Business World
Vol. XVIII, No. 241-A
Saturday, July 2, 2005 MANILA, PHILIPPINES

Corporate World

WorldVoice sets up remittance system for OFWs

CEBU CITY -- The Telecommunications Office (Telof) has entered into a partnership with WorldVoice to set up an international electronic remittance system targeted to serve overseas Filipino workers.

Telof president Elberto Emphasis said WorldVoice will install the computers and other equipment to cover 1,500 exchanges in the country.

Under a recently signed memorandum of agreement with WorldVoice, Telof is projected to get a share of 2.5% or P10.5 million per month from the deal.

"Hopefully, we can start operating early next month," Mr. Emphasis said.

Telof earlier entered into a joint venture with ETN Singapore Pte. Ltd. to install new technologies to improve telecommunication access in the Visayas and Mindanao. ETN will invest US$30 million in installing Wi-Fi, WIMAX and voice over internet protocol, or VoIP.

Telof was formerly under the Department of Transportation and Communications but is now attached to the Commission on Information and Communications Technology by virtue of Executive Order No. 29 issued in January 2004. -- Jun P. Tagalog