Singtel’s New Data Centers in Singapore and Thailand Expected to Enhance Revenue, Reports Group CEO
Singtel is set to enhance its revenue with the launch of two new data centers in Singapore and Thailand, scheduled to go live later this year and early next year, as stated by Group CEO Yuen Kuan Moon in an interview with CNBC’s “Squawk Box Asia“.
“At the moment, we are primarily optimizing existing resources. Our current data centers are operating at full capacity, which means immediate revenue growth will not be evident. However, once the new facilities are operational, revenue growth will follow,” Yuen explained.
Referring to the perception of stagnant revenues, Yuen noted a “2% growth in revenues at the group level” on a net basis. This growth was driven by the performance of its subsidiary, Australian telecommunications company Optus, alongside the 2023 sale of its stake in cybersecurity firm Trustwave.
Yuen also discussed Singtel’s divestment of its 1.2% stake in Indian telecommunications provider Bharti Airtel. He mentioned that the company aims to align its stake with that of its Indian partner and Airtel founder, Sunil Mittal, in the medium term. “Our goal is to collaboratively grow Airtel in India,” he added.
– Reported by Penny Chen, Neha Hegde
