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Manila Bulletin devider Business devider The Stock Market devider Beyond GCash: Globe pinpoints its next big multi-billion-peso growth engine

Beyond GCash: Globe pinpoints its next big multi-billion-peso growth engine

Published Aug 10, 2026 07:35 pm
With contributions from e-wallet giant GCash serving as a steady earnings driver, Globe Telecom Inc. is eyeing another strategic asset to power its long-term growth trajectory: data centers.
Asked if the company sees another asset following the initial public offering (IPO) route, Globe Chief Finance Officer Juan Carlo Puno identified ST Telemedia Global Data Centres (STT GDC) Philippines as a key unit with strong potential to scale.
Globe views STT GDC Philippines as its next major success story, buoyed by surging demand for data infrastructure as enterprise adoption of artificial intelligence (AI) accelerates.
In fact, Globe President and CEO Carl Cruz said STT GDC Philippines is having a “hard time” keeping up with the influx of orders for data center services.
“The team is working doubly hard to make sure the demand continues to be there. At the same time, we continue to ingest that particular demand for data centers,” Cruz said during a virtual briefing on Monday, Aug. 10.
As a case in point, STT GDC Philippines fully allocated the capacity of its Level 1 data halls at its Fairview facility during the first half of the year, with commissioning of Level 2 currently underway.
Driven by sustained enterprise demand, the company has begun designing Levels 3 and 4. Upon completion, STT Fairview will become the largest facility in the country, boasting a total IT capacity of 124 megawatts (MW).
Beyond corporate clients, STT GDC Philippines expects a boost from the government following the issuance of Executive Order (EO) No. 119, which established local data residency rules.
Despite the rapid expansion, STT GDC Philippines President and CEO Carlo Malana said that growth must remain sustainable given the massive power requirements of data infrastructure.
Earlier this year, the firm signed an agreement with MPower, Manila Electric Co.’s (Meralco) retail electricity unit, to secure 40.5 MW of clean energy for its Fairview and Cavite facilities.
“As we start to scale, we’re looking forward to also serving the increasing digital demands of the Philippines, and we’re looking to do so in a very sustainable and responsible manner,” Malana said.
STT GDC Philippines is a joint venture among Globe Telecom Inc., Ayala Corp., and Singapore-based STT GDC.
Puno also cited digital service providers NCS Philippines and Brave Connective Holdings Inc. as other Globe assets with potential for future public listings.
While those listings remain prospective, GCash parent firm Mynt is actively preparing for an estimated ₱92.3-billion IPO, which could mark the country’s largest to date.
Ahead of its targeted October listing, Mynt remains a primary bright spot for Globe, contributing ₱3.7 billion—or 28 percent—to the telco’s net income in the first half.
Cultivating new growth engines is vital for Globe as net profit for the first six months fell 11 percent to ₱11.04 billion from ₱12.44 billion a year earlier. The decline was largely driven by higher non-operating charges and elevated administrative and service costs.
Despite the earnings contraction, Puno said the company remains optimistic about its second-half outlook, anchored on record first-half revenues of ₱85.37 billion.
“We do believe we should be able to leverage all of the momentum that we delivered in the first half to be able to turn that into upside to the second half of 2026, which should help buoy the bottom line performance from a full-year perspective,” he said.

Related Tags

Globe Telecom Inc. ST Telemedia Global Data Centres (ST GDC) data centers
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