Singtel has reorganised its structure to position the Group to capture new digital growth. Key to this is the creation of a new portfolio under its Group Enterprise division dedicated to driving 5G Enterprise business across the region by leveraging the Group’s regional footprint. The move to help businesses accelerate their digital transformation comes as companies embrace new business models and race to go digital in response to COVID-19 and the resulting changes that travel restrictions and lockdowns have had on the broader business landscape. In addition, Singtel’s ICT arm NCS, the largest ICT services provider in Southeast Asia, reports directly to the Group CEO to accelerate its expansion into Asia Pacific, with special focus on Australia and China. These changes came into effect on 1 January 2021.
Group CEO-designate Mr Yuen Kuan Moon said, “5G is going to be more than just a connectivity play for us and this refocus of the business will allow us to go after the digital growth that 5G will fuel as a plethora of use cases and business models emerge. With COVID-19 also changing the game for companies, we see this as an opportune time to reset our business and prioritise areas where we see the greatest opportunities for growth by leveraging our extensive footprint across Asia.”
“NCS has reached scale, having delivered positive revenue growth for seven years running. The greater autonomy will help NCS maximise its potential by expanding its footprint beyond Singapore to build a strategic presence in the major markets for digital transformation. This is part of our longer term plan to create more value for the Group by turning NCS into a leading regional B2B digital services company,” he added.
From 1 April 2021, the International Group, which currently manages Singtel’s portfolio of strategic telecom investments, will be brought under the Group CFO office.
Mr Yuen explained, “Our regional associates continue to contribute significantly to Singtel’s financial performance as they grow in their respective markets. Having the Group CFO’s office oversee the business and financial management of the associates allows for a holistic view on overall Group operating and financial performance, facilitating capital allocation decisions for long-term value creation.”
As of 1 January 2021, NCS CEO Mr Ng Kuo Pin and Dr Anna Yip, Deputy CEO of the Consumer Singapore division have joined Singtel’s management committee. From 1 April 2021, Mr Arthur Lang, currently CEO of the International Group, will take on the role of Group CFO which will include the management of the International Group and regional associates.
“Our renewed management structure will help shape and support our business agenda as we strive to prioritise businesses where we can be relevant in the longer term and grow sustainably,” said Mr Yuen.