“Cloud, digitalisation and AI are transformative trends reshaping industries, businesses and the way we live and work,” writes Singtel group CEO Yuen Kuan Moon in the company’s latest annual report. “Recognising these growth opportunities, we carved out NCS and Nxera as key growth engines in digital services and digital infrastructure. We set a target to increase NCS and Nxera’s ebitda contributions to the group from 12% in FY2023 to 20% by FY2028.”
Singapore Telecommunications (Singtel) is one of the better-performing Straits Times Index (STI) stocks this year, as investors sent its share price above $4, given its clear commitment to pay more dividends from both its asset monetisation programme and improving operating results.
Within its sprawling, multi-industry, multi-market portfolio, a key growth engine is NCS, Singtel’s enterprise services unit, which delivered a 39% y-o-y rise in ebit to $254 million in FY2025. Bookings rose 5% to $3.2 billion, driven by wins and renewals across multiple sectors.
