLDT 2021 ANNUAL REPORT
initiatives and plans, including, among others, the
transport fiber optic cable program; and (iv) projects in
support of business operations including, among others,
the consolidated device buying plan.
DATA PRIVACY AND INFORMATION SECURITY
COMMITTEE (“DPISC”)
Composition. Our DPISC is composed of four voting
members and an advisor. The four voting members are
non-executive directors Mr. Manuel V. Pangilinan, who is
the Chairman; Atty. Ray C. Espinosa; Mr. Kazuyuki Kozu8;
and independent director, Mr. Bernido H. Liu. Its advisor is
Mr. Alfredo S. Panlilio
Functions. The DPISC assists the Board in the
performance of its functions to (i) promote and foster
a culture of data privacy and information security
governance; (ii) review and approve the Company’s
strategic plans on data privacy and information security;
(iii) ensure accountability for compliance with regulatory
standards and best practices on data privacy and
information security; and (iv) oversee Management’s
adoption and implementation of a system for identifying,
assessing, monitoring and managing enterprise-wide
data privacy and information security risks, including its
framework, structure, policies, standards, and processes.
The purposes, duties and powers of the DPISC are set
forth in its charter.
A copy of the charter of the DPISC may be
viewed and downloaded from the PLDT
website through the QR code:
Activities. In 2021, the DPISC became fully operational
after having been established in November 2020. The
PLDT DPISC is the first—and, to date, the only—Board
Committee on privacy and information security among
publicly-listed companies in the Philippines. The DPISC
underscores the Company’s recognition of its duty as a
responsible steward of the data of its stakeholders.
The Committee met four times in 2021 and discussed the
emerging risks in privacy and information security and the
trends in regulatory approaches and global best practices
in addressing such risks. The Chief Information Security
Officer and Chief Data Privacy Officer also kept the
Committee abreast of key privacy and security breaches
across the globe that had an impact on the Philippines
and the Company. The Committee, on the other hand,
provided strategic guidance to the Chief Information
Security Officer and Chief Data Privacy Officer.
Functions. The RC assists the Board in the performance
of its functions to: (i) oversee Management’s adoption and
implementation of a system for assessing, monitoring and
managing key risk areas; (ii) review Management’s reports
on the Company’s major risk exposures; and (iii) review
Management’s plans and actions to minimize, control or
manage the impact of such risks. The purposes, duties
and powers of the RC are set forth in its charter.
The charter of the RC may be viewed and
downloaded from the PLDT website through
the QR code:
Activities. The RC held six meetings in 2021. Its activities
for the year included the following: (i) review of the PLDT
Group Top Risks as identified by the Management Team;
(ii) review and monitoring of progress on the rollout of the
Enhanced Enterprise Risk Management Framework with
the Head of the PLDT GRMD; (iii) review and endorsement
of the renewal of the Property Insurance Policy and Cyber
Insurance Policy with the Center Head for Insurance, (iv)
revision of the Risk Committee Charter; (v) discussion on
the framework for managing reputational risk; and (vi)
review and discussion with Heads and relevant officers of
the risk profiles of the (a) Regulatory and Strategic Affairs
Unit, (b) Digital Office, (c) People Group, (d) Customer
Experience Group, (e) Revenue Group, (f) Business
Continuity and Resiliency Office, (g) Cyber Security
Operations Group, (h) Privacy Office, (i) Supply Chain
Management and Administration, (j) Corporate Affairs and
Legal Services Group, (k) Network Group, (l) Information
Technology Sector, and (l) Finance.
TECHNOLOGY STRATEGY COMMITTEE (“TSC”)
Composition. Our TSC is composed of six voting members
and two non-voting members. The six voting members
are non-executive directors Mr. Manuel V. Pangilinan, who
is the Chairman, former Ambassador Albert F. del Rosario,
Atty. Ray C. Espinosa, Mr. James L. Go, Mr. Kazuyuki Kozu6,
and Mr. Alfredo S. Panlilio7; and the two non-voting
members are Mr. Oscar S. Reyes and Mr. Orlando B. Vea,
who are members of our Advisory Board/Committee.
Functions. The TSC assists the Board in the performance
of its functions to: (i) review and approve the strategic
vision for the role of technology in PLDT’s overall business
strategy, including the technology strategy and roadmap
of PLDT; (ii) fulfill its oversight responsibilities for PLDT’s
effective execution of its technology-related strategies;
and (iii) ensure the optimized use and contribution of
technology to PLDT’s business and strategic objectives
and growth targets. The purposes, duties and powers of
the TSC are set forth in the TSC Charter.
A copy of the charter of the TSC may be
viewed and downloaded from the PLDT
website through the QR code:
Activities. The TSC held eight meetings in 2021. Its
activities included review and discussion, together with
the Technology Group and Management, and where
appropriate, endorsement to the Board for approval, of
the following: (i) technology budget items; (ii) status of the
network; (iii) technology strategies, programs, projects,
6 Mr. Kazoyuki Kozu was appointed as a member of the Technology Strategy Committee on July 6, 2021 vice Mr. Junichi Igarashi.
7 Mr. Alfredo S. Panlilio was appointed as a member of the Technology Strategy Committee on July 6, 2021.
8 Mr. Kazoyuki Kozu was appointed as a member of the Data Privacy and Information Security Committee on July 6, 2021 vice Mr. Junichi Igarashi.
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HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
MANAGEMENT
Our Board exercises oversight on Management in
accordance with the standards set forth in our CG Manual.
The roles of Management and other offices involved in
ensuring implementation of the corporate governance
policies and requirements are discussed below.
President and CEO. The President and CEO has general
care, management and administration of the business
operations of the Company. He ensures that the business
and affairs of the Company are managed in a sound
and prudent manner and that operational, financial and
internal controls are adequate and effective to ensure
reliability and integrity of financial and operational
information, effectiveness and efficiency of operations,
safeguarding of assets and compliance with laws, rules,
regulations and contracts. He provides leadership for
Management in developing and implementing business
strategies, plans and budgets to the extent approved
by the Board. In order to enable the members of the
Board to properly fulfill their duties and responsibilities,
the CEO provides the Board with a balanced and
understandable account of the Company’s performance,
financial condition, results of operations and prospects
on a regular basis. He directs Management to provide the
Board/directors with adequate and timely information
about the matters to be taken up in their Board
meetings. He likewise ensures that the directors have
independent access to Management. The President and
CEO communicates and implements the Company’s
Vision, Mission, Values and overall strategy and promotes
the appropriate enhancement in the organization or its
stakeholder engagement in relation to the same. The
President and CEO likewise serves as the link between
internal operations and external stakeholders. Headed by
the President and CEO, Management formulates, under
the oversight of the Audit Committee, financial reporting
and internal control systems, rules and procedures. On
June 8, 2021, the Board appointed Mr. Alfredo S. Panlilio
as President & CEO at the Organizational Board meeting
held virtually immediately following the Company’s
Annual Stockholders’ Meeting. Other duties of the
President are set forth in the CG Manual.
Corporate Secretary. The Corporate Secretary assists
the Board in the conduct of its meetings, including
the preparation of the schedule and agenda of Board
meetings, and ensures that all Board procedures, rules
and regulations are observed by the directors, and
Management provides the Board with complete and
accurate information necessary for judicious decision
making. The Corporate Secretary is responsible for
the safekeeping and preservation of the integrity of
the minutes of the meetings of the Board and Board
Committees, as well as other official records of the
Company, and contributes to the flow of information
between the Board and Management, the Board and
its Committees, and the Board and the Company’s
stakeholders, including stockholders.
Internal Audit Organization. Our Internal Audit
organization determines whether the Company’s
structure of risk management, control and governance
processes are adequate and functioning, and provides
reasonable assurance that, among others, significant
financial, management, and operating information are
accurate, reliable and timely and employees’ actions
are in compliance with policies, standards, procedures,
and applicable laws and regulations. It provides a
systematic and disciplined approach to the evaluation
and improvement of the effectiveness of such processes.
Internal audit examinations cover, at the minimum, the
evaluation of the adequacy and effectiveness of controls
covering the Company’s financial reporting, governance,
operations and information systems, including the
reliability and integrity of financial and operational
information, effectiveness and efficiency of operations,
protection of assets, and compliance with laws, rules,
regulations and contracts. The internal audit organization
complies with the International Standards for the
Professional Practice of Internal Auditing.
The Chief Audit Officer/Internal Audit Head oversees
and is responsible for the internal audit activities of the
Company, including any portion thereof that is outsourced
to a third-party service provider. He reports functionally to
the AC and administratively to the President and CEO. In
the discharge of his duties, the Chief Audit Officer/Internal
Audit Head is required to provide annually, an assessment
on the adequacy and effectiveness of the Company’s
processes for controlling activities and managing risks;
report significant issues related to the processes of
controlling activities, including potential improvements to
such processes, as well as provide information concerning
such issues; and periodically provide information on
the status and results of the annual internal audit plan
and the sufficiency of our internal audit organization’s
resources. Other duties of the Chief Audit Officer/Internal
Audit Head are set forth in the CG Manual.
External Auditor. The Company’s external auditor is
appointed by the AC which reviews its qualifications,
performance and independence. To ensure objectivity
in the performance of its duties, the external auditor is
subject to the rules on rotation and change, every five
years; general prohibition on hiring by the Company
of the external auditor’s staff; and full and appropriate
disclosure to, and prior approval by the AC of all audit and
non-audit services and related fees. Approval of non-audit
work by the external auditor is principally tested against
the standard of whether such work will conflict with its
role as an independent auditor or would compromise its
objectivity or independence as such. Our external auditor
is SGV & Co., a member practice of EY.
Chief Governance Officer. The primary responsibilities
of the Chief Governance Officer include monitoring
compliance with the provisions and requirements
of corporate governance laws, rules and regulations,
reporting violations and recommending the imposition
of disciplinary actions, and adopting measures to
prevent the repetition of such violations. The Chief
Governance Officer assists the Board and the GNSC in
the performance of their governance functions. Under
the supervision and direction of the Chief Governance
Officer, the Corporate Governance Office assists in the
implementation of the corporate governance policies
adopted by the Board.
Chief Risk Management Officer. The Chief Risk
Management Officer (“CRMO”) is tasked to: (i) plan the
overall strategy of the different risk management units of
the PLDT Group; (ii) review individual risk management
activities and controls of the operational units; (iii) review
internal and external factors that can negatively affect
the PLDT Group risk profile; (iv) influence, and when
necessary, challenge material risk decisions and initiatives;
(v) monitor to ensure that risks are within the bounds of
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PLDT 2021 ANNUAL REPORT
the risk appetite of the PLDT Group; and (vi) review and
escalate risks to the Top Management Team, the Risk
Committee and the Board, as necessary, advising them on
requisite actions.
Group Enterprise Risk Management Department
(“GRMD”). The GRMD provides support to the CRMO by
implementing an integrated risk management program
with the goal of identifying, analysing and managing
the PLDT Group’s risks to an acceptable level in order
to enhance opportunities, reduce threats, and sustain
competitive advantage. The implementation of the
enterprise risk management (“ERM”) process ensures
that critical risks are well understood and effectively
managed across all functions and units within the PLDT
Group. This is achieved through the operationalisation of
the Enterprise Risk Management Framework (“ERMF”), a
standardised approach to risk identification, assessment
and management. The ERMF is aligned to the ISO 31000
Risk Management Standard, COSO’s Enterprise Risk
Management Framework, risk considerations found in
the S&P Global Corporate Sustainability Assessment, and
GRI Standards. The GRMD manages execution of the
Three Lines of Defense Model to ensure that all layers
of the organization contribute to managing enterprise
risks through the implementation of identified controls
and mitigation strategies. The GRMD facilitates the risk
assessment exercise of the Management Committee,
implements activities to build an effective culture of
risk across the organization, and communicates and
reports significant risk exposures, including business
risks, control issues and risk mitigation plans to the Risk
Committee. The GRMD Head supervises the ERM process
and spearheads the development, implementation, and
improvement of ERM processes and documentation, and
communicates the top risks and status of implementation
of risk management strategies and action plans to the
CRMO, Chief Executive Officer, and the Risk Committee.
Chief Sustainability Officer. The Chief Sustainability
Officer (“CSO”) heads the Sustainability Office and assists
the President and Chief Executive Officer and the Board
in overseeing the Company’s overall sustainability strategy
and its implementation to ensure that the Company’s
conduct of business gives due importance to people,
profit and planet.
Chief Data Privacy Officer. The Chief Data Privacy Officer
(“CDPO”) heads the Privacy Office and is tasked to (i)
ensure the PLDT Group’s compliance with data privacy
laws, regulations, and best practices; (ii) provide direction
to and coordinate closely with PLDT Group business
units to ensure effective implementation of data privacy
strategies including policies, procedures, processes,
and compliance review; and (iii) collaborate with data
protection authorities on behalf of the PLDT Group.
Chief Information Security Officer. The Chief Information
Security Officer (“CISO”) heads the Cyber Security
Operations Group and is tasked to (i) improve, develop and
implement information and cybersecurity-related policies,
processes and technologies; (ii) ensure compliance with
applicable laws, regulations and standards; (iii) manage
cybercrime related cases; (iv) collaborate with government
and other private entities in the campaign against cyber
threats and/or cybercrimes foreign and domestic; and
(v) ensure alignment of all PLDT Group companies on
information and cybersecurity-related practices.
POLICIES & PRACTICES
PLDT follows the corporate governance and sustainability
standards prescribed by Philippine law or recommended
under rules and regulations of the SEC and the PSE. As a
foreign private issuer with American Depositary Shares
listed and traded in the NYSE, PLDT also complies with
governance standards laid out in the relevant laws of the
US and rules and regulations of the US SEC and NYSE.
Being an associated company of First Pacific Company
Ltd., a company listed in the Hong Kong Stock Exchange,
PLDT also benchmarks with the governance standards of
Hong Kong.
