Singtel

Categories

Technology  
Media and Communications  

#598

Rank

$30.9B

MarketCap SG

SG Singapore

Country

Summary

Singapore Telecommunications Limited, together with its subsidiaries, provides telecommunication services to consumers and small businesses in Singapore, Australia, the United States, Europe, and internationally. The company engages in the carriage business, including mobile, pay television, fixed broadband, voice, and content and digital services, as well as equipment sales; digital media and advertising services; integrated information and communications technology solutions, such as cloud computing, multi-access edge computing, software-defined network, and digital solutions; fund management services to enterprise customers. 

It also offers mobile phones, accessories, watches, watch straps, cables, adapters, multimedia hubs, cameras, gimbals, cases, chargers, drones, earphones, headphones, microphones, keyboards, laptops, screen protectors, speakers, tablets, trackers, and wearables, as well as mouse, connectivity, gaming, smart home, power solution, and storage solution products; postpaid and prepaid plans; and postpaid add-on, roaming, 5G, and AR/VR entertainment services. 

In addition, the company provides broadband plans and add-ons, WiFi mesh, Wi-Fi 6, Microsoft 365 subscription, TV packages and guides, TV Go, video on demand, instalment plans, wellness, newsstand, music, and telephony services; car, home content, domestic helper, and travel insurance; DVR set-top boxes; lifestyle products; and Singtel Surf School that offers cyber fun, safety, and education services, as well as tech workshops. Further, it offers cloud, data centre, and software-as-a-service; Internet of Things; cyber security, IT, professional consulting, and managed services; voice unified communications, cloud conferencing, international calling, and SIP trunking services; managed network and managed unified communications services; satellite services; and Singtel Liquid-X, a suite of cloud-centric services. The company was incorporated in 1992 and is headquartered in Singapore.


History

Founded in 1879, by 1883, Singapore's phone network was operated by the Oriental Telephone and Electric Company. The Public Telephone Exchange set up 60 telephone lines connecting local businesses of that era. In 1955, the Singapore Telephone Board is incorporated as a statutory board with exclusive rights to operate telephone service within Singapore. 

Before 1974, STB was responsible for local services, while TAS provided international services. In 1992, SingTel is incorporated in March and became a public company in October 1993. In 1997 Singtel was compensated $1.5 billion by the Singaporean Government for the early termination of its monopoly, based on projected earnings lost between 2000 and 2007 due to its loss of monopoly.

In 2000, Singtel lost its domestic monopoly in Singapore, with the government deregulating the telecommunications industry. In 2003 SingTel sells 60% of Singapore Post in May during an IPO in an effort to focus on its core telecommunications services business. SingTel divested its stakes in Yellow Pages in June, its directory business to CVC Asia Pacific and J.P. Morgan Partners Asia for S$220 million. As well, SingTel announced that it has appointed Ericsson as the vendor for its 3G network in Singapore in July 2003.

In 2007, mio TV was launched commercially on 20 July and began its services the next day. The next year, SingTel and Apple jointly announced that SingTel will be the first mobile operator to launch the iPhone 3G and its services to Singapore in June. As well, SingTel becomes the title sponsor of the inaugural Singapore Grand Prix in Singapore.

In May 2011, SingTel announced that it will be aiming to double the size of its satellite business, with two additional launches by 2013. In November, SingTel launched Singapore's first e-book provider, Skoob, which was available through the web, iOS or Android.

SingTel secured broadcast rights for the 2012 Summer Olympics and provided 15 new ESPN STAR Sports channels free of charge to its mio TV Services. Also that year, Singtel was fined $300,000 for breaches of the Service Resiliency Code by the IDA. In 2013 SingTel announced the sale of its entire 30% stake in Warid Telecom Limited to Warid Telecom Pakistan LLC which took place on 15 March that year. As well, SingTel was fined $180,000 for the disruption of its mio TV service where 115,000 subscribers were affected while watching the Premier League games. The problems included screen freezing, blurred images and picture distortion that happened on 13 May 2012 from 10:15 pm. Full-service quality was resumed at 12:15 am the next day.

