Publicly listed Now Corp. has projected its revenues to grow by 46 percent compared to its earnings in the previous year as it anticipates a positive net income this year.
The Telecommunications, Media and Technology (TMT) company has been seeing steady growth in its earnings, posting a 59 percent increase in revenues last year. During Thursday’s stockholders’ meeting, shareholders approved the entry of the company into new businesses, including offering an all text cellular mobile telephone service, through subsidiary Now Telecoms.
The corporation lists as major shareholders Chinese firm Top Mega Enterprises Limited, Filipino investment firm Gamboa Holdings, Inc., and British firm Joyce Link Holdings, Limited, among others, according to its December 31, 2013 Annual Report.
Through its software collaboration business, Now Corp. (formerly Information Capital Technology Ventures, Inc.) also plans to offer cloud services (IBM Smart Cloud: email and calendar, collaboration and instant messaging, web meetings, document editor, mobile) and cloud/on premise services (launching of human resource management system on cloud at P15,000 per month with three modules—employee profile, timekeeping and payroll).
Also during its annual shareholders’ meeting, Dr. Thomas Aquino was re-elected as chairman of the board and president, while Mel Velarde was re-elected as chief executive officer.
Aquino is a former Senior Undersecretary of the Department of Trade and Industry and is currently a Senior Fellow at the Center for Research and Communication of the University of Asia and the Pacific, member of the board of directors of the Philippine National Construction Company and the Zamboanga Development and Management Corp.
Now Corp. has been offering diversified services in the field of telecommunications and media. The company has growing international presence in countries such as Japan, the United States and United Kingdom.
The corporation’s products and services include social customer relationship management, telematics, web integration, digital and mobile applications technologies, and wireless broadband infrastructure, among others.
Over the past years, Now Corp. has invested heavily in development activities including forging strategic alliances, acquiring TMT companies such as Softweb, Softrigger, Holy Cow Animation, and infusing financial resources to provide information and communications technology services and products.
The corporation has been partnering with American technology and consulting firm International Business Machine and the Asian Institute of Journalism and Communication Inc.