Corporate Governance Framework. PLDT’s corporate
governance framework is embodied in the integrated
system of governance structures, policies and processes
set forth in PLDT’s Articles of Incorporation, By-Laws,
Manual on Corporate Governance, Code of Business
Conduct and Ethics and Corporate Social Responsibility
Statement. Our business principles are embodied in
implementing policies including the Supplier/Contractor
Relations Policy, Conflict of Interest Policy, Expanded
Whistleblowing Policy, Policy on Gift-Giving Activities,
Policy on Gifts, Entertainment and Sponsored Travel,
Material Related Party Transactions Policy, Guidelines
on Related Party Transactions, and Disclosure Rules,
among others. The Company promotes a culture of good
corporate governance through the implementation
of these corporate governance policies, including the
CG Manual, Code of Ethics and related policies. PLDT’s
key subsidiaries have adopted corporate governance
rules and policies similar in substance and form to the
foregoing corporate governance policies and suited to
their particular business environments and contexts
and appointed their respective corporate governance or
compliance officers.
All corporate governance policies of the Company are
reviewed at least once every two years to ensure that
they are appropriate for PLDT, benchmarked with global
best practices, and compliant with applicable law and
regulations. In 2021, PLDT’s Board of Directors acting
through its Governance, Nomination and Sustainability
Committee, reviewed the Company’s Policy on Gifts,
Entertainment and Sponsored Travel, Policy on Gift-Giving
Activities, Expanded Whistleblowing Policy, and Supplier/
Contractor Relations Policy, and determined that these
policies remain compliant with applicable law, regulations
and best practices and are appropriate for the Company.
Manual on Corporate Governance (“CG Manual”).
Our CG Manual defines our corporate governance
framework and structure. Supplementary to PLDT’s
Articles of Incorporation and By-Laws, it assigns and
delineates functions and responsibilities, and entrusts
powers, authorities and resources for the execution
of such functions and responsibilities. The CG Manual
provides, among other matters, the composition and
responsibilities of the Board, the Company’s duties
towards its shareholders in general, its minority
shareholders and its other stakeholders, and the
Company’s obligation to comply with applicable
disclosure rules.
A copy of the CG Manual can be found at the
PLDT website through the QR code:
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HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
Code of Business Conduct and Ethics (“Code of Ethics”).
Our Code of Ethics defines the Company’s corporate
governance principles of Integrity, Accountability,
Transparency and Fairness, which the Company shall
observe in the conduct of its business. It sets the
governance and ethical standards that shall govern
and guide all business relationships of the Company, its
directors, officers and employees.
A copy of the Code of Ethics is found at the
PLDT website through the QR code:
The implementation of the Code of Ethics is reinforced
by enabling policies such as the Supplier/Contractor
Relations Policy; Expanded Whistleblowing Policy; Gifts,
Entertainment and Sponsored Travel Policy; and Policy on
Gift-Giving Activities which, in conjunction with the Code
of Ethics, embodies the Company’s anti-corruption policy.
Conflict of Interest Policy (“COI Policy”). This policy
enjoins PLDT’s directors, employees and consultants to
promptly disclose conflict of interest situations to the
relevant authorities. If warranted, the person concerned
should obtain appropriate approvals and inhibit from any
action, transaction or decision involving an existing or
potential conflict of interest. The Company has established
an online conflict of interest disclosure system to facilitate
the immediate disclosure of conflicts of interest.
Material Related Party Transactions (“MRPT”) Policy
and Guidelines on the Proper Handling of Related Party
Transactions (“RPT Guidelines”). The Policy provides
the processes, controls and safeguards for the proper
handling of related party transactions, including review,
approval and disclosure, consistent with applicable laws
and regulations. The MRPT Policy applies to related
party transactions that meet the Materiality Threshold as
therein defined and covers PLDT and the PLDT Group.
On the other hand, related party transactions that are
below the Materiality Threshold in the MRPT Policy
are covered by the RPT Guidelines. The RPT Guidelines
provides the process of review, approval and disclosure
of the Company’s RPTs that are subject to review and
approval by the designated authorities. The review’s
principal focus is whether an RPT is on arm’s length terms
and in the best interest of PLDT and its shareholders as
a whole, considering all relevant circumstances. MRPTs
are reviewed by the Audit Committee, which is composed
entirely of independent directors, and subject to approval
by the Board. The Head of Financial Reporting and
Controllership Sector, in coordination with the Company’s
Disclosure Committee, is responsible for the disclosure
of RPTs in the relevant financial reports of the Company
as required under Philippine Accounting Standard 24,
Related Party Disclosures, and other applicable disclosure
requirements.
Policy on Gifts, Entertainment and Sponsored Travel
(“Gifts Policy”). The Gifts Policy provides safeguards in
the receipt and acceptance of gifts given by third parties
to ensure that such gifts would not affect the objective,
independent or effective performance by directors,
officers and employees of their duties to the Company.
The Company has established an online Gifts disclosure
system to facilitate the immediate disclosure of offers or
receipt of Gifts from Third Parties.
Policy on Gift-Giving Activities (“Gift-Giving Policy”).
PLDT’s Gift-Giving Activities, which, together with the
Code of Ethics, embodies the Company’s anti-corruption
policy, prohibits direct and indirect bribery and corrupt
practices in compliance with applicable laws and
regulations. The Gift-Giving Policy provides guidance and
procedural safeguards with respect to gift-giving activities
to government officials and employees and to business
partners, for or on behalf of the Company. The Policy
seeks to ensure that such activities are compliant with
applicable laws, respectful of the intended recipient’s gifts
policy, and consistent with PLDT’s core values and policies.
For the effective implementation of the anti-corruption
policy: (a) the Gift-Giving Policy provides specific guidance,
procedural safeguards and internal controls pertaining
to the offering or giving of gifts which are prohibited or
those which are regulated by law; (b) its implementation
is reinforced by related policies such as the Company’s
Corporate Governance Guidelines for Suppliers which
prohibits bribery in connection with business transactions
involving the Company and its suppliers, as well as
Company policies on gifts, entertainment and sponsored
travel, whistleblowing, supplier relations and conflict
of interest; and (c) it is carried out through appropriate
monitoring and preventive measures, which include
internal controls, training and communication programs,
whistleblowing facilities, third party due diligence and
enforcement mechanisms.
Supplier/Contractor Relations Policy. This Policy
establishes clear rules for arm’s length transactions and
fair treatment of prospective and existing suppliers.
The Policy specifically adopts the processes of vendor
accreditation and competitive bidding as the general rule
to ensure that contracts are awarded only to qualified
and duly accredited vendors who offer the best value for
money for PLDT’s requirements.
Expanded Whistleblowing Policy (“EWB Policy”).
This Policy provides guidelines on handling employee
disclosures or complaints regarding (i) violations of
corporate governance rules, including the aforementioned
CG policies; (ii) questionable accounting and auditing
matters; and (iii) violations or offenses (other than
those in (i) and (ii) above) covered by the Company’s
Human Resources Manual. The EWB Policy protects
whistleblowers and witnesses from retaliation, and to
ensure confidentiality and fairness in the handling of a
disclosure or complaint, PLDT maintains a Whistleblowing
Helplines and other reporting facilities, such as a
dedicated electronic mailbox, special contact number,
post office box and facsimile transmission system.
All employees and stakeholders who come forward
in good faith to report violations or any act that may
be considered as contrary to the Company’s values
may submit a disclosure or complaint regarding such
violation to the Corporate Governance Office located
at the 4/F Makati General Office Building, de la Rosa
corner Legaspi Streets, Makati City or via electronic mail
at CGOHotline@pldt.com.ph. In Smart, disclosure or
complaints may be reported to governancematters@
smart.com.ph. Anonymous disclosures or complaints are
allowed and duly processed, subject to certain conditions.
In all processes and activities related to a whistleblowing
disclosure/complaint, utmost confidentiality is observed
in order to ensure the integrity of the process and protect
the parties, employees or officers who are allegedly
involved therein.
54
PLDT 2021 ANNUAL REPORT
As of December 31, 2021, no new whistleblowing
complaints were received by PLDT, PLDT Global
Corporation, ePLDT, Inc., Digital Telecommunications
Philippines, Inc. and Digital Mobile Philippines, Inc.
One (1) whistleblowing case was received by Smart
Communication, Inc. which is under preliminary
evaluation. On the other hand, PLDT received a total
of eight (8) new reports for the covered period which
are deemed to be: (a) under the jurisdiction of line
management, in accordance with the Company’s
standard reporting procedures, and/or (b) outside the
scope of the EWB Policy or process.
Out of the eight (8) cases, four (4) reports were already
resolved and closed, while the other four (4) reports
are pending preliminary evaluation or remain under
investigation/administrative proceedings.
Protection of Technology Resources and Information
The PLDT Group has established a Corporate Information
Security Policy that is applicable to PLDT, Smart and DMPI,
which contains policy statements and standards relating
to the proper use of social media, data security, as well as
the protection of information assets and the proper use of
technology resources.
digital infrastructure. The Group’s end-to-end operations
was especially customized by CSOG taking into careful
consideration the threat landscape, our network
infrastructure, and the products and services offered
by the Group. The Group’s investment in protection
technologies integrate these Predictive, Preventive,
Detective and Responsive capabilities. The processes and
tools being implemented to be able to perform these
functions are reflected in the diagram below.
PLDT’s Cyber Security Operations Group (“CSOG”),
headed by the CISO, is tasked to create, implement
and operationalise the Group’s Information Security
Management Systems framework and to support the
review and update of its security policy and its supporting
standards.
In 2021, the Group’s cyber security strategy continued
to focus on protecting the Company’s critical assets.
CSOG’s internal processes are focused on this function
which comprise our operations framework consisting
of Predictive, Preventive, Detective and Responsive
capabilities. The Predictive capability refers to the pre-
attack stage when cyber threats are proactively identified
prior to reaching the Group’s environments; the Preventive
and Detective capabilities take effect during an attack to
minimize exposure of Group assets, while the Responsive
capability addresses the post-attack scenario in order to
accelerate response and minimize the impact of related
operational, legal, financial, reputational and compliance
risks. This approach is in line with the goal of establishing
a cyber-resilient and trusted telecommunications and
Our CSOG adopts multiple layers of defense that are
designed to reduce exposure to emerging threats, provide
visibility into the threat landscape, slow down attackers’
progress, and detect attacks before they can do serious
damage.
Anchored on the belief that employees are an integral
part of our strategy, CSOG recognizes that it is critical to
shape employee behavior and provide motivation for
risk-based decisions in order to have the right mindset
and attitude in doing the right thing. Hence, a robust, no-
nonsense Cybersecurity Awareness Program has become
one of the pillars of our employee engagement strategy
through the conduct of various campaigns, weekly
awareness infographics, and regular phishing simulations
to address the human aspect of cyber security. Efforts in
this regard led to the prevention of possible incidents of
phishing and other email-based scams in PLDT, Smart
and/or ePLDT. In addition, CSOG has established the Cyber
Cyber Security Operational Framework
MANAGEMEN
R ISK MANA
C U R I T Y
R I S E
P
R
T
S
Y
S
T
E
G
E
M
M
E
N
T
IN F O
E
S
EN T E
Pre-Attack
Post
Attack
During
Attack
Predictive
• Periodic VAPT (Static
and Dynamic)
• Cyber Threat Intelligence
• Threat Hunting (External)
Responsive
• Identification of infected devices
• Isolation of compromised devices
• Incident response and reporting
• Investigation
Preventive
• Server hardening
• Secure DNS
• NAC
• IAM, PAM
• Security patching
• Source code review
• Enterprise risk management
Detective
• Perimeter security devices
• Network security
• Endpoint security
• Web app security
• Threat Hunting (Internal)
Governance, Risk, Compliance and Security Operations Center
55
HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
Warrior Course Cadetship Program (the “Program”), which
is the first online internship program of PLDT and Smart.
Under the Program, interns from various schools were
immersed in the daily activities of a CSOG employee, i.e.,
the “cyber warriors”. The interns were rotated among the
different CSOG Pillars for familiarization with CSOG’s end-
to-end operations with the goal of instilling a security-
centric mindset.
Our CSOG, together with various stakeholders across
the enterprise, also held the “Cyber D-Day: Cyber Crisis
Simulation Exercise” wherein participants within the PLDT
Group were subjected to a non-live, “peace-time” scenario.
The successful run of the first Cyber D-Day v1.0 simulation
exercise resulted to the baselining of cybersecurity
response capabilities through testing of existing policies,
protocols and technology and improvements in incident
response. Recognizing the proliferation of ransomware
as a leading cybersecurity risk, Cyber D-Day v2.0 was held
in July 2021. The activity was successful in aligning the
respective actions of CSOG, IT and Network in the Incident
Response process to recover from a ransomware attack.
These exercises show the Company’s continued efforts
in ensuring that measures are in place to immediately
address any threat.
to online child sexual abuse and exploitation materials
(“CSAEM”) within its network, both on the domain and
content level. Additionally, users who access restricted
websites or URLs shall be redirected to the NTC Landing
Page. This solution utilizes strategic alliances with
intelligence units and dedicated organizations through
various means such as the integration of the Internet
Watch Foundation Automation Tool and the application of
information from the Canadian Centre for Child Protection
for the blocking of CSAEM. As of December 2021, PLDT and
Smart recorded an accumulation of over 154,000 blocked
URLs linked to CSAEM. Through this initiative, the PLDT
Group is able to fuel its spirit of “malasakit” by promoting
a safer and cleaner cyberspace to its subscribers,
especially the children who are the most susceptible to
becoming victims of online abuse and exploitation.
Apart from this initiative, a groundbreaking ceremony for
the MVP Cybersecurity Center for Excellence was held on
January 2021 at the Villamor Air Base. This engagement
between PLDT and Smart and the Philippine Air Force
and the Armed Forces of the Philippines further elucidates
the Group’s mission of ensuring that the Philippines is safe
from cyber threats.
In line with the PLDT Group’s Child Safeguarding Policy to
ensure the online protection of children, a Child Protection
Platform solution was developed as part of the multi-
billion-peso investment on cyber security. Embedded into
the 24/7 cyber security operations, this solution allows
CSOG to continuously detect, respond, and prevent access
The PLDT Group continues to strive to protect the
delivery of digital services that the organization needs
to be successful, agile and resilient. Beyond protection,
the Group aims to continue its pursuit of cyber
security operational excellence, mature and sustain its
competencies and serve as a frontline contributor to the
growth of the business.
