Having endured several years of earnings decline, Singapore Telecommunications (Singtel) might just find itself turning the corner. While the operational improvements are in tandem with the recovery from the pandemic, what makes the telco interesting will be its forays beyond its traditional sphere.
It has an impending digital bank joint venture with super app developer Grab Holdings in Singapore. Given the duo’s regional footprints, they are understandably keen on the rest of Asean.
On Jan 21, Singtel announced it was paying $48 million for a 16.3% stake in Indonesia’s Bank Fama International. Incidentally, other investors in Fama include none other than Grab.