Singtel, StarHub lack clear enterprise strategy to drive longer-term performance

Yong Jun Yuan

Published Tue, Nov 15, 2022 · 05:50 AM

AS macroeconomic factors weigh on companies, telcos have historically been seen as a relative safe haven – a way to generate stable returns in a more volatile market.

But the recent numbers for locally listed telcos Singtel and StarHub suggest some cause for concern. Both telcos will need to convince investors they have a long-term strategy to bring in new revenue streams, especially in their enterprise segments.

StarHub appears to have stumbled somewhat in its latest quarter. While revenue grew 14.2 per cent to S$590.8 million in the first nine months of this year, net profit declined 32 per cent to S$27.4 million. After accounting for one-off Premier League and Dare+ investment…