Personal Data Protection
Responsible stewardship. The Company continued to
improve its policies and processes, gaining important
learning from its experience in managing its various
privacy programs, addressing privacy incidents, and
responding to data subject concerns. In 2021, the
Company updated its Breach Management Standards,
Personal Data Privacy Risk Management Standards,
Privacy Impact Assessment (“PIA”) Standards—including
a new PIA template, Records of Data Processing Activities
Standards, and Privacy Management Program Standards.
The Privacy Office also ramped up the implementation of
the Data Privacy Management Assurance Platform, which
will help automate and digitize documentation for the
Company’s privacy operations. The platform will help all
units in the Company comply with the Company’s privacy
and data protection standards.
The Privacy Office worked closely with the People Group
to ensure that privacy and data protection measures are
in place when the MVP Group embarked on “We Got Your
Vac”, the vaccination of employees and their dependents
for the member companies and partners. A privacy
impact assessment conducted under the guidance of the
Privacy Office ensured that privacy risks were identified
and addressed as the MVP Group planned and continues
to implement the vaccination program.
In service to the community. The year 2021 was marked
by the onslaught of scams conducted online and via
SMS. The Privacy Office and the Cybersecurity Operations
Group spearheaded PLDT and Smart’s cooperation
with the National Privacy Commission and the National
Telecommunications Commission in protecting PLDT and
Smart subscribers. Smart was decisive in immediately
acting to cut the scammers’ capability to send out the
phishing SMS that deceived mobile users into giving
their personal information and parting with their hard-
earned money. PLDT and Smart also took timely remedial
measures such as taking down the identified URLs used
by the scammers, a public information campaign to
educate the public on the scammers’ modus operandi
and sharing the results of its investigation with the
government regulators.
The Privacy Office took part in PLDT and Smart’s
education campaign for online safety, the “CyberSmart
Online Caravan”. The series of events organized for
students, teachers, and school administrators is intended
to equip participants with the skills and knowledge to
protect themselves in their digital activities. The Privacy
Office discussed data subject rights and how these are
important tools in ensuring that privacy and personal
data are protected. It also answered questions on
dealing with data breaches and remedies of victims of
unauthorized use of personal data. The Privacy Office
likewise emphasized the importance of personal vigilance
in protecting the students against privacy violations.
Recognition for privacy advocacy. PLDT was one of the
finalists in the National Privacy Commission’s Privacy
Awareness Week Awards for 2021 for the category, PIC-
Initiative of the Year. PLDT’s “DPO YOUniverse” is a privacy
and data protection communication campaign for PLDT
employees and consultants. The campaign aims to instill
a culture of privacy within PLDT and includes an annual
e-learning course, a web series that depicts the everyday
56
PLDT 2021 ANNUAL REPORT
work experiences of employees as they deal with privacy
and data protection issues, and regular infographics on
various privacy-related topics.
Blackout Periods/Restriction on Trading of Shares.
PLDT’s Code of Ethics prohibits directors, officers and
employees from dealing in the Company’s shares when
in possession of material non-public information about
and involving the Company and in any exceptional case,
prior notice to the Company should be made of any
such dealing, in accordance with the Company’s Policy
on Blackout Period/Restriction on Trading of Shares. To
enable the timely filing of the required disclosures to the
SEC and the PSE, directors and officers are enjoined to
report to the Company their dealings in the Company’s
shares, within three trading days from the date of the
transaction, regardless of whether such dealings were
made during or outside the blackout periods.
RESTRICTIONS ON BUYING AND/OR SELLING PLDT SHARES
PLDT 2021 Results/Reports
Results/Reports Release Dates
Blackout Periods
Q1
Q2
Q3
May 6, 2021
August 5, 2021
April 21 – May 10, 2021
July 21 – August 9, 2021
November 4, 2021
October 20 – November 8, 2021
Full Year Unaudited Financial Results
March 3, 2022
February 1 – March 7, 2022
PLDT and Smart employees attend annual and monthly trainings on various programs conducted by HR including the Mobile Number
Portability (MNP) cascades and #AllTogetherNow.
57
HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
DIRECTORS’ AND OFFICERS’ SHAREHOLDINGS
IN THE COMPANY IN THE YEAR 2021
The Company has clear policies regarding the trading by directors, officers and employees in the
Company’s own securities intended to align their interests with those of the shareholders and
other stakeholders. See Restriction on Trading of Shares. NUMBER OF COMPANY SHARES1
Trading in Company shares by directors and officers in the year 2021 are presented in the table below.
A. Directors
Manuel V. Pangilinan
Manuel L. Argel, Jr.
Helen Y. Dee
Ray C. Espinosa
James L. Go
Kazuyuki Kozu5
Bernido H. Liu
Artemio V. Panganiban
Alfredo S. Panlilio7
Albert F. Del Rosario
Bernadine T. Siy7
Naoki Wakai8
Marife B. Zamora
B. Officers
Anabelle L. Chua
Victorico P. Vargas
Marilyn A. Victorio-Aquino9
Gina Marina P. Ordoñez
Mary Rose L. Dela Paz
Mario G. Tamayo
Ma. Lourdes C. Rausa-Chan10
Alejandro O. Caeg
Juan Victor I. Hernandez11
Menardo G. Jimenez, Jr.
Katrina L. Abelarde
Benedict Patrick V. Alcoseba13
Ma. Carina J. Amparo14
Marco Alejandro T. Borlongan
Mary Julie C. Carceller
NUMBER OF COMPANY SHARES1
Starting Balance2
Acquired
Disposed
Ending Balance3
16,000
8,000
59,570
2,400
2,000
11,340
1,240
165
284,911
1
25,1204
31,743
876,154
16
1
5,371
15,5056
142,410
1,5006
16
60
24,378
12,965
10,300
5,141
3,260
6,575
9,800
9,315
4,733
8,044
3,881
1,454
015
3,053
0
300,911
1
25,120
39,743
935,724
1
1
7,771
17,505
142,410
1,500
1
60
24,378
12,965
21,640
5,141
4,500
6,575
9,800
9,315
2,54812
8,044
1,881
1,304
0
3,053
0
2,350
2,000
150
1 Includes directly and indirectly owned shares in the Company. Changes in
shareholdings were disclosed in the Statements of Changes in Beneficial
Ownership of Securities filed with the Securities Exchange Commission and
Philippine Stock Exchange, Inc. and posted on the Company website at PLDT
Investor Relations>Shareholder Information>Beneficial Ownership.
2 As at December 31, 2020
3 As at December 31, 2021
4 Includes 2,780 shares for the account of Michelle Y. Dee-Santos and 245
shares under the name of Helen Y. Dee, both under PCD Nominee Corporation
and 21,957 shares owned by Hydee Management Corporation. As chairperson
and president of Hydee Management Corporation, Ms. Dee may exercise the
voting right in respect of the 21,957 shares of Hydee Management Corporation.
5 Elected as director of the Company on July 6, 2021, replacing Mr. Junichi
Igarashi who resigned effective at the close of business on July 5, 2021
6 As of date of election as director
7 Elected as director of the Company on June 8, 2021
8 Elected as director of the Company on August 26, 2021, replacing Mr. Shigeki
Hayashi who resigned effective at the close of business on August 25, 2021
9 Appointed Corporate Secretary effective January 25, 2022
10 Ceased as Corporate Secretary and Chief Governance Officer of the
Company effective at the close of business on January 24, 2022
11 Separated effective November 16, 2021
12 As of date of separation
13 Promoted to First Vice President effective November 4, 2021
14 Appointment as First Vice President effective May 1, 2021 was confirmed by
the Board in its meeting held on November 4, 2021
15 As of date of appointment
58
PLDT 2021 ANNUAL REPORT
NUMBER OF COMPANY SHARES1
Starting Balance2
Acquired
Disposed
Ending Balance3
Bernard H. Castro
Marisa V. Conde16
Joseph Michael Vincent G. Co13
Joan A. De Venecia-Fabul
Gil Samson D. Garcia
Joseph Ian G. Gendrano
Victor Emmanuel S. Genuino II17
John John R. Gonzales13
Ma. Criselda B. Guhit
Leah Camilla R. Besa-Jimenez
Princesita P. Katigbak
Albert Mitchell L. Locsin
Florentino D. Mabasa, Jr.18
Leo I. Posadas
Dale M. Ramos
Angel T. Redoble
Aileen D. Regio
Luis S. Reñon
Jeanine R. Rubin20
Bernadette C. Salinas
Patrick S. Tang22
Victor Y. Tria
Jude Michael H. Turcuato
Melissa V. Vergel de Dios23
John Henri C. Yanez
Catherine Y. Yang
Ma. Magdalene A. Tan24
Abner Tito L. Alberto25
Maria Cecilia H. Abad
Minerva M. Agas
Cecille M. Alzona
Elizabeth S. Andojar
Roy Victor E. Añonuevo
Tito Rodolfo B. Aquino, Jr.
Mitchie M. Arcaina
Jerameel A. Azurin
Francis A. Bautista
Rafael M. Bejar
Dianne M. Blanco
Wilson S. Bobier
Luis Gregorio D. Casas
0
2,325
0
244
33
1,712
015
1,128
2,694
3,480
1,475
2,478
3,661
3,065
2,660
1,105
2,052
55
021
669
0
2,167
0
3,435
968
1,900
0
9221
633
1,625
266
1,090
551
890
250
1,304
767
1,275
20
612
211
0
2,32512
0
244
33
897
0
1,128
2,694
3,480
1,475
8
3,66119
4,265
2,660
1,105
202
55
0
669
0
2,167
0
3,635
968
1,900
0
92
633
1,625
266
1,090
551
890
250
1,304
767
1,275
20
612
321
215
1,030
70
2,540
1,850
1,200
200
110
16 Separated effective February 1, 2021
17 Appointment as First Vice President effective February 1, 2021 was confirmed
by the Board in its meeting held on March 25, 2021
18 Ceased as Assistant Corporate Secretary of the Company effective at the
close of business on June 8, 2021
19 As of date of separation
20 Appointment as First Vice President effective April 1, 2021 was confirmed by
the Board in its meeting held on August 5, 2021
21 As of date of appointment
22 Promoted to First Vice President effective November 4, 2021
23 Appointed Chief Sustainability Officer effective November 4, 2021
24 Appointed Officer-In-Charge of Corporate Governance effective January 25,
2022
25 Appointed Assistant Corporate Secretary effective June 8, 2021 and
promoted to Vice President effective November 4, 2021
59
NUMBER OF COMPANY SHARES1
Starting Balance2
Acquired
Disposed
Ending Balance3
Benjamin Jose C. Causon, Jr.26
Melvin Jeffrey C. Chan28
Ma. Monica M. Consing
Branden B. Dean
Ramil C. Enriquez26
Gene S. de Guzman
Aniceto M. Franco III
Leonard A. Gonzales
Silverio S. Ibay, Jr.
Gary F. Ignacio
Marven S. Jardiel
Alexander S. Kibanoff
Javier C. Lagdameo
Ser John S. Layug26
John Henry S. Lebumfacil29
Armando Dodjie T. Lim
Czar Christopher S. Lopez
Paolo Jose C. Lopez
Ma. Carmela F. Luque
Mark David P. Martinez26
Loreevi Gail O. Mercado
Oliver Carlos G. Odulio
Jonston Prince W. Ong30
Carlo S. Ople31
Charles Louis L. Orcena
Serviliano L. Padiz, Jr.
Raymond A. Racho
Genaro C. Sanchez
Maria Christina C. Semira
Ma. Merceditas T. Siapuatco
Arvin L. Siena
Carla Elena A. Tabuena
Jecyn Aimee C. Teng
Milan M. Topacio
Ma. Delia V. Villarino32
Radames Vittorio B. Zalameda
29727
027
298
0
55327
1,132
756
0
1,295
1,108
1,444
1,444
1,775
56527
11027
532
1,970
1,500
1,635
11627
1,312
1,484
0
1,338
325
499
576
5,723
969
1,295
1,488
1,362
652
457
033
932
297
0
298
0
553
1,132
756
0
1,295
1,108
1,444
1,444
1,875
565
110
532
1,970
1,500
1,635
116
1,312
1,484
0
43
25
499
576
5,723
969
1,295
1,488
1,362
52
457
0
932
100
105
1,400
300
600
26 Promoted to Vice President effective November 4, 2021
27 As of date of appointment
28 Appointment as Vice President effective June 1, 2021 was confirmed by the
Board in its meeting held on November 4, 2021
29 Appointment as Vice President effective November 1, 2020 was confirmed
by the Board in its meeting held on March 25, 2021
30 Separation from service to take effect March 31, 2022
31 Separation from service to take effect April 1, 2022
32 Appointment as Vice President effective May 16, 2021 was confirmed by the
Board in its meeting held on November 4, 2021
33 As of date of appointment
60
TRAINING & EDUCATION
The Company provides orientation and continuous
training for its Board, Management and employees. New
directors are briefed by the Chairman, President and CEO,
Chief Financial Officer, Corporate Secretary and Chief
Governance Officer on the Company’s structure, business,
operating and financial highlights, responsibilities of
the Board and its Committees and how each operates.
At or before such orientation, copies of all relevant
corporate documents, including the Company’s Articles
of Incorporation, By-laws, Annual Report, CG Manual,
Code of Ethics, and the Charters of the Board Committees
are furnished to new directors. Updates on business and
governance policies and requirements, and new laws
applicable or relevant to the Company and its business are
presented in Board meetings or furnished to directors. For
the continuous training of its directors and officers, the
Board, acting through its Governance, Nomination and
Sustainability Committee, conducts an Annual In-House
Corporate Governance Enhancement Session (“ACGES”)
that provides an opportunity for leadership to engage in
discussion with international and local experts on relevant
topics, including emerging trends and technologies, new
laws and best business practices.
For employees, the People Group (“PG”) in collaboration
with various support teams in PLDT and Smart, conducts
orientation and periodic training and refresher sessions
on Company policies, skills building, and wellness and
development. For new officers, the Corporate Governance
Office in collaboration with PG, conducts orientation
on the Company’s governance structure, corporate
governance and related policies, and Management’s role
and responsibilities. At the end of such orientation, copies
of all corporate governance policies, including the CG
Manual and Code of Ethics, are furnished to new officers.
