Hong Kong-based HGC Global Communications (HGC) reported solid business growth for fiscal year 2024, driven by its expanded fiber broadband services and increasing demand for ICT solutions. As of June 2024, 71% of HGC’s residential broadband customers are using fiber-to-the-home (FTTH) connections of 1,000 Mbps or higher, a 6% increase year-on-year. The Group serves over 400,000 residential users and more than one million customers overall in Hong Kong. HGC’s revenue from its one-stop Managed Services surged by 33% compared to FY2019, while gross profit from ICT solutions saw a 306% rise over the same period.
HGC has also prioritized small and medium-sized enterprises (SMEs), with a 28% year-on-year increase in fiber broadband users, marking three consecutive years of growth in this segment. The company’s Secured Broadband service, launched in April 2023, has intercepted over 2 million cyberattacks, providing robust protection for thousands of SMEs. The Group’s international strategy remains centered on using Hong Kong as a hub while expanding in Southeast Asia, particularly in the Philippines, where it has deployed over 1,500 kilometers (930 miles) of optical fiber and installed more than 6,000 access points. HGC’s Data Center Interconnection (DCI) cluster now connects over 55 data centers, linking mature hubs in Hong Kong and Singapore with emerging markets in the region.
HGC’s expansion into emerging Asian markets, especially in the Philippines, highlights its commitment to strengthening regional connectivity. The company’s strategic investments aim to bolster data center interconnections, improve telecommunications infrastructure, and serve the growing demand from Chinese enterprises seeking global expansion. Additionally, HGC is exploring new investment opportunities in Malaysia to enhance its regional footprint further.
• Residential broadband users: 71% using 1,000 Mbps or higher FTTH
• Growth in Managed Services revenue: 33% compared to FY2019
• Gross profit increase in ICT solutions: 306% since FY2019
• Fiber network expansion in the Philippines: 1,500 kilometers (930 miles) of optical fiber and 6,000 access points
• DCI clusters: Connecting over 55 data centers across Hong Kong, Singapore, the Philippines, Thailand, and Malaysia
Andrew Kwok, CEO of HGC, stated, “HGC remains dedicated to enhancing telecommunications and ICT infrastructure, using Hong Kong as our center while expanding into key markets in Asia. Our focus on digital transformation and cybersecurity aims to empower businesses in an increasingly interconnected world.”