(June 30): Singapore Telecommunications Ltd cut Group CEO Yuen Kuan Moon’s pay by 17% after a year marked by emergency service disruption and network outages in Australia and Singapore.
Yuen’s total remuneration for the year ended March 31 fell to S$6.82 million from S$8.21 million a year earlier, according to Singtel’s 2026 annual report released Tuesday. The board said it considered the Optus Triple Zero incident and Singtel Singapore’s network outages when assessing his performance and determining his remuneration.
Total remuneration for the group’s other key management personnel also declined 12% to S$25.9 million.
The cuts come after its Australian unit Singtel Optus Pty was criticised in an independent review into the September 2025 fatal outage that disrupted access to the country’s Triple Zero emergency service. In the annual report, Optus said its board had accepted all 21 recommendations from the review. It has since strengthened real-time monitoring of emergency services, expanded onshore network operations and call centres, and introduced automated welfare checks during outages.
Singtel also came under investigation by Singapore’s telecoms regulator in March after a series of mobile network disruptions that affected about 600,000 customers.
The telco’s net income for the six months ended March tumbled 21% to S$2.21 billion from a year earlier while revenue was little changed.
See also: Barclays buys Canary Wharf HQ building for £750 mil
Singtel said it remained confident about its broader outlook. While there are uncertainties in the Middle East, “the group’s geographical diversification and strong fundamentals serve as advantages that position us to navigate macro and market headwinds”, chairman Lee Theng Kiat and Yuen wrote in the report.
Uploaded by Arion Yeow