Corporate governance orientation sessions for officers
and employees include a discussion of the Gift-Giving
Policy that prohibits bribery and corruption in compliance
with applicable laws. In 2021, an online corporate
governance refresher course was made available to PLDT
and Smart employees, and in-person online refresher
courses were likewise conducted for newly promoted
PLDT management employees and Groups in PLDT and
Smart with specific training needs. Employee training is
supplemented by appropriate communication materials
and feedback mechanisms.
To ensure that lines of communication between
employees and Management are available and accessible,
Whistleblowing Helplines and advisories were issued,
an online knowledge hub of all Corporate Governance
Policies was completed and guidance on conflict of
interest disclosure, Gift-Giving and Gift-Receiving Policies
was cascaded. As part of culture-building initiatives
in Smart, the #CGSerye and #CGQ&A were launched
to provide guidance on the application of corporate
governance policies, while the #CGVACS initiative
provided inspirational weekly quotes with express
permission from “The Conscience Code” author, scholar,
and Wharton School professor, Mr. G. Richard Snell.
Chairman MVP and President & CEO Al Panlilio with ACGES 2 speaker, Ms. Anna Wintour; ACGES 2 host, Atty. Mike T. Toledo; Independent Director
and Penshoppe Group Chairman & CEO, Mr. Bernido H. Liu during his Closing Remarks; and ACGES 2 co-host, Ms. Rissa Mananquil-Trillo.
61
HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
MONITORING & EVALUATION
PLDT monitors and evaluates the effectiveness of its
corporate governance through the following, among other
initiatives: (i) an annual performance self-assessment
conducted by the Board and the Board Committees, (ii) the
periodic review of the effectiveness of the implementation
of the Company’s CG policies, (iii) the annual compliance
evaluation conducted by Management, and other tools
employed to monitor the implementation of the CG
policies.
In 2021, an annual self-assessment was conducted by the
Board to evaluate its performance as the Board, as well
as each Board Committee, and the individual directors.
The process, which also includes an evaluation of the
performance of the CEO and Management, enables the
Board to identify strengths and areas for improvement and
to elicit individual director’s feedback and views on the
Company’s strategy, performance, and future direction.
The members of the Board and the Board Committees
accomplish their respective self-assessment questionnaires
for this purpose.
PLDT monitored and evaluated its compliance with
CG rules through a cross-functional evaluation system
whereby the heads of the various business and support
groups/units conduct an evaluation of their group/unit’s
CG compliance. The periodic process uses an evaluation
questionnaire consisting of the governance standards
set forth in the CG Code for PLCs which are applicable
and relevant to their respective functions. The results of
the evaluation conducted by the heads are consolidated
as input to the Company’s Integrated Annual Corporate
Governance Report (“I-ACGR”) submitted to the SEC and
PSE. PLDT likewise confirmed its compliance with its CG
Manual which contains relevant provisions of the CG Code
for PLCs and certain corporate governance standards
under the US Securities Exchange Act and NYSE Listed
Company Manual.
In compliance with the respective memorandum circulars
of the SEC and the PSE, PLDT filed its I-ACGR on June
29, 2021, within the extended deadline of the SEC for
submission due to the Covid-19 pandemic.10 PLDT has
incorporated CG standards in the performance evaluation
of employees and has included violations of CG rules as
a cause for disqualification from incentives and rewards
in its Policy on Employee Qualification for Incentives and
Rewards. As applicable, PLDT conducts employee surveys
to gain insights into the effectiveness of its corporate
governance programs and initiatives. Valuable information
is additionally obtained and analysed from the results
of and feedback from our education activities, reports
from business partners, customer complaints, reported
violations and other sources of relevant information.
STAKEHOLDER ENGAGEMENT
The Company’s General Practice on Stakeholder
Engagement (“GP on Stakeholder Engagement”) aims to
promote a culture of good governance by the observance
of the Company’s core principles of integrity, accountability,
fairness and transparency in dealings with its stakeholders.
preemptive right; the right to inspect corporate books and
records, including minutes of Board meetings and stock
registries, subject to certain conditions; right to timely
receive relevant information, whether in printed or digital
form; right to dividends; and appraisal right.
In 2021, the GP on Stakeholder Engagement
was reviewed and updated, and a copy is
posted on the website at QR code:
In fulfilling our commitments to our stakeholders, we
are guided by our Code of Ethics and Corporate Social
Responsibility Statement (“CSR Statement”). The CSR
Statement is the articulation of our belief that helping
to improve the overall well-being of the Filipino people
is an integral part of our business. The CSR Statement
enumerates the broad responsibilities that PLDT assumes
as it operates and conducts its business. Pursuant to the
CSR Statement, the PLDT Group’s social programs leverage
its communications and digital services and the volunteer
spirit of its employees to implement projects in education,
agriculture, livelihood, health, arts, disaster preparedness,
environment, digital tourism, sports, internet safety and
digital wellness that aim to help Filipinos change their lives
for the better. The Company’s CSR programs and activities
are reported in the Company’s Sustainability Report that is
released annually since 2016.
Investors/Shareholders. PLDT respects, promotes and
upholds shareholders’ rights such as, the right to vote;
The Board promotes transparency and fairness in the
conduct of the annual and special stockholders’ meetings
of the Company and explores and implements steps
to reduce excessive or unnecessary costs and other
administrative impediments to stockholders’ participation
in annual and special stockholders’ meetings. Stockholders
are encouraged to personally attend such meetings, raise
questions, and exercise their voting rights. Online voting
and participation by remote communication was made
available to all stockholders from 2020, consistent with the
Revised Corporation Code and related SEC issuances and in
keeping with Covid-19 precautions.
Within a reasonable period of time before the meeting,
stockholders are apprised of their right to appoint a proxy
in case they are unable to personally attend such meeting
and give their voting instructions in the proxy form
provided. Relevant meeting materials such as the Notice,
Agenda, Information Statement and Annual Report are
made available to the stockholders in printed or digital
form and through the Company’s website to enable them
to make a sound and informed judgment on all matters
tabled for their consideration or approval. In 2021, pursuant
to SEC guidelines, the electronic copy of the Information
10 PSEC Notice dated May 25, 2021 extended the deadline for the filing of the I-ACGR [from May 30, 2021] to June 30, 2021 recognising the difficulties that the
Covid-19 pandemic and the imposition of the General Community Quarantine may present on the ability of Publicly-Listed Companies to timely comply with the
filing requirement.
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PLDT 2021 ANNUAL REPORT
Statement, 2020 Management Report, 2020 Annual Report
in SEC Form 17-A and Quarterly Report for the first quarter
2021 in SEC Form 17-Q were posted on the Company’s
website and the PSE Edge, and the Notice and Agenda
were published in two (2) newspapers of general circulation
(in print and online format).
PLDT was able to pay out approximately
60% of its core earnings for the year 2021.
Information on PLDT’s 2021 Dividend
Declarations is available through the QR
code:
The Company held its Annual Stockholders’ Meeting
(“ASM”) in virtual format on June 8, 2021 with holders
of 84.79% of the Company’s total outstanding shares of
Common and Voting Preferred Stocks as of the Record
Date April 12, 2021 present via remote communication
or represented by proxies in the meeting. The recorded
webcast of the ASM was posted on the Company’s website
for two consecutive weeks.
To view the Minutes of the 2021 PLDT ASM,
please access this QR code:
The Board ensures the disclosure and
filing of reports with the SEC, PSE and, as applicable, US
SEC and NYSE and posting on the Company’s website,
immediately after the meeting or the day after the
meeting, of all significant actions taken in the meeting
and the votes obtained for each of such actions.
The Board ensures that material information and
transactions that could potentially affect the market price
of the Company’s shares are timely disclosed and filed
with the SEC, PSE and as applicable, with the US SEC and
NYSE. In this regard, information on, among other matters,
earnings results, acquisition or disposal of significant
assets, off balance-sheet transactions, related party
transactions, Board membership changes, shareholdings
of directors and officers and any changes thereto, and
remuneration of directors and officers are promptly and
accurately disclosed.
Disclosures/ organizational announcements
for the year 2021 may be accessed on the
Company’s website through the QR code:
PLDT regularly conducts quarterly analysts’
and investors’ briefings to discuss financial and operating
results, podcasts of which are posted in the Investor
Relations section of the PLDT website. Our Investor
Relations Center has regular engagements and meetings
with fund managers and investors, which include access
to PLDT Management. Shareholders who wish to raise
matters or concerns relating to the business of the
Company, their investments and rights may elevate such
matters to the Corporate Secretary, the Investor Relations
Officer, concerned units of PLDT’s Management or the
Board.
The Company’s dividend policy provides a regular
dividend payout rate of 60% of Core Earnings Per Share as
regular dividends. The dividend policy takes into account:
(i) the elevated levels of capital expenditures to build a
robust, superior network to support the continued
growth of data traffic; (ii) plans to invest in new adjacent
businesses that will complement the current business
and provide future sources of profits and dividends; and
(iii) management of cash and gearing levels. In the event
that no investment opportunities arise, the Company
may consider the option of returning additional cash to
shareholders in the form of special dividends or share
buybacks.
Customers. PLDT serves a broad range of customers
from individuals, residential, micro, small and medium
enterprise and large enterprise, including the public
sector. We continuously endeavor to provide best-in-class
experiences to fulfill our customers’ needs and
expectations on responsive products and services, quality
of service, pricing, application process, service provisioning
process, repair and restoration service and the billing and
payment services. We engage with our customers through
various traditional and digital touchpoints with the
end view of knowing and understanding their product
and service needs, promptly addressing their concerns
and identifying areas where we could further enhance
customer experience.
In 2021, in order to address the needs of customers amid
the pandemic, the following projects, among others, were
initiated by the Company:
•
•
•
•
Customer service automation & self-care solutions.
Several of our customer service transactions
have been digitally enabled, including frequently
requested concerns and self-care options for our
customers. From June 2021, customers were able
to check the status of their service application and
repair requests through the Company’s chatbot,
hotline IVR, web and SMS services. Additionally, from
September 2021, our customers were also able to find
out in advance if their account is part of a scheduled
service interruption by using our PLDT TRACK service
available through SMS and web at www.pldthome.
com/pldt-tracker.
Customer education programs. The PLDT Cares
YouTube channel was launched in July 2021 where
video content with PLDT digital ambassadors is
featured. Customers can learn from these how-to
videos on a wide range of topics including simple to
complex service-related issues and concerns. We have
strengthened our efforts to assist new customers by
delivering regular customer education content about
troubleshooting, billing, payments and value-added
services through SMS and email channels.
Customer experience improvements. To understand
our customers better, we have completed journey
mapping workshops with internal stakeholders such
as Billing, Collections, Sales, Marketing, Zones and
Network teams to create a blueprint that will enable
us to serve our customers’ needs. We have also
partnered with leading global industry experts in CX
measurement to allow us to approximate customer
satisfaction and net promoter scores starting
December 2021.
Legal & regulatory support on Mobile Number
Portability Act. In support of the implementation
of the Mobile Number Portability Act in September
2021, we have equipped our frontline channels via
hotline, social media, web and stores to accept port-in
requests from customers to the Smart network in a
fast and convenient way.
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HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
•
•
•
•
Personalized customer servicing. We have piloted
several programs to serve the increasing needs of
our customers through proactive service monitoring,
scheduled maintenance notifications and emergency
outage advisories.
next horizon of products and services, including the
development and implementation of capability building
initiatives, series of targeted hiring in local and global
markets and the revival of the Management Associate
program.
Billing & credit efficiency programs. Improvements in
our billing systems were implemented starting July
2021 and existing billing cycles in the system were
rationalized. This resulted to new customers being
assigned to the billing cycle nearest the day of service
activation thereby preventing pro-rated charges.
A digital environment requires a strong learning culture.
This is supported by PLDT’s corporate university that
utilizes all learning modalities for the best reach and an
internal career opportunity marketplace to enable talent
mobility for all its employees.
Assistance to calamity-affected customers. As part
of our efforts to assist customers affected by the
ongoing Covid-19 pandemic and typhoons, especially
the victims of Typhoon Odette in December 2021,
the Company has offered several relief options to
subscribers in the form of payment extensions,
temporary disconnections, installment payment
schemes and proactive bill rebates. Alternative
service solutions in the form of “libreng tawag” and
“libreng charging stations” were also set-up in areas
where connectivity remained a challenge in severely
affected areas.
Digital Field Operations Roll-out. Continuous
improvements have been implemented to transform
how we serve our customers better during installation
and repair activities. Customers are better informed
of the status of their installation and repair requests
by automated processes performed by our service
providers from July 2021.
Employees. PLDT respects the dignity, rights, and
interests of its employees, among which are the right to
self- organization, safe and healthy working conditions,
professional development, and community-building
social activities. The value of employees to the business
is underscored by the inclusion of people and culture
transformation among the shared Company goals.
Identifying, developing, and retaining talent is a core
responsibility and accountability of every leader. Anchored
on the foundational premise that the Company’s
treatment of its employees will influence how employees,
in turn, deliver service to customers, PLDT embeds
employee experience at the core of all people initiatives,
programs, and processes. Three principles guide the
employee experience design: leader-led, employee-
owned, digital-enabled. The vision for digital market
leadership is hinged on a high-performing culture,
and PLDT continuously engages employees to aspire
for this goal by aligning groups and individuals to the
Company’s shared goals and ensuring that the Company’s
performance management system is performance driven
and coaching centered. A digital platform is in place that
enables a standard performance management system
across PLDT and Smart. Supporting the objective of
shaping a high-performing culture is a Total Rewards
Program that is merit-based and addresses both short-
term and long-term transformation goals. Compensation
and incentives are determined on the bases of
performance and accomplishment. Two major rewards
programs are in place: the Short-term Incentive Plan
(“STIP”) and the Transformation Incentive Plan (“TIP”).
To ensure that we enable the best integrated telco
strategy, PLDT relentlessly pursues its agenda on
succession management. Working with our Leaders on
present requirements is an urgent groundwork activity
while creating a talent pipeline and ecosystem for the
64
PLDT organizes engagement programs that prioritize
the well-being of employees and strengthen the
quality of work relationships. These allow employees to
engage in a broad range of character-developing and
relationship building activities through CSR, sports,
special interest groups, and family-oriented programs.
Formal channels for employee feedback are made
available through engagement surveys conducted at
regular intervals to give employees the opportunity to
share their perspectives about relevant Company matters.
Digital and social platforms are optimized for employee
crowdsourcing and internal communication.
