Telecom Asia, one of Asia’s largest regional telecommunications publishing groups, gave the Philippine Long Distance Telephone Co. (PLDT) the Best Emerging Market Carrier Award for the third straight year. The recent 2006 Telecom Asia Awards in Phuket, Thailand, honored 10 carriers. PLDT won in the emerging market category based on its financial performance, market leadership, innovation and corporate governance. "It is a great honor for us to win this award for the third straight time, especially since we are competing with the biggest and most admired telcos in the region," PLDT President and CEO Napoleon L. Nazareno noted. "This distinction was conferred on PLDT now that it is transforming itself into a next-generation carrier. This also shows the ability of Philippine companies to excel despite the challenges in the business environment," he elaborated. PLDT was credited for the dramatic turnaround of its business over the past 3 years and the significant growth in its profits and free cash flow. PLDT’s comprehensive financial disclosures and transparency was also a big factor in its win.