What does PLDT mean in Development?

PLDT

PLDT, Inc., formerly known as the Philippine Long Distance Telephone Company (Filipino: Kompanya ng Teleponong Pangmalayuan ng Pilipinas), is a telecommunications, internet, and digital service holdings company in the Philippines. It is one of the country's major telecommunications providers, along with Globe Telecom. Founded in 1928, it is the oldest and largest telecom company in the Philippines, in terms of assets and revenues.Its core businesses are fixed-line telecommunications, mobile telephony services, broadband, and internet of things services under various brands. It also has investments in broadcasting, print media, utilities, and direct-to-home satellite services, among others. As of 2019, PLDT is listed in the Philippine Stock Exchange and New York Stock Exchange (the only Philippine company to be listed in NYSE) and it is being controlled by First Pacific, a Hong Kong-based investment management company; Nippon Telegraph and Telephone, through its subsidiaries; and JG Summit, a major conglomerate that operates airliner Cebu Pacific, food manufacturer Universal Robina and real estate firm Robinsons Land. It received numerous complain from congress and senate regarding on slow internet.

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