Management-led digital dialogues provide opportunity
for employees across various parts of the country to
directly interact and voice out their suggestions and
recommendations to top management.
Regulators. PLDT operates within relevant legislative
and regulatory frameworks and complies with the
requirements thereunder which are applicable to it. We
participate in public policy forums, conferences and
hearings conducted by government and regulatory
agencies on disaster response, recovery and relief efforts
due to the effects of natural calamities and the Covid-19
pandemic on subscribers and the nation at large.
PLDT also participates in legislative hearings relative
to initiatives and proposed legislation in the fields of
Information and Communication Technology (“ICT”),
corporate governance and labor-related matters. Our
“Internet for All” advocacy and investments in network
infrastructure and technologies to provide the widest
coverage and superior quality of service at affordable
prices are aligned with and support the Government’s
objectives set out in the Public Telecommunications
Policy Act.
Suppliers. PLDT maintains mutually beneficial
relationships with like principled suppliers that uphold
PLDT’s core values of fairness, accountability, integrity
and transparency in their own businesses. Suppliers
undergo an accreditation process before they engage in
business with PLDT. Among the criteria for accreditation
are financial and technical capability, compliance with
applicable laws, including those pertaining to industrial
relations, environment, health and safety, intellectual
property rights, cyber security, data privacy and
sustainability. The Company’s purchases, as a general rule,
are made on the basis of competitive bidding among
accredited and qualified suppliers.
Creditors. In accordance with our Code of Ethics, we
protect the rights of our creditors by publicly disclosing
all material information, such as earnings results and
risk exposures relating to loan covenants. Our disclosure
controls and procedures also include periodic reports
to our creditors such as our latest certified financial
statements, no default certification, and certification
on compliance with financial ratio limits. PLDT’s credit
PLDT 2021 ANNUAL REPORT
has been rated at investment grade by two major
international credit rating agencies as of yearend 2021.
Communities. In the spirit of service to Filipino
communities, the PLDT Group continues to build
on its CSR programs by leveraging on its expertise,
technological strength, and corporate culture. Serving
the community is an integral part of making technology
accessible to all. With our technology and services, PLDT
and Smart are well-positioned to provide much needed
assistance to communities. Our role and core competence
are that of an ‘enabler’- providing the technical skills,
technologies and resources in key areas where PLDT
and Smart have chosen to help develop communities:
education, livelihood, health, arts, disaster preparedness
and response, environment, agriculture, internet safety
and digital wellness, digital tourism and sports.
ADVOCACY & NETWORKING
As part of its commitment to the United Nations
Global Compact (“UNGC”), PLDT and Smart are
signatories to the Statement from Business Leaders
for Renewed Global Cooperation. The Companies are
registered under the UNGC as the only Philippine
telco participants, a tier higher than signatories
limited to local engagement. Participants actively
engage with the UNGC at the global level to
integrate into their companies’ operations, the
organization’s Ten Principles on human rights, labor,
environment and anti-corruption.
against online sexual abuse and exploitation of children
(“OSAEC”), membership in the coalition is an expression of
the Group’s commitment to curtail OSAEC and
comply with the Anti-Child Pornography Law (Republic
Act No. 9775).
As IWF members, PLDT and Smart have access to a wide
database of OSAEC materials which are integrated into
the Group’s own child protection platform, a step froward
in the Group’s continuing efforts to protect children and
subscribers and making cyberspace safe by blocking
access to exploitative content on the internet.
PLDT continues to work with institutions and
organizations engaged in programs and advocacy efforts
in the field of corporate governance, compliance and
business ethics. As a sponsoring partner member of the
Ethics and Compliance Initiative (“ECI”), PLDT has access
to ECI’s vast online library on governance and related
topics and opportunities to attend and participate in
discussion groups and training sessions, as well as interact
with other governance and ethics professionals around
the world. In the process, PLDT is able to benchmark its
governance practices against those of leading companies.
Locally, PLDT is a premium member of the Integrity
Initiative, Inc. and a member of the Good Governance
Advocates and Practitioners of the Philippines (“GGAPP”).
PLDT also participates in the activities of the Institute of
Corporate Directors (“ICD”) and its sister institute in the
public sector, the Institute for Solidarity in Asia (“ISA”).
PLDT supports the advocacy for better governance and
ethics in business as manifested in the Company’s policy
against corruption and bribery set forth in its Code of
Ethics and Policy on Gift-Giving Activities and reinforced
in specific policies such as the Gifts Policy, Supplier/
Contractor Relations Policy, Corporate Governance
Guidelines for Suppliers, which prohibit bribery or acts
which may be construed as bribery involving third parties
in business dealings with the Company. These policies
are implemented through anti-corruption programs
and measures such as internal controls, training and
communication, whistleblowing system, third party due
diligence, and support for and participation in multi-
sectoral anti-corruption initiatives to eliminate graft and
corruption.
To demonstrate its commitment to the United Nations
Global Compact (“UNGC”), PLDT and Smart are signatories
to the Statement from Business Leaders for Renewed
Global Cooperation. The Companies are registered under
the UNGC as the only Philippine telco participants, a tier
higher than signatories limited to local engagement.
Participants actively engage with the UNGC at the global
level to integrate into their companies’ operations, the
organization’s Ten Principles on human rights, labor,
environment and anti-corruption
In 2021, PLDT and Smart formalized membership in the
UK-based Internet Watch Foundation (“IWF”). As
the first companies in the Philippines to join the global
coalition of more than 150 organizations in the fight
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HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
ENTERPRISE
RISK MANAGEMENT
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PLDT 2021 ANNUAL REPORT
The PLDT Group aims to
empower its workforce
to make risk-intelligent
decisions that will
protect and increase
shareholder value.
“Strengthening our ability to manage
risks is a key element to create a resilient
future for the enterprise.”
Alfredo S. Panlilio,
PLDT and Smart President and CEO
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HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
The PLDT Group’s commitment to the proactive management of existing and emerging risks is reinforced by the Group
Enterprise Risk Management Department (GRMD). The GRMD, under the leadership of the Chief Risk Management
Officer (CRMO), develops and manages a comprehensive integrated risk management program that is implemented
across all levels of the organization, with the goal of managing the Group’s risks to an acceptable level, so as to enhance
opportunities, reduce threats, and thus create even more value for the business and its stakeholder
In 2020, the GRMD engaged in the implementation of restructured policies, processes, and tools of the updated ERM
framework. Enhancements include a revised approach to determining Risk Appetite and the adoption of the 3 Lines of
Defense Model - a regulated framework designed to facilitate an effective risk management system by clarifying roles of
management, various risk control and compliance oversight functions, and Internal Audit. To aid in the implementation
of the updated ERM Framework, a new Governance, Risk, and Compliance (GRC) platform was developed to improve
the collection of risk information and enhance risk analysis/monitoring capabilities. These enhancements will help the
GRMD comply with regulatory requirements, develop an intelligent risk culture within the company, promote active risk
assessment and monitoring, and facilitate real-time reporting of risks.
In 2021, the GRMD revisited their strategy and anchored development of the ERM practice to help the Company achieve
its environmental, social, and governance (ESG) goals. Strategic focus was put on recalibrating the rollout to increase
impact across the organization via activation of the Risk Oversight Network.
The PLDT Group Risk Management Philosophy Statement
The PLDT Group adopts a risk philosophy that recognizes risks as integral to its business thereby committing itself to
managing these risks with the aim of attaining its business objectives, thus enhancing shareholder value.
The PLDT Group operates in a complex and dynamic business environment which gives rise to a variety of risks that
can be both threat and opportunity. Recognizing that these risks are an integral part of its business, the PLDT Group is
committed to managing its overall risk exposure in a systematic way and in such a manner that supports its strategic
decision-making process. Accordingly, the PLDT Group employs a comprehensive, integrated risk management program,
effected across all levels of the organization, with the goal of identifying, analyzing and managing the Group’s risks to
an acceptable level, so as to enhance opportunities, reduce threats, and thus sustain competitive advantage. The PLDT
Group believes that an effective risk management program will contribute to the attainment of objectives by PLDT and
its subsidiaries, thus creating value for the business and its stakeholders.
ISO 31000: RISK MANAGEMENT PROCESS
ESTABLISH THE CONTEXT
IDENTIFY RISKS
ANALYZE RISKS
EVALUATE RISKS
TREAT RISKS
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MONITORING
AND REVIEW
COMMUNICATE
AND CONSULT
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PLDT 2021 ANNUAL REPORT
The Enterprise Risk Management Framework and Process
The GRMD promulgates and encourages the adoption of a standard risk evaluation process focused on the need to
properly identify, analyze, evaluate, treat and monitor risks that may affect the achievement of business objectives. The
ERM process implemented is based on the International Standard of ISO 31000. The implementation of the ERM process
ensures that high-priority risks are well understood and effectively managed across all functions and units within the
PLDT Group.
To assist in the execution of the ERM process, the GRMD has adopted The Committee of Sponsoring Organizations of the
Treadway Commission’s (COSO) Three Lines of Defense Model. This model safeguards contribution of all organizational
levels to managing enterprise risks by ensuring controls are in place, and crafting appropriate mitigation strategies.
Risk Committee
The Risk Committee assists the PLDT Board in overseeing Management’s adoption and implementation of a system for
identifying, assessing, monitoring and managing key risk areas. The committee reviews Management’s reports on the
Company’s major risk exposures as well as Management’s plans and actions to minimize, control or manage the impact
of such risks.
The GRMD reports to the PLDT Risk Committee on a quarterly basis and to the PLDT Board of Directors on a semi-annual
basis on developments with regard to the Group’s risk management activities.
PLDT Group Top Risks
The GRMD, under the leadership of the Chief Risk Management Officer, promulgates and encourages the adoption
of a standard risk evaluation process focused on the need to properly identify, analyze, evaluate, treat and monitor
risks that may affect the achievement of business objectives. A risk assessment exercise was undertaken by the Top
Management Team to identify and prioritize the most important risks affecting the PLDT Group for 2021. The top risks
for 2021, listed in no particular order of criticality, are: (i) prolonged pandemic; (ii) slow economic recovery; (iii) increasing
competitive situation; (iv) inability to manage issues on customer experience; (v) inability to successfully execute critical
transformation programs; (vi) inability to design and implement the organization’s future mode of operations; (vii cyber
security incidents and data privacy breaches; (viii) increased political and regulatory changes/scrutiny; (ix) climate-related
risks, including regular occurrence of natural disasters; and (x) timely identification and escalation of risk issues.
GOVERNING BODY, BOARD, RISK COMMITTEE & AUDIT COMMITTEE
SENIOR MANAGEMENT
1ST LINE OF DEFENSE
2nd LINE OF DEFENSE
3rd LINE OF DEFENSE
Management
Controls
Internal Control
Measures
Financial Control
Security
Risk Management
Quality
Inspection
Compliance
Three Lines of Defense Model
Internal Audit
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HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
MANUEL V. PANGILINAN
MANUEL L. ARGEL, JR
HELEN Y. DEE
BOARD OF DIRECTORS
Manuel V. Pangilinan | 75, Filipino
He has been a director of PLDT since November 24, 1998. He was
appointed as Chairman of the Board of Directors of PLDT after
serving as its President and Chief Executive Officer from November
1998 to February 2004. Since January 1, 2016, he also held the
position of President and Chief Executive Officer of PLDT until
June 7, 2021, and served as President and Chief Executive Officer
of Smart Communications, Inc. (“Smart”) until August 7, 2019. Mr.
Pangilinan is the Chairman of the Governance, Nomination and
Sustainability, Executive Compensation, Technology Strategy, and
Data Privacy and Information Security Committees of the Board
of Directors of PLDT. He also serves as Chairman and President of
Metro Pacific Investments Corporation (“MPIC”), Chairman of Manila
Electric Company (“Meralco”), PXP Energy Corporation and Philex
Mining Corporation, and Vice Chairman of Roxas Holdings, Inc., all
of which are PSE-listed companies, and of several subsidiaries or
affiliates of PLDT or MPIC, including, among others, Smart, Digitel
Mobile Philippines, Inc. (“DMPI”), Digital Telecommunications
Phils, (“Digitel”) PLDT Communications & Energy Ventures, Inc.,
ePLDT, Inc., Beacon Electric Assets Holdings Inc., Philex Petroleum
Corporation, Manila North Tollways Corporation, Maynilad Water
Services Corporation, Landco Pacific Corporation, Metro Pacific
Hospital Holdings, Inc., Medical Doctors Incorporated (Makati
Medical Center), Colinas Verdes Corporation (Cardinal Santos
Medical Center), Davao Doctors Incorporated, Riverside Medical
Center Incorporated, Our Lady of Lourdes Hospital and Asian
Hospital Incorporated. He is also the Chairman of MediaQuest
Holdings Inc., TV5 Network, Inc. and PLDT-Smart Foundation.
Mr. Pangilinan founded First Pacific Company Limited (“First
Pacific”), a Hongkong Stock Exchange-listed company, in 1981 and
serves as its Executive Chairman, Managing Director and Chief
Executive Officer. Within the First Pacific Group, he also holds the
position of President Commissioner of P.T. Indofood Sukses Makmur
Tbk, the largest food company in Indonesia.
Outside the First Pacific Group, Mr. Pangilinan is the Chairman of
the Board of Trustees of San Beda College and Amateur Boxing
Association of the Philippines, a governing body of amateur boxers
in the country, and the Chairman Emeritus of the Samahang
Basketbol ng Pilipinas. He is also the Chairman of Philippine
Business for Social Progress, the largest private sector social action
organization made up of the country’s largest corporations and
a Co-Chairman of the Philippine Disaster Resilience Foundation,
Inc., a non-stock, non-profit foundation established to formulate
and implement a reconstruction strategy to rehabilitate and
rebuild areas devastated by floods and other calamities, and of the
US-Philippine Business Society, a non-profit society which seeks
to broaden the relationship between the United States and the
Philippines in the areas of trade, investment, education, foreign and
security policies and culture.
Mr. Pangilinan has received numerous prestigious awards including
the Business Icon Gold Award for having greatly contributed
to the Philippine economy through achievements in business and
society by Biz News Asia magazine (2008), Global Filipino Executive
of the Year for 2010 by Asia CEO Awards, and Philippines Best CEO
for 2012 by Finance Asia.
