PhilWeb.com ties up with PhilPost on Internet pre-paid cards

PhilWeb.com, one of the pioneering Internet companies listed at the Philippine Stock Exchange (PSE), has tied up with the government-controlled Philippine Postal Corp. (PhilPost) for the sale and marketing of a common brand of Internet pre-paid cards.

PhilWeb corporate information officer Roberto Valdes said both parties signed a memorandum of agreement (MOA) last Monday establishing a strategic alliance whereby PhilPost shall "sell, market and distribute PhilPost-PhilWeb co-branded prepaid Internet cards tapping its nationwide network of postal offices and branches."

"The parties further agreed to consider the establishment of virtual post offices and the introduction of hybrid mail services," Valdes said.

PhilWeb, chaired by former Trade and Industry Minister Roberto Ongpin, started full commercial operations only a year ago, starting with the establishment of a nationwide network of Internet switching centers.

The company now has in place over 45 Internet switching centers and a marketing network of more than 2,000 dealers and distributors nationwide, making it well-positioned to take advantage of the continued growth of the Internet business in the Philippines.

It is the first local infotech company that was granted the incentive package by the Board of Investments for its pioneering project. This means the company can avail itself of tax and non-tax exemptions and discounts for a period of up to eight years, hence limiting their operating expenses.

At present, PhilWeb is the largest Internet firm listed at the PSE in terms of market capitalization at about P1.2 billion, after the bourse approved the issuance of the company’s bonus warrants during the first quarter last year.– Conrado Diaz Jr.