SingTel eyes Asia/Middle East expansion

24 Apr 2007

Singapore Telecommunications (SingTel) says it is considering investment opportunities in central Asia and the Middle East. Its incoming chief executive officer Chua Sock Koong told reporters that the company will focus primarily on the Asian market, but added that SingTel needed time ‘to understand the new markets as well’. SingTel already owns major stakes in Thailand’s Advanced Info Service, India’s Bharti Group, Globe Telecom in the Philippines, Indonesia’s PT Telkomsel, and Pacific Bangladesh Telecom. ‘We’ve started looking at new markets to see if there are good opportunities, including central Asia and Middle East,’ Chua told a press briefing.

In her first media interview since taking the helm three weeks ago, Chua said that SingTel expects to see double-digit growth in its underlying earnings over the next five years.

Singapore, Singtel Group