Yahoo Finance Singtel consolidates Singapore consumer and enterprise businesses, forms standalone infrastructure unit
New appointments and redesignations have been made in line with the restructuring. They will take effect from June 1.
Singapore Telecommunications (Singtel) Z04, on April 27, announced that it will be consolidating its Singapore consumer and enterprise businesses into a single operating company.
The move to reorganise its structure is designed to drive “growth, synergies and productivity” at the country level, says Singtel in its statement.
The telco is also looking to form a standalone infrastructure unit. Named Digital InfraCo, the new unit will include the group’s regional data centre business, subsea cable and satellite carrier businesses. Paragon, the telco’s platform for 5G multi-access computing (MEC) and cloud orchestration, will also be part of the unit.
“This consolidation of our consumer and enterprise units in Singapore is designed to empower our core business to optimise synergies and capabilities to drive growth. With a more unified approach, we would be more agile, competitive and compelling when bringing solutions to market,” says group CEO Yuen Kuan Moon.
“At the same time, this will allow us to deliver better outcomes for our customers, whether they are consumers, small businesses or enterprise customers,” he adds.
On the addition of a new infrastructure unit, Yuen notes that the telco has a “large and unique portfolio of digital infrastructure assets across Asia”, which sets the group apart from the rest of its peers.
“Since Covid, accelerated digitalisation has turned these assets, the passive backbone of our business, into an area of growth. Having invested heavily in these assets through the years, establishing them as a standalone business will allow us to capture new growth as their importance and appeal continue to increase,” he says.
“These actions are aligned with the strategic reset we announced two years ago and will reinvigorate our core business in Singapore, thereby enhancing returns for our shareholders. With the rising importance of digital infrastructure globally, the new Digital InfraCo is well-positioned to be a credible growth engine that will allow Singtel to unlock latent value in the business,” he adds.
New appointments and changes
In line with the restructuring, Singtel has made several new appointments and appointment changes
Ng Tian Chong, a veteran executive from Hewlett Packard (HP) will join Singtel to head the newly-consolidated consumer and enterprise business with effect from June 1. Ng was most recently HP’s senior vice president and managing director of its Greater Asia business where he oversaw HP’s go-to-market strategies and overall financial performance.
“I’m thrilled to be joining Singtel, a storied Singapore brand that is very much part of the Singapore growth story. I hope to play a key role in meeting the evolving needs of our consumers and business customers and driving Singtel’s next phase of digital growth,” says Ng.
Both Anna Yip, CEO of Singtel’s consumer business in Singapore and Lim Seng Kong, the managing director of Singtel’s Singapore enterprise business, will report to Ng when he joins the telco. Yip will be redesignated as the deputy CEO of the new entity.
She will also assume the new role of CEO of Singtel’s business development department and report to CEO Yuen directly. In Yip’s new role, she will oversee Singtel’s digital finance portfolio, which includes GXS Bank and Dash. She will also drive the regional growth of the digital GOMO brand and develop new business-to-business-to-any end-user (B2B2X) ventures that are value accretive to the group’s core.
“I’m delighted to be part of the team driving the consolidation of Singapore’s consumer and enterprise businesses and look forward to working closely with Tian Chong to draw on the synergies of collaboration to take the business forward. I also look forward to growing our digital finance and B2B2X businesses, by building on our local operational experience to reach new markets and customers with like-minded strategic partners,” says Yip.
Bill Chang, who was in charge of Singtel’s enterprise business portfolio, will helm the new Digital InfraCo with effect from June 1.
“The growth of the digital economy has pushed up the value of infrastructure assets around the world and Singtel’s assets are no exception. I’m excited to be driving the monetisation and value crystallisation of our quality portfolio of assets in an area where we not only have a right to play, but the competitive advantage to win,” says Chang.
Finally, Singtel will appoint Jorge Fernandes as its group chief technology officer (CTO), also with effect from June 1. Fernandes, a seasoned telecoms executive, spent most of his career as CTO in Vodafone where he led technology strategy and delivery execution across Vodafone UK, Turkey and Portugal.
He was most recently chief technology information officer (CTI)O with Rogers Communications in Canada. He replaces Mark Chong who was seconded to AIS, Singtel’s Thai regional associate, as its deputy CEO in December 2022.
“I’m honoured and thrilled to be joining Asia’s leading communications technology group and top 10 global telecom brand with such a proud tradition and forward-looking commitment towards innovation, technological firsts and investment. I look forward to bringing my breadth of global experience and team leadership to the organisation and supporting Singtel’s ambitions to harness technology to empower consumers, companies and communities,” says Fernandes.
Both he and Ng will join Singtel’s management committee when they step into their roles on June 1.
“We’re very pleased to bring on board leaders of Tian Chong’s and Jorge’s calibre. Their expertise and experience across a diversity of developed and emerging markets will no doubt add to our bench strength as we strive to advance our core business and pursue new business. At the same time, I have every confidence that Bill and Anna will build on our strong infrastructure legacy and mobile core to create opportunities for new growth,” says Yuen.
Shares in Singtel closed 5 cents higher or 2.01% up at $2.54 on April 27.
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