Mr. Pangilinan graduated cum laude from the Ateneo de Manila
University, with a Bachelor of Arts Degree in Economics. He received
his Master’s Degree in Business Administration from Wharton
School of Finance & Commerce at the University of Pennsylvania,
where he was a Procter & Gamble Fellow. He was conferred a Doctor
of Humanities Degree (Honoris Causa) by the San Beda College
(2002), Xavier University (2007), Holy Angel University (2009) and Far
Eastern University (2010).
Retired Judge Manuel L. Argel, Jr. | 72, Filipino
He has been a director of PLDT since January 28, 2020. He is a
member of the Social Security Commission, the Governing Board of
the Social Security System (“SSS”) and shares the responsibility for
the governance of the SSS in terms of providing policy directions,
monitoring, and overseeing management actions. He is a member
of the Risk Management and Investment and Audit Committees of
the SSC. He also performs quasi-judicial functions through decisions
rendered on cases involving SSS coverage, benefits, contributions
and penalties.
He started his law career as an associate of private full-service
law firms until he formed his own law firm in 1981. While in
private practice, Retired Judge Argel was accredited in 1995 as
a Voluntary Labor Arbitrator of the National Conciliation and
Mediation Board. He also served as President of the Integrated
Bar of the Philippines (Ilocos Chapter) from 1993 to 1995, Provincial
Secretary of the National Citizens’ Movement for Free Elections,
Chairman of the Ilocos Sur Local Amnesty Board, and member of
the People’s Assistance Development Action Center, Inc. His stint
in the government started when he was elected as a member of
the Sangguniang Bayan of Vigan City in 1980. In 2008, he received
the Legislator’s award given by the City Government of Vigan in
recognition of his accomplishments and contributions as former
legislator of Vigan City. In 1995, he was appointed as Regional Trial
Court (RTC) Judge of Laoag City, and served as Executive Judge
from 2005 to 2007 and Presidential Assistant for Region 1 in the
Philippine Judges Association. He retired from the Judiciary in 2015.
His record of public service as a judge was marked by a very high
degree of competence, integrity, dedication and independence. He
obtained his Bachelor of Arts in Philosophy and Bachelor of Laws
Degrees from San Beda College.
Helen Y. Dee | 78, Filipino
She has been a director of PLDT since June 18, 1986. She is the
Chairperson of EEI Corporation, House of Investments, Petro Energy
Resources Corporation, Rizal Commercial Banking Corporation,
all of which are PSE-listed companies. She is the Chairperson, Vice
Chairperson or a director of several companies engaged in banking,
insurance and real property businesses, banking, insurance and
real property businesses. Ms. Dee received her Master’s Degree in
Business Administration from De La Salle University.
Atty. Ray C. Espinosa | 66, Filipino
He has been a director of PLDT since November 24, 1998, and
is a member of the Technology Strategy and Data Privacy and
Information Security Committees of the Board of Directors of PLDT.
He was Senior Advisor to the President and CEO of PLDT from
January 28, 2019 until June 8, 2021. He was PLDT’s Chief Corporate
Services Officer from December 2016 until January 28, 2019, and
previously served as President and CEO of ePLDT Inc. and its
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PLDT 2021 ANNUAL REPORT
HELEN Y. DEE
RAY C. ESPINOSA
JAMES L. GO
KAZUYUKI KOZU
subsidiaries from July 2000 until April 2010 and as President and
CEO of TV5 Network Inc. and Cignal TV, Inc. from December 2009
until May 2013. In June 2013, he joined First Pacific Company Limited
as Associate Director.
Atty. Espinosa is also the President and CEO of Meralco. He is
a director of Roxas Holdings Inc., an independent director of
Lepanto Consolidated Mining Company and chairman of its Audit
Committee, and an independent director of Maybank Philippines
Inc. and chairman of its Risk Management Committee. He is the
chairman of the Philstar Group of Companies and BusinessWorld
Publication Corporation. He is a trustee of the PLDT-Smart
Foundation Inc. and the Beneficial Trust Fund of PLDT.
He has a Master of Laws degree from the University of Michigan
School of Law and a Bachelor of Laws degree from the Ateneo de
Manila University School of Law, and is a member of the Integrated
Bar of the Philippines. He was a partner at SyCip Salazar Hernandez
& Gatmaitan from 1982 to 2000, a foreign associate at Covington
and Burling (Washington, D.C.) from 1987 to 1988, and a law lecturer
at the Ateneo de Manila University School of Law from 1983 to 1985
and 1989. He placed first in the 1982 Philippine Bar Examinations.
James L. Go | 83, Filipino
He has been a director of PLDT since November 3, 2011. He is a
member of the Technology Strategy and Risk Committees and
Advisor of the Audit Committee of the Board of Directors of PLDT.
He is the Chairman of JG Summit Holdings, Inc. and Cebu Air, Inc.,
the Chairman and Chief Executive Officer of Oriental Petroleum
and Minerals Corporation, and the Chairman Emeritus of Universal
Robina Corporation, Robinsons Land Corporation, JG Summit
Petrochemical Corporation, and JG Summit Olefins Corporation.
He is the Vice Chairman of Robinsons Retail Holdings, Inc. and a
Director of the Manila Electric Company and Meralco Powergen
Corporation. He is also the President and Trustee of the Gokongwei
Brothers Foundation, Inc. Mr. Go obtained his Bachelor of Science
Degree and Master of Science Degree in Chemical Engineering
from Massachusetts Institute of Technology, USA.
Kazuyuki Kozu | 49, Japanese
He has been a director of PLDT since July 6, 2021. He was the
Director of Core Network Development Department of NTT
DOCOMO, INC., Tokyo, Japan. Prior to that, he served as Senior
Manager of Packet Network System Development Department
of DOCOMO Technology, Inc., Tokyo, Japan from September 2016
to June 2020, Director of System Management Department of
mmbi Inc., Tokyo, Japan from September 2013 to August 2016,
and Senior Manager of Networking Research Group of DOCOMO
Communications Laboratories, Munich, Germany from April 2010
to August 2013. He started his career in NTTT DOCOMO, INC., Tokyo,
Japan, as Engineer from April 1997 to March 2002 then Manager
from April 2002 to March 2010 of Core Network Development
Department. He graduated with a Bachelor’s Degree in Electrical
Engineering and Computer Science from the Yokohama National
University, Kanagawa, Japan and obtained his Master’s Degree
in Electrical Engineering and Computer Science from the same
university.
Bernido H. Liu | 59, Filipino
He has been an independent director of PLDT since September
28, 2015 and is an independent member of the Audit, Governance,
Nomination and Sustainability, Executive Compensation, Risk,
and Data Privacy and Information Security Committees of the
Board of Directors of PLDT. Concurrently, he is the Chairman and
Chief Executive Officer of GOLDEN ABC, Incorporated. (“GABC”), a
fashion retail company which designs and sells its own clothing,
personal care and accessory lines marketed and retailed under a
dynamic portfolio of well-differentiated proprietary brands, namely
Penshoppe, OXGN, ForMe, Memo, Regatta and BOCU. He is also the
Group Chairman of LH Paragon Incorporated, a business holdings
company which has under its management GABC and other
companies in various industries, namely, Matimco Incorporated,
Oakridge Realty Development Corporation, Basic Graphics
Incorporated, Essentia Medical Group Incorporated, and Greentree
Food Solutions, Inc.
Mr. Liu and GABC under his leadership have been recognized by
different award-giving bodies. Awards include the Agora Award
for Outstanding Achievement in Entrepreneurship from the
Philippine Marketing Association, Ten Outstanding Young Men for
Entrepreneurship, Global Retailer of the Year from the Philippine
Retailers Association and the Department of Trade and Industry,
and the ASEAN Business Award of Excellence for Priority Integration
Sector in Retail. Mr. Liu graduated with a Bachelor of Science
Degree in Architecture from the University of San Carlos, and
completed the Executive Education Owner/President Management
Program of the Harvard Business School.
Retired Chief Justice Artemio V. Panganiban | 85, Filipino
IHe has been an independent director of PLDT since April 23, 2013
and is serving as an independent member of the Audit, Governance,
Nomination and Sustainability, and Executive Compensation
Committees, and Chairman of the Risk Committee, of the Board of
Directors of PLDT. He was appointed as Lead Independent Director
effective March 21, 2019. He served as an independent member
of the Advisory Board and an independent non-voting member
of the Governance and Nomination Committee of the Board of
Directors of PLDT from June 9, 2009 to May 6, 2013. Currently, he is
also an independent director of Meralco, Petron Corporation, Metro
Pacific Investments Corporation, GMA Network, GMA Holdings, JG
Summit Holdings, Inc. Asian Terminals, Inc. and RL Commercial
REIT, Inc., and a regular director of Jollibee Foods Corporation, all
of which are PSE-listed companies, as well as Senior Adviser of
Metropolitan Bank and Trust Company, a member of the Advisory
Council of the Bank of the Philippine Islands and an adviser of
Double Dragon Properties, Corp. and Merry Mart Consumer Corp.
He is also Chairman of the Board of Trustees of the Foundation for
Liberty and Prosperity, and of the Board of Advisers of Metrobank
Foundation, Inc., a trustee of Tan Yan Kee Foundation and Claudio
Teehankee Foundation, President of the Manila Metropolitan
Cathedral-Basilica Foundation, a member of the Advisory Board
of World Bank (Philippines), Chairman-Emeritus of the Philippine
Dispute Resolution Center, Inc., Chairman of the Philippine National
Committee of the Asean Law Association, Designated Chairperson
of the Permanent Court of Arbitration in The Hague, Netherlands,
and a column writer of the Philippine Daily Inquirer.
Hon. Panganiban served the Supreme Court of the Philippines
for more than 11 years, first as Associate Justice (October 10, 1995
to December 20, 2005) and later, as Chief Justice (December 21,
2005 to December 6, 2006) during which he sat concurrently as
Chairperson of the Presidential Electoral Tribunal, Judicial and
Bar Council and Philippine Judicial Academy. He has received
over 250 awards in recognition of his role as jurist, practicing
lawyer, professor, civic leader, Catholic lay worker and business
entrepreneur, including “The Renaissance Jurist of the 21st
Century” given by the Supreme Court on the occasion of his
71
HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
BERNIDO H. LIU
ARTEMIO V. PANGANIBAN
ALFREDO S. PANLILIO
ALBERT F. DEL ROSARIO
BERNADINE T. SIY
retirement from the Court. Hon. Panganiban graduated cum laude
from Far Eastern University with a Bachelor of Laws Degree in
1960, and was conferred a Doctor of Laws Degree (Honoris Causa)
by the University of Iloilo (1997), Far Eastern University (2002),
University of Cebu (2006), Angeles University (2006) and Bulacan
State University (2006). He was co-founder and past president of the
National Union of Students of the Philippines.
Alfredo S. Panlilio | 59, Filipino
He has been a director, President and Chief Executive Officer of PLDT
since June 8, 2021, and the President and CEO of Smart since August
8, 2019. He is a member of the Technology Strategy and an Advisor
of the Governance, Nomination and Sustainability and Data Privacy
and Information Security Committees of the Board of Directors of
PLDT. Within the PLDT Group, Mr. Panlilio holds leadership positions
as: Chairman, President and CEO of ePLDT, Inc., IP Converge Data
Services, Inc., and Mabuhay Investments Corporation; Chairman and
President of ABM Global Solutions, Inc., Curo Tecknika, Inc., ePDS, Inc.,
IPC Rack It Data Center, Inc., VITRO Inc., ACeS Philippines Cellular
Satellite Corporation, and Smart Broadband, Inc.; Chairman of Maya
Bank, Bonifacio Communications Corporation, Telesat, Inc., PLDT
Clark Telecom, Inc., PLDT Subic Telecom, Inc., PLDT-Maratel, Inc., and
PLDT-Philcom, Inc.; director, President and CEO of Digitel and DMPI;
President and CEO of Talas Data Intelligence, Inc.; President of MVP
Rewards and Loyalty Solutions, Inc., Airborne Access Corporation, PLDT
Communications and Energy Ventures, Inc., and Primeworld Digital
Systems, Inc.; director of PLDT Global Corporation; and trustee of PLDT-
Smart Foundation and Asian Carriers Conference Inc.
During Mr. Panlilio’s previous tenure in PLDT before returning as its
Chief Revenue Officer on July 1, 2019, he served as Senior Vice President
from May 2001 to December 2010 and was the President of PLDT Global
Corporation from June 2004 to December 2010.
Prior to returning to PLDT Group, Mr. Panlilio was the Senior Vice
President and Head of Customer Retail Services and Corporate
Communications at Manila Electric Company (Meralco) from
September 10, 2010 to June 30, 2019. Within the Meralco Group, Panlilio
served as Chairman of Radius Telecoms, Inc., e-Meralco Ventures
Inc., Paragon Vertical Corporation, Powersource First Bulacan Solar,
Inc. and Pure Meridian Hydropower Corporation. He was the Vice
Chairman of Aclara Meters Philippines, Inc., a director of CIS Bayad
Center Inc., Corporate Information Solutions, Inc., Customer Frontline
Solutions, Inc., Meralco Energy, Inc., MRAIL Inc., Meralco Industrial
Engineering Services Corporation, Comstech Integration Alliance, Inc.
and MSpectrum, Inc. Mr. Panlilio was also a trustee of One Meralco
Foundation, Inc. (OMFI) and Meralco Power Academy, and an Associate
Board Member of Semiconductor and Electronics Industries in the
Philippines, Inc. (SEIPI).
A veteran executive who started his career with IBM Philippines and
rose through the ranks, Mr. Panlilio is also a director of Cignal TV, Inc.,
Asean Telecom Holdings Sdn. Bhd. (ATH), Chikka Holdings Limited,
Connectivity Unlimited Resources Enterprises, Inc., Wifun, Inc., and
Vega Group of Companies, an independent director of CEMEX Holdings
Philippines, Inc., a member of the Board of Governors of Makati Central
Estate Association, Inc. (MACEA); and a trustee of Kapampangan
Development Foundation, and Philpop Musicfest Foundation, Inc.
