SingTel

SINGAPORE

GENERAL INDEX SingTel Background 2001 SingTel offer SingTel Offshore Investments SingTel FORUM (CD only)

UNI APRO PAGES Singapore Optus Australia Globe Telecom

CORPORATION OWN PAGES SingTel Home Page Globe Telecom Philippines Optus Australia Belgacom Belgium New Century Infocomm Taiwan

SINGTEL BACKGROUND

SingTel is the Singapore Telecommunications Ltd and in 2001 is Asia's 8th largest teleco. SingTel was privatized on 1/4/1993 and listed in Singapore Stock Exchange. The telecom market in Singapore was fully liberaised with StarHub, a new fixed line operator, operating from 1/4/2000.

April 2002
Singapore Telecom offers to buy a further 12.7% stake of mobile operator Telkomsel (Indonesia) for US$429 million. Singtel owns 22% already and this will take it to 35%.

March 2001:
CEO is Lee Hsien Yang
SingTel is majority owned by the Singapore Government (2001 78%) but this is expected to change following listing on the Australian Stock Exchange. In 2001 it earns about 30% of income from foreign investments.

Sep 2002
Singapore Telecom mobile customers total 29 million covering SingTel (Singapore), Optus (Australia), Advanced Info Service (Thailand), Bharti Group (India), Globe Telecom (Philippines) and Telkomsel (Indonesia),

Dec 2003
Temasek Holdings is the Singapore government investment arm, and is the vehicle for investment. It will cut its stake in Singapore Telecom to 61.5%

Dec 2003
Singapore also provided USA with an assurance that it will sell SingTel and ST. The letter stated: Dear Ambassador Zoellick: The Singapore Government is committed to the privatization of SingTel and ST Telemedia and to the objective of reducing its existing stakes in these companies to zero, subject to the state of capital markets and the interests of other shareholders. The Singapore Government will thereafter only hold shares in these companies as part of its portfolio investments. For SingTel, the privatization process began in 1993 with the listing of SingTel on the Singapore Stock Exchange. Since then, the Singapore Government has progressively reduced its stake in SingTel and currently holds 67.56% of its shares. SingTel has also been listed on the Australian Stock Exchange since September 2001. The Singapore Government will establish a plan to divest its majority share in SingTel and ST Telemedia. The Singapore Government understands the United States interest in seeing such divestment completed as soon as feasible. The Singapore Government exercises no control over the commercial policy of SingTel and ST Telemedia and the Singapore Government does not have veto rights over the key decisions of these companies by way of a golden share. Neither SingTel nor ST Telemedia receives any subsidy from the Singapore Government. Both SingTel and ST Telemedia are fully subject to the independent regulatory oversight and authority of the Info-communications Development Authority of Singapore (IDA), which is empowered under the Info-communications Development Authority of Singapore Act to ensure that they do not engage in anti-competitive behaviour. [George Yeo, Minister for Trade and Industry Singapore] [AFTINET]

Jan 2004
While Singapore has a population of about 4 million, its largest carrier and mobile carrier, SingTel, has announced that its mobile customer base in the region exceeds 44 million. SingTel owns SingTel Optus in Australia and Advanced Info Service, Bharti Group, Globe Telecom and Telkomsel. The customer base grew 37% from 32 million over one year.

Feb 2004
Singapore Telecom has formed an alliance with dominant Greek telecoms operator OTE. OTEGlobe will handle Singapore calls to Greece, the Balkans and southern Europe. SingTel will reciprocate in Asia-Pacific. Singtel holds a minority stake in Belgacom in Europe, but is expected to sell this stake soon.

2001 SINGTEL OPTUS OFFER

September 2001
Singapore Telecom successfully overcome problems in Australia and Optus shareholders accepted the offer. Singtel got over 90% acceptances and can now compulsorily acquire all shares. Singtel will be listed on the Australian Stock Exchange on September 10. About 6.5 million shares will be listed. The shared traded at A$1.81 on the first day. None of the 12 billion SingTel shares held by the Singapore government-owned Temasek Holdings will be sold at this stage.

26 March 2001: SingTel made an offer for the Cable & Wireless majority holding (52.5%) in Optus. Singtel has several options but is expected to pay about A$17bn. The offer represents a premium of 13%, at A$4.50 per share. They last traded at A$3.99. C&W Optus has 8,569 employees.

Optus has 3 divisions: Mobiles, Consumer and Multimedia (CMM), and Data and Business.

SINGTEL OFFSHORE INVESTMENTS

2001: SingTel has operations in 22 cities in 14 countries across the globe including China, Hong Kong, Taiwan, Japan, Korea, Malaysia, Indonesia, Vietnam, the United Kingdom and the United States.

Singtel has interests in:

• Belgium (Belgacom)
  
• Phillipines (Globe Telecom) 2001: SingTel thru STI has 23.9% percent,at a cost of about S$473 million. Philippines second largest mobile phone company. It also provides international and fixed line services.
• Thailand - Advanced Information Service - 22% - GSM/Analogue 900 - No 1 operator in Thailand - Singtel 22% - COO Allen Lew
• India - Bharti Group - 32% - (Bharti Telecom, Point Asia Dot Com and Infoserve)
• Taiwan - New Century Infocom (Far Eastern Group and Singapore Telecom)
• Australia - Optus - 100%
• Philippines - Globe Telecom - 24%
• Indonesia - mobile operator Telkomsel. Dec 2001 had 50% of marker with 3.3m customers. In Apr 2001, Singapore Telecom offers to but a further 12.7% stake of mobile operator Telkomsel (Indonesia) for US$429 million. Singtel owns 22% already and this will take it to 35%.