Singapore’s second largest telco by subscribers and revenues, StarHub, has announced the completion of its migration from cable to fibre, under a ten-month plan to move thousands of customers to advanced technology in the city-state. ZDNET cites StarHub chief of consumer business group, Johan Buse, as confirming: ‘Over the past ten months, StarHub assisted hundreds of thousands of customers to migrate from cable services to superior, high speed fibre services … We are excited that all our customers can now fully benefit from higher broadband speeds, enhanced TV experience, and enjoy the rich services that fibre enables.’
Last month, StarHub reported that net profit for the three months ended 30 June 2019 plunged 36.1% year-on-year to SGD39.5 million (USD28.6 million) from SGD61.7 million, while revenues dipped 7.4% to SGD552.8 million from SGD597.3 million. The operator noted that the fall in revenue was the result of lower revenues from mobile, pay-TV, broadband and sales of equipment, which was only partially mitigated by a higher Enterprise Business revenue. For the first half of the year, meanwhile, StarHub booked net profit of SGD93.5 million (down 25%) on revenue of SGD1.15 billion, down 0.9% from SGD1.16 billion in 1H18. The carrier’s broadband unit contributed service revenue of SGD45.1 million in Q2 2019, down 2.2% when compared to the year-ago quarter, mainly due to lower ARPUs which slipped to SGD29 in the three-month period under review – from SGD32 in 2Q18 – as StarHub launched promotional offers to drive higher gross adds and the migration of existing cable subscribers to fibre broadband. Broadband average monthly churn was at 1.0% and 0.9% in Q2 and H1, respectively. The telco recorded 509,000 residential broadband users on its books at end-June 2019, up 8.1% y-o-y. Meanwhile, StarHub’s pay-TV service revenue fell 23.6% y-o-y to SGD64.7 million as the subscriber base slumped a net 64,000 to 374,000.