An advocate of the value of sports in maintaining a strong republic,
Mr. Panlilio sits as President of the MVP Sports Foundation, Second
Vice President of FIBA Asia Central Board, First Vice President of the
Philippine Olympic Committee and Chairman of the FIBA Basketball
World Cup 2023 local organizing committee. He is also the Governor
of the Meralco Bolts Team under the Philippine Basketball Association
and President of Samahang Basketbol ng Pilipinas. Panlilio is also the
Treasurer of the National Golf Association of the Philippines and Manila
Golf Country Club, Inc.
Bearing testament to his achievements as President and CEO of PLDT
and Smart, Mr. Panlilio was among PeopleAsia’s “Men Who Matter”
awardees for 2021 and was cited by London-based award-giving body
Total Telecom under the CEO of the Year category of the 2020 Asia
Communication Awards. He was previously honored as CEO Excel
Awardee of the International Association of Business Communicators
Philippines in 2013, was one of seven finalists in the Rising Star
(individual) category of the PLATTS Global Energy Awards 2015 held
in New York, and has received multiple local and international awards
for customer management and business communication excellence
throughout his 37-year career.
A Member of the Management Association of the Philippines, Mr.
Panlilio holds a Bachelor of Science Degree in Business Administration
(Computer Information Systems) from San Francisco State University.
He obtained his Master in Business Administration at J. L. Kellogg
School of Management of Northwestern University and the Hongkong
University of Science and Technology.
Former Ambassador Albert F. del Rosario | 82, Filipino
He has been a director of PLDT since July 11, 2016 and is a member of
the Technology Strategy Committee of the Board of Directors of PLDT.
He was the former Secretary of Foreign Affairs of the Philippines from
February 2011 to March 2016 and also served as Philippine Ambassador
to the United States of America from October 2001 to August 2006.
Prior to entering public service, he was on the Board of Directors of
various firms. His business career for over four decades has spanned
the insurance, banking, real estate, shipping, telecommunications,
advertising, consumer products, retail, pharmaceutical and food
industries.
Ambassador del Rosario is the Chairman of Philippine Stratbase
Consultancy, Inc., Gotuaco del Rosario Insurance Brokers, Inc., Stratbase
ADR Institute, Inc., Citizens for Promoting Human Rights, Inc. and
a director of Metro Pacific Investments Corporation and Rockwell
Land Corporation (both PSE-listed companies), Indra Philippines,
Inc., Metro Pacific Tollways Corporation, Two Rivers Pacific Holdings
Corporation, Metro Pacific Resources, Inc., Metro Pacific Holdings, Inc.,
Metro Pacific Asset Holdings, Inc., Philippine Telecommunications
Investment Corporation, Enterprise Investments Holdings, Inc.
Mediaquest Holdings, Inc., Cignal TV, Inc., TV5 Network, Inc., Studio5,
Inc., Businessworld Publishing Corp., Satventures, Inc., Hastings
Holdings, Inc., Nation Broadcasting Corporation, Med Vision Resources,
Inc., Telemedia Business, Ventures, Inc., Upbeam Investments, Inc., BTF
Holdings, Inc. and Asia Insurance (Phil.) Corp. He is also a trustee of the
Carlos P. Romulo Foundation for Peace & Development and Philippine
Cancer Society, Inc. and a member of Asia Society Global Council and
an Advisory Board of CSIS Southeast Asia Program and Metrobank
Foundation, Inc.
Ambassador del Rosario received numerous awards and recognition
for his valuable contributions to the Philippines and abroad. In
September 2004, he was conferred the Order of Sikatuna, Rank of Datu,
by H.E. President Gloria Macapagal-Arroyo for his outstanding efforts
in promoting foreign relations for the Philippines and the Order of
Lakandula with a Rank of Grand Cross (Bayani) for acting as Co-Chair
of the 2015 APEC in December 2015. He was a recipient of the EDSA
II Presidential Heroes Award in recognition of his work in fostering
Philippine democracy in 2001 and the Philippine Army Award from H.E.
President Corazon Aquino for his accomplishments as Chairman of
the Makati Foundation for Education in 1991. He was awarded as 2013
72
PLDT 2021 ANNUAL REPORT
ALBERT F. DEL ROSARIO
BERNADINE T. SIY
NAOKI WAKAI
MARIFE B. ZAMORA
Professional Chair for Public Service and Governance by Ateneo School
of Government and the Metrobank Foundation, 2014 Management
Man of the Year by Management Association of the Philippines, 2016
Outstanding Government National Official by Volunteers Against Crime
and Corruption (VACC), 2016 Asia CEO Award as Life Contributor, and
Manuel L. Quezon Gawad Parangal as Quezon City’s Most Outstanding
Citizens for 2016. He was elevated to the Xavier Hall of Fame in New
York City in 2006. He received the AIM Washington Sycip Distinguished
Management Leadership Award in 2011, Doctor of Laws (Honoris
Causa) for “principled commitment to democracy, integrity and the
rule of law both at home and around the globe” conferred by the
College of Mount Saint Vincent, New York City in September 2015,
Rotary Club Makati West’s First “Albert del Rosario Award” (Tungo sa
Makatarungang Pamumuhay) in August 2016, Outstanding Leadership
in Diplomatic Service by Miriam College Department of International
Studies and Philippine Tatler’s Diamond Award both in November
2016. On September 25, 2018, he was conferred the Honorary Degree of
Doctor for Humanities by the Ateneo de Manila University for staunchly
defending the sovereignty and territorial integrity of the country, raising
the standards of economic diplomacy and proactively ensuring the
safety and security of overseas Filipinos everywhere. He is moreover the
holder of a Black Belt Degree in Korean Hwa Rand Do. Ambassador del
Rosario graduated from New York University with a Bachelor of Science
Degree in Economics..
Bernadine T. Siy | 63 , Filipino
She is the chairperson of Epicurean Partners Exchange Inc. (EPEI),
and a director of Fil-Pacific Apparel Corporation (FPAC), both leading
players in the food service and apparel businesses. She previously
served as President and Chief Executive Officer of EPEI Inc. from
1994 to 2011, and President and Chief Executive Officer of FPAC from
1987 to 1995 and again, from 2004 to 2013. She has been a trustee of
Ateneo de Manila University since 2014, and currently its chairperson.
She is an independent director of Cebu Air, Inc. having been elected
in February 2021 and was also elected as an independent director of
Anvaya Cove Golf and Country Club, Inc. in September 2021. She is a
trustee of the Foundation for Economic Freedom, an economic policy
advocacy organization and a member of the Management Association
of the Philippines. She was a Consultant to the Board of Directors of
the Development Bank of the Philippines from November 2012 to June
2014. Ms. Siy obtained her Bachelor of Arts Degree in Economics, Magna
Cum Laude from Ateneo de Manila University and Master’s Degree in
Management from J.L. Kellogg Graduate School of Management of
Northwestern University in Chicago, Illinois, USA.
Naoki Wakai | 56 , Japanese
He has been a director of PLDT since August 26, 2021. He is the Senior
Vice President in charge of Global Business in Business Solution
Division of NTT Communications Corporation (NTT Com). He joined
Nippon Telegraph and Telephone Company (NTT) in 1989 and has been
engaged in global telecoms and IT business for the past 25 years. Mr.
Wakai was involved in the establishment of subsidiaries and branch
offices in China, Taiwan and Korea, and played a major role in the
construction of international submarine cable systems. After serving
as Senior Manager of IP Transit Business at NTT Com Asia (Hong
Kong) and Director of International Business at Verio (USA), he moved
to NTT Com in Japan and became Head of Server Hosting Team in
2006, Head of Carrier Relations in 2008 and Vice President of Global
IP Network in 2009. Mr. Wakai moved to London as Deputy Managing
Director and COO of NTT Europe Limited in 2012. In 2017, he moved to
Singapore to serve as President and CEO of NTT Singapore Pte. Limited.
He graduated with a Bachelor’s Degree in Political Science from Keio
University in Tokyo, Japan, and holds a Master’s Degree in International
Relations from International University in Niigata, Japan.
Marife B. Zamora | 69, Filipino
She has been a director of PLDT since November 14, 2016. She is the
Chairman of the Board of Willis Towers Watson Insurance Brokers,
Inc., and a member of the Board of Trustees of the Asian Institute of
Management and ABS-CBN Foundation Inc. She is the President of the
UP Sigma Delta Phi Alumnae Association and co-founded the Filipina
CEO Circle. She was Chairman of Convergys Philippines until December
2018, Managing Director for Asia Pacific, Europe, Middle East, Africa
for Convergys Corporation, and served as the first Country Manager of
Convergys Philippines, setting up its first contact center in 2003 and
leading its growth as the country’s largest private employer. Prior to this,
Ms. Zamora served as Managing Director of Headstrong Phils. She was
also with IBM Philippines where she held a number of sales, marketing
and management positions during her 18-year tenure with the
company. She is the 3rd woman President and the 68th President of
the Management Association of the Philippines. Honors conferred on
Ms. Zamora include the Asia CEO Awards 2011 Global Filipino Executive
of the Year, the ‘Go Negosyo’ Woman STARpreneuer Award 2012, and
the 100 Most Influential Filipino Women in the World 2013 and Mariang
Maya Awardee of UP Sigma Delta Phi Alumnae Association. Ms. Zamora
received her Bachelor of Arts Degree (major in Mathematics & History)
from the College of the Holy Spirit and studied in the University of the
Philippines and the Wharton School of the University of Pennsylvania.
ADVISORY BOARD COMMITTEE
OSCAR S. REYES
BENNY S. SANTOSO
ORLANDO B. VEA
CHRISTOPHER H. YOUNG
73
HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
MANUEL V. PANGILINAN
ALFREDO S. PANLILIO
ALEJANDRO O. CAEG
ANABELLE L. CHUA
EXECUTIVE OFFICERS
Alejandro O. Caeg | 62, Filipino
He is the Head of PLDT and Smart Consumer Sales
Group and a member of the Company’s Management
Committee. Currently, he is a director of PLDT Global
Corporation and was its CEO from 2010 to 2017, a
director of MVP Rewards & Loyalty Solutions from 2019,
and a director of Inspiro Philippines from 2018. He
previously served as Head of Wireless Consumer Sales
and Distribution of Smart from 2016 to 2017, Head of
International & Carrier Business from 2009 until 2016, and
PLDT’s representative to the ITW Global Leaders Forum
as well as to the Pacific Telecommunications Council. He
was Smart’s representative to the Conexus Mobile Alliance
(one of Asia’s largest cellular roaming alliances), where he
was also designated as its Deputy Chairman until 2012 and
eventually as Conexus Chairman until 2014. Prior to joining
PLDT in 2009, he was appointed by PT Smart Telecom Tbk
(Indonesia) as its Chief Commercial Strategy Officer from
July to December 2008 and as Chief Commercial Officer
from 2006 to 2008. Since joining Smart in 1993, he has
held various sales, marketing and customer experience-
related positions including that of Group Head of Sales
and Distribution (2003-2005), Group Head of Customer
Care and National Wireless Centers (1998-2001) and
Marketing Head of International Gateway Facilities and
Local Exchange Carrier (1997-1998). He also served as CEO
of Telecommunications Distributors Specialist, Inc. (TSI)
in 2002 and as Chief Operations Adviser of I-Contacts
Corporation (Smart’s Call Center subsidiary) from 2001 to
2002. Mr. Caeg graduated with a Bachelor’s degree in AB
Applied Economics and obtained MBA credits from De La
Salle University.
Anabelle L. Chua | 61, Filipino
She is the Chief Financial Officer and Chief Risk
Management Officer of the PLDT Group, is also
concurrently the Chief Financial Officer of Smart. She
holds directorships in several subsidiaries of PLDT,
Smart, Digitel, as well as in Voyager Innovations, PayMaya
Philippines and Maya Bank. She is a member of the
Board of Directors and Audit Committee of the Philippine
Stock Exchange and Securities Clearing Corporation
of the Philippines. She is also a member of the Board
of Directors of Meralco, where she chairs the Finance
Committee and is a member of the Audit, Risk and
Nomination and Governance Committees. Further, Ms.
Chua is a director of the Philippine Telecommunications
Investment Corporation and a member of the Board
of Trustees of the PLDT-Smart Foundation and PLDT
Beneficial Trust Fund (“PLDT-BTF”), and a director of the
companies owned by PLDT-BTF. Ms. Chua has over 30
years of experience in the areas of corporate finance,
treasury, financial control and credit risk management
and was a Vice President at Citibank, N.A. where she
worked for 10 years prior to joining PLDT in 1998. She
graduated magna cum laude from the University of the
Philippines with a Bachelor of Science Degree in Business
Administration and Accountancy.
Mary Rose L. Dela Paz | 50, Filipino
She is currently the Chief Procurement Officer, was PLDT-
Smart Program Director for the Business Transformation
Office (Technology, Transformation Program
Management) from August 2016 until June 2019. She also
served as Smart’s Vice President for Supply Chain from
April 2009 to May 2014, and for Program Management
in Technology Services and New Business Streams from
2000 to 2009. She held various positions in the field of
marketing in Smart when she joined the company in
1998. Ms. Dela Paz obtained her Bachelor of Arts Degree
in Economics with honors from the University of the
Philippines.
Joseph Ian G. Gendrano | 45, Filipino
He is currently the Enterprise and International Business
Head, has been in PLDT’s service since May 2013. Prior
to joining PLDT, he worked with Verizon Business, Cisco
Systems and Goldman Sachs in the United States. He
has held technical, sales, consulting and leadership
roles in these organizations as well as gained industry
experience in the global financial services vertical. He
served as Vice President of Goldman Sachs’ Network Voice
and Multimedia Division and Chief Architect for Unified
Communications platforms. Mr. Gendrano obtained
his Bachelor of Science degree in Electronics and
Communications Engineering from De La Salle University
and Master of Science degree in Electrical Engineering,
Major in Telecommunications and Networking from the
University of Pennsylvania.
74
PLDT 2021 ANNUAL REPORT
MARY ROSE L. DELA PAZ
JOSEPH IAN G. GENDRANO
MENARDO G. JIMENEZ, JR.