In 2014 SingTel was fined $6 million for its Bukit Panjang fire in the previous year. This is the highest fine imposed on a telco in Singapore. In August, SingTel announced it was joining forces with five other global companies, including Google, to build a super-fast undersea data cable linking the U.S. and Japan. On 21 January 2015, Singtel launched its new brand identity, the first in 16 years.

On 19 March 2015, Singtel dismissed all connections with the social media agency, Gushcloud. This is after a Singapore blogger Xiaxue, exposed Gushcloud's brief to its "influencers" to execute a negative campaign on M1 and Starhub, both of who are direct competitors. Singtel apologised to both companies for the campaign. On 7 April, Singtel revealed it would be acquiring US cyber security firm Trustwave for $810 million, its largest ever acquisition outside the telecoms sector. A few days later, Singtel announced plans to delist from the Australian Securities Exchange due to low trading volumes.

In April 2015, Singtel released a new Skype and WhatsApp competitor called Wavee. It allows users to make voice and video calls and send instant messages. In May, Singtel was issued a 'stern warning' by Infocomm Development Authority for a negative marketing campaign against its competitors: M1 Limited and Starhub through a marketing agency, Gushcloud. Singtel was required to "ensure appropriate management oversight and control over its marketing and advertising campaigns".

On April 2017, it was reported that Synack had raised $21 million from Microsoft Ventures, Hewlett Packard Enterprise, and Singtel. On January 2019, Singtel was listed in the Bloomberg Gender-Equality Index for the first time in recognition of gender equality. On March 2020, Singtel announced a USD 30 million investment in a new joint venture by Singtel, Thai Telco AIS and South Korea's SK Telecom in a gaming company called Storms. In October, Singtel announced the appointment of Yuen Kuan Moon as Group CEO to replace current chief Chua Sock Koong after her retirement in January 2021.

On 4 December 2020, it was announced that the Singtel and ride-hailing firm Grab consortium had been awarded a digital banking licence and would start operating in 2022. On 10 June of that year, three employees of Amobee's email marketing division were convicted of federal crimes related to illegally spamming through hijacked IP addresses.


Mission

"We help people and enterprises stay connected all the time, no matter
where they are, by making communications easier, faster and more reliable."


Vision

“Creating and delivering value to our customers, employees and shareholders is fundamental to our business. We help people and enterprises stay connected all the time, no matter where they are, by making communications easier, faster and more reliable.”


Key Team

Mr. Siew Wing Woo (Group Chief Information Officer & Group Chief Digital Officer)

Ms. Yang Fong Sin (VP of Investor Relations)

Ms. Lian Pek (VP of Group Corp. Communications & Brand)

Mr. Chris Smith (Head of Digital Sales & Service - Optus)

Ms. Aileen Tan (Group Chief People & Sustainability Officer)

Mr. Yoong Keong Lew (CEO of Group Strategy & Bus. Devel. and Country Chief Officer of Thailand)

Mr. York Chye Chang (CEO of Group Enterprise & CEO of Regional Data Centre Bus.)


Recognition and Awards
Mob-Ex Awards 2022: Best Launch/Relaunch - Dash PET (Gold) Best Mobile Campaign for a Specific Audience - Dash PET (Gold) Industry Specific Use of Mobile: Banking & Finance - Dash PET (Gold) Best Use of In-App Advertising - Dash Town (Bronze)

References
Singtel
Leadership team

Mr. Tao Yih Lang (Group Chief Financial Officer)

Mr. Mark Chong (Group Chief Technology Officer)

Industries

Technology

Media and Communications

Products/ Services
Communications Infrastructure, Enterprise Applications, Internet, Mobile, Telecommunications
Number of Employees
20,000 - 50,000
Headquarters
Singapore, Central Region, Singapore
Established
1879
Company Type
Public Limited Company
Company Registration
SEC CIK number: 0000915371
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
Z74.SI
Social Media

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Fri Mar 01 2024
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