As at end of September 2023, Singtel’s gross debt has been reduced by about $1.6 billion while cash balances saw a $3.1 billion boost. Including KKR’s investment of $2 billion and the divestment of Trustwave, the total value realised since the strategic reset should hit $7 billion, says Yuen.
The strategic reset by Singapore Telecommunications (SGX:Z74
) (Singtel) announced two years ago to streamline and reorganise the group’s businesses and unlock value has put the telco on a firmer financial footing and brought about growth.
Singtel’s group CEO Yuen Kuan Moon says: “We’ve simplified our organisation so our businesses have greater agility to pursue growth, divested non-core digital businesses and strengthened our financial position with $5 billion received from the capital recycled.”