GINA MARINA P. ORDOÑEZ
Menardo G. Jimenez, Jr. | 59, Filipino
He is Head of Consumer Business – Home, joined PLDT
in December 2001 and served in various capacities as
Corporate Communications and Public Affairs Head,
Retail Business Head, Human Resources Group Head
and Fixed Line Business Transformation Office Head. He
holds directorships in several subsidiaries of PLDT. Prior to
joining PLDT, he had a stint at GMA Network, Inc., where
he served as head of a creative services and network
promotions. Mr. Jimenez received his AB Economics
degree from the University of the Philippines.
Gina Marina P. Ordoñez | 60, Filipino
She is the Chief People Officer for PLDT and Smart
Communications where she drives the effective
implementation of people strategies, employee services,
HR business partnering and centers of excellence. She
ensures a people-centric and quality-driven environment
across the company through optimized organizational
structures, policies, processes and analytics. She
participated in the development and execution of the
PLDT Group Talent Management strategy, ensuring
alignment with present and future business requirements.
She joined the PLDT Group in 2016 under the Business
Transformation Office (BTO) and later assumed the Smart
People Group Head role before moving back to BTO in
2017 to head Process and Quality Management.
Under the MVP Group of Companies, Ms. Ordońez was
appointed Vice President for Service Operations and
Quality Management at Makati Medical Center. She also
served as Head of Customer Experience for Consumer
Banking in Citi where she held various leadership
positions for 16 years and where she was certified Six
Sigma Black Belt professional. Ms. Ordoñez is a registered
Corporate Coach and Quality Management Consultant
who is certified to run coaching clinics. She completed
her professional training from Coach U and is currently a
member of the International Coach Federation. She has
over 20 years of experience in People, Process and Quality
Management leadership roles.
Leo I. Posadas | 55, Filipino
He is Treasurer of the PLDT Group and concurrent
Treasury Head of PLDT and Smart, handles the treasury
management and treasury operations of several
companies under the PLDT Group. He is a director and
Treasurer of PLDT Global Investments Holdings, a director
and Vice President for Treasury of Mabuhay Investments
Corporation, and the Treasurer of the Vega Telecom
group. He is the Chief Financial Officer of PLDT Global
Corporation. He is also the Treasurer of Smart, ePLDT,
Digital Telecommunications, Digitel Mobile, PLDT-Smart
Foundation and several other subsidiaries of PLDT and
Smart. Prior to joining PLDT in September 2000, he served
as Treasury Manager of Total Petroleum Philippines, and
as Manager for Foreign Exchange Management of San
Miguel Corporation. Mr. Posadas received his Bachelor
of Arts degree in Economics and Bachelor of Science
degree in Commerce Major in Management of Financial
Institutions from De La Salle University.
Mario G. Tamayo | 62, Filipino
He is Technology Group Head of PLDT and Smart, reports
directly to the President & CEO of the PLDT Group.
His main responsibility is to develop and implement
strategies, engineering plans and roadmaps for a more
customer-focused and robust mobile and fixed network.
This includes transformation plans and programs for a
more cost-efficient delivery of service. He likewise ensures
the availability and quality of the network in accordance
with set regulatory standards and global benchmarks. He
leads the technology group in reaching out to consumer,
corporate, and international market segments. Mr. Tamayo
has more than 27 solid years of telecoms experience with
the leading fixed and wireless service providers in the
Philippines. He graduated with a Bachelor of Science
Degree in Electronics & Communications Engineering
from the University of Santo Tomas.
75
HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
LEO I. POSADAS
MARIO G. TAMAYO
MELISSA V. VERGEL DE DIOS
MARILYN A. VICTORIO-AQUINO
Melissa V. Vergel De Dios | 59, Filipino
She is Chief Sustainability Officer effective November
4, 2021 and concurrent Corporate Sustainability Office
Head and Investor Relations Head. She has been in
PLDT’s service since May 2001 and served as Property
Management Center Head until May 2003 and as Property
and Facilities Management Center Head until September
2007. Prior to joining PLDT, she was the Chief Operating
Officer of Wharton Credit Corp. and from June 2000 to
May 2001 was the Group Chief Finance Officer of Global
3 Internet Holdings, Inc. She held various positions in
San Miguel Group of Companies from 1984 to 2000. Ms.
Vergel de Dios obtained her Bachelor of Science degree in
Marketing and Management and Bachelor of Arts degree
in Economics from Assumption College.
Atty. Marilyn A. Victorio-Aquino | 66, Filipino
Chief Legal Counsel, Legal and Regulatory Head, and
Corporate Secretary, joined First Pacific Company Limited
(“First Pacific”) in 2012 as Assistant Director. She holds
various positions in Philippine subsidiaries and affiliates
of First Pacific and Metro Pacific Investments Corporation
(an affiliate of First Pacific), including President of First
Coconut Manufacturing Inc., and director of Philex
Mining Corporation, PXP Energy Corporation and
Lepanto Consolidated Mining Company, which are PSE-
listed companies, Philex Gold Philippines, Inc., Silangan
Mindanao Mining Company, Inc. and Maynilad Water
Services, Inc.
Prior to joining First Pacific, Atty. Victorio-Aquino retired
as a Senior Partner at SyCip Salazar Hernandez and
Gatmaitan Law Offices (SyCipLaw). She joined SyCipLaw
in 1980 and was admitted as Partner in 1989. Her practice
areas were mining and natural resources, investments,
mergers and acquisitions, construction and infrastructure,
and project finance and securities, where she acted as
legal counsel and represented local and foreign clients in
respect of some of the largest projects and transactions in
the Philippines.
Atty. Victorio-Aquino graduated cum laude (class
salutatorian) from the University of the Philippines with
a Bachelor of Laws Degree in 1980, placed second in
the Philippine Bar Examinations and was admitted to
the Philippine Bar in 1981. She obtained her Bachelor of
Arts degree from the University of Santo Tomas. She is
a member of the International Pacific Bar Association,
Women Lawyers Circle, Federacion International de
Abogadas, Philippine Bar Association and Integrated Bar
of the Philippines.
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PLDT 2021 ANNUAL REPORT
TOP
MANAGEMENT
TEAM
MANUEL V. PANGILINAN
ALFREDO S. PANLILIO
ANABELLE L. CHUA
MARY ROSE L. DELA PAZ
GINA MARINA P. ORDOÑEZ
MARIO G. TAMAYO
VICTORICO P. VARGAS
MARILYN A. VICTORIA-AQUINO
77
HIGHLIGHTS • MESSAGES • AWARDS • OPERATIONS • GOVERNANCE • EXECUTIVES • FINANCIALS
OFFICERS
Alfredo S. Panlilio
Director, President and Chief Executive Officer
Ma. Criselda B. Guhit
FVP and Tax Management and Advocacy Head
Anabelle L. Chua
SVP, Chief Financial Officer and Chief Risk Management Officer
Victorico P. Vargas
Leadership Transition Officer
Marilyn A. Victorio-Aquino
SVP and Chief Legal Counsel, Head of Legal and Regulatory Affairs
and Corporate Secretary1
Gina Marina P. Ordoñez
SVP and Chief People Officer
Mary Rose L. Dela Paz
SVP and Chief Procurement Officer
Mario G. Tamayo
SVP and Network Head
Alejandro O. Caeg
SVP, Consumer Sales Head
Jeremiah Dela Cruz2
SVP and Head of Consumer Business - Home
Menardo G. Jimenez, Jr.
SVP and Consumer Business – Home Head
Leo I. Posadas
FVP and Treasurer
Melissa V. Vergel De Dios
FVP, Chief Sustainability Officer and Investor Relations Head
Gil Samson D. Garcia
FVP and OIC-Financial Reporting and Controllership
Katrina L. Abelarde
FVP and Strategic Partnerships and Revenue Operations Head
Benedict Patrick V. Alcoseba
FVP and Enterprise Product Management & Marketing Head
Maria Carina J. Amparo
FVP People Group Business Partnering Head
Marco Alejandro T. Borlongan
FVP and Consumer Business HOME Head
Mary Julie C. Carceller
FVP, Chief of Staff to the President and CEO & Strategic Program
Management Head
Bernard H. Castro
FVP and Consumer Business Fulfillment Management Head
Joseph Michael Vincent G. Co
FVP and People Services & Enablement Head
Joan A. De Venecia-Fabul
FVP, Deputy Chief Legal Counsel (Legal Practice) and Corporate
Counsel Head
Leah Camilla B. Jimenez
FVP, Chief Data Privacy Officer and Data Privacy and Information
Security Governance Head
Princesita P. Katigbak
FVP and National Key Accounts Group Head
Gary Manuel Y. Kho
FVP and Head of Digital Innovation
Albert Mitchell L. Locsin
FVP and Enterprise Revenue Group 2 Head
Dale M. Ramos
FVP and Network Build and Fulfillment Head
Angel T. Redoble
FVP and Chief Information Security Officer and Cyber Security
Operations Head
Aileen D. Regio
FVP and Regulatory and Strategic Affairs Head
Luis S. Reñon
FVP and Internal Audit Group Head
Jeanine R. Rubin
FVP and Head of Customer Experience
Bernadette C. Salinas
FVP and BTO Process Innovation Head
Roderick S. Santiago
FVP and Deputy Network Head3
Patrick S. Tang
FVP and HOME Customer Management Head
Victor Y. Tria
FVP and Enterprise Revenue Group 1 Head
Jude Michael H. Turcuato
FVP and Sports Head
John Henri C. Yanez
FVP and Product Management and Marketing Head
Catherine L. Yap-Yang
FVP and Group Corporate Communications Officer
Ma. Magdalene A. Tan
VP and Officer-in-Charge of Corporate Governance4
Abner Tito L. Alberto
VP, Corporate Services and Liability Insurance Management Head
and Assistant Corporate Secretary
Maria Cecilia H. Abad
VP and Customer Care Operations Head
Minerva M. Agas
VP and Logistics Head
Joseph Ian G. Gendrano
FVP and Enterprise and International Business Head
Cecille M. Alzona
VP and Financial Planning Head
Victor Emmanuel S. Genuino II
FVP and Digital Office Head
Elizabeth S. Andojar
VP and Enterprise Business Credit & Collection Management Head
John John R. Gonzales
FVP and Enterprise Digital Solutions Head
Roy Victor E. Añonuevo
VP and Customer Care Operations Support Head
1 Appointed Corporate Secretary, concurrent to her positions as Chief Legal Counsel and Head of Legal and Regulatory Affairs, effective January 25, 2022
2 Appointment as Senior Vice President effective April 1, 2022, was confirmed by the board of Directors in it’s meeting held on April 19, 2022.
3 Effectivity date January 16, 2022
4 Appointed Officer-In-Charge of Corporate Governance, concurrent to her position as Corporate Governance Enforcement Head, Effective January 25, 2022.
78
PLDT 2021 ANNUAL REPORT
Tito Rodolfo B. Aquino, Jr.
VP and Commercial Contracts Management & Governance Head
Mitchie M. Arcaina
VP and Organization Development Head
Jerameel A. Azurin
VP and Product Management Head of the Disruptive Business
Group of PLDT Enterprise
Francis A. Bautista
VP and Financial Systems & Controls Head
Rafael M. Bejar
VP and Medical Services Head
Czar Christopher S. Lopez
VP and Customer Fixed Access, Quality and Outside Plant Project
Management Head
Paolo Jose C. Lopez
VP and Home Store and Emerging Channels Head
Maria Carmela F. Luque
VP and Financial Audit Head
Mark David P.Martinez
VP and Revenue Contracts Head
Loreevi Gail O. Mercado
VP and Talent Management Head
Dianne M. Blanco
VP and Consumer Credit and Accounts Management Head
Evert Chris R. Miranda
VP and Head of Product Management (Digital Services)
Wilson S. Bobier
VP and Program Resource and Integration Management Head
Oliver Carlos G. Odulio
VP and Enterprise Business Continuity & Resilience Head
Luis Gregorio D. Casas
VP and CRM BPO Industry Head
Audrey Lyn S. Oliva
VP and Head of Strategic Analytics
Benjamin Jose C. Causon, Jr.
VP, GMM East Area Operations Management Head
Jonston Prince W. Ong5
VP and BTO Executive
Melvin Jeffrey C. Chan
VP and IOT Business Development & Enterprise Innovations Head
Carlo S. Ople6
VP and Head of Marketing Communications for PLDT Home
Ma. Monica M. Consing
VP and People Group Quality Management Head
Charles Louis L. Orcena
VP and Analytics Head
Serviliano L. Padiz, Jr.
VP and Synergy and Special Valuation Head
Raymond A. Racho
VP and Revenue Assurance Head
Anna Karina V. Rodriguez
VP and Head of Portfolio Value Managament
Marielle M. Rubio
VP and Head of Program Management
Genaro C. Sanchez
VP and Global Capacity Strategy Head
Maria Christina C. Semira
VP and Revenue Management and Cash Assurance Head
Ma. Merceditas T. Siapuatco
VP and Treasury Operations and Support Head
Arvin L. Siena
VP and Technology Strategy and Transformation Office Head
Carla Elena A. Tabuena
VP and Enterprise Business Service Operations Management Head
Jecyn Aimee C. Teng
VP and CRM Banking and Financial Services Head
Milan M. Topacio
VP and Core and Technical Assistance Head
Ma. Delia V. Villarino
VP and Enterprise Revenue Group 3 Head
Radames Vittorio B. Zalameda
VP and Network Optimization and Assurance Head
Branden B. Dean
VP and IT Operations Support Systems & Automation Management
Head
Ramil C. Enriquez
VP and HOME Business & Consumer Analytics Head
Aniceto M. Franco III
VP and Small and Micro Business Head
Gene S. De Guzman
VP and Enterprise Service Assurance Management-1 Head
Rai Antonio A. De Jesus
VP and IT Category Head
Leonard A. Gonzales
VP and Property, Facilities and Security Management 1 Head
Silverio S. Ibay, Jr.
VP and Spend Management Accounting Head
Gary F. Ignacio
VP and Startegic Business Development Head
Marven S. Jardiel
VP and Enterprise Customer Operations Management Head
Alexander S. Kibanoff
VP and Learning and Development Head
Javier C. Lagdameo
VP and CRM Conglomerate 1 Head
Ser John S. Layug
VP and Luzon Project Management Head
Joseph Henry S. Lebumfacil
VP and Enterprise Resource Planning Head
Armando Dodjie T. Lim
VP and Consumer Service Area - GMM North Head
5 Separated effective March 31, 2022
6 Separated effective April 1, 2022
79