Globe Telecom Inc. has finalized its business arrangement with Singapore-based company, NCS Pte. Ltd., through their joint venture with Yondu Inc., valued at PHP 1.73 billion. This venture was first established on March 26, 2025, and was made public in a disclosure to the Philippine Stock Exchange by Globe.
NCS, through its subsidiary NCSI Holdings Pte. Ltd, now holds a 51% majority stake in Yondu, leaving Globe with the remaining 49% shares. Concurrently, NCSI Philippines Inc. was acquired by Yondu from NCSI, making it a wholly-owned subsidiary. Yondu will be rebranded as NCS Philippines.
Globe’s third-quarter financial report indicates the joint venture’s value sits at about PHP 1.73 billion, encompassing PHP 349.06 million in cash and cash equivalents. This figure is a 7.5% decrease from the initial estimate of PHP 1.87 billion in March 2023.
Post the completion of the joint venture, Globe’s President and CEO, Carl Raymond Cruz, expressed confidence in Yondu’s enhanced capability to offer superior solutions to customers. Cruz highlighted that the partnership will facilitate service expansion and help reach more customers across the Asia Pacific, leveraging NCS’s regional presence and partner networks.
Yondu, functioning as Globe’s information and communications technology division, specializes in wireless products and digital services for clients. It concentrates on custom software development, managed security, e-commerce solutions, cloud services, and pre-built platforms. Joint venture partner NCS, owned by Singtel, views this venture as a crucial step in its regional expansion strategy.
NCS’s CEO, Ng Kuo Pin, anticipates that the expanded team will enhance the company’s digital, cloud, and data services, including those employing artificial intelligence. The team’s size is expected to increase from roughly 150 employees last year to over 1,200.
In addition to regional expansion, Juan Carlo Puno, Globe’s Chief Finance Officer, stated that the joint venture will ensure more efficient capital use and provide consistent revenue growth support. He emphasized that the venture’s key objective is to create a platform with financial resilience that can deliver long-term shareholder value while ensuring investment capability for next-generation ICT solutions.
From January to September 2025, Yondu’s non-telecom revenues were reported at PHP 1.7 billion by Globe, showing a 4% decrease from PHP 1.81 billion during the same months of 2024. During this same period, Globe’s total gross service revenues stood at PHP 121.7 billion, with net income falling to PHP 17.7 billion.
What is the objective of the joint venture between Globe Telecom and NCS?
The joint venture aims to enhance Yondu’s ability to offer superior solutions to its customers and to expand services across the Asia Pacific region.
How will the joint venture impact Yondu?
Yondu will now become a wholly-owned subsidiary called NCS Philippines, and its workforce is expected to grow from about 150 employees to over 1,200.
What financial impact is expected from this partnership?
The partnership is anticipated to facilitate more efficient capital utilization, support consistent revenue growth, and offer long-term value to shareholders.
