Home News Corporate moves

Singtel reiterates new strategy moving forward

Samantha Chiew
Samantha Chiew7/9/2021 7:0 AM GMT+08  • 5 min read
Singtel reiterates new strategy moving forward
Singtel reiterates its strategic reset plans in its latest annual report.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

In its latest annual report published on July 7, Singtel chairman Lee Theng Kiat and group CEO Yuen Kuan Moon have recognised that the Covid-19 pandemic has provided tailwinds of digitalisation that the telco intends to exploit.

“The pandemic has pushed things over the technology tipping point, amplifying trends that are redefining the basis for success for our industry. Customers have embraced self-service customer care, digital-enabled sales interactions have surged, and business processes have moved irrevocably online. We believe that this is a unique opportunity to restructure for recovery and growth and have embarked on a strategic reset to sharpen the group’s focus and improve shareholder value,” says Lee and Yuen in their joint message to shareholders.

This comes on the back of Singtel announcing its plans for a strategic reset on May 27, as what analysts have been calling a “clean slate” for the group to move ahead in the current FY2022. This was also announced alongside a lacklustre FY2021 ended March earnings which fell 49% y-o-y to $544 million, as well as $1.2 billion in impairment.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.