Triple T Broadband, the Bangkok broadband internet arm of TT&T Plc, has set an ambitious goal to overtake market leader True Corporation by 2010, targeting a subscriber base of 1 million.
The company has earmarked a 1-billion-baht (US$28 million) investment plan, almost half of its 2009 budget, to expand its broadband network into the high-usage provinces of Chon Buri (including Si Racha and Pattaya) Phuket and Chiang Mai.
Part of the budget will also be used to construct its broadband network in Bangkok for 300,000 numbers.
Pete Bodharamik, the chief executive of Jasmine International Plc, the parent of TT&T, said Triple T Broadband planned to aggressively move forward by strengthening its focus on core broadband business, building brand awareness, increasing network capacity and improving product and service quality.
Defying fears of an economic slowdown, Mr Pete said 2009 would be a "year of great opportunity" for Triple T Broadband. For one thing, more people are expected to communicate online to save travel costs.
In addition, he said: "Given lower competitiveness and the heavy debt burden of True Corp, we are well positioned to take advantage of the rival's financial weakness to aggressively expand our network capacity and service quality.
"Also, with our nationwide broadband network, compared with True providing service only in Bangkok, we have high potential to capture the No. 1 position."
Triple T Broadband expects to have a total of 400,000 customers by the end of this year. Ninety percent are in provincial markets. The number of subscribers is projected to reach 670,000 next year, generating half of TT&T's total revenue. Up to 25 percent of the total base would come from Bangkok.
TT&T, meanwhile, expects to see 7 billion baht (US$196 million) in revenue in 2009 with a net profit of 800 million baht (US$22.4 million).
"Our broadband customer base is expected to top 1 million by 2010, contributing more than 70 percent of total earnings," Mr Pete said.
Average revenue per broadband user is 700 baht (US$19.70) a month compared to 200 baht (US$5.63) for TT&T's average fixed-line user.
TT&T shares closed on Friday on the Stock Exchange of Thailand at 0.31 baht(US$0.008), up one satang, in trade worth 2.46 million baht (US$69,000).
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