Singtel pushes data centers, IT as mobile business matures

Shares at 4-year high as region's largest telecom company seeks growth

Singaporean telecom company Singtel is pouring resources into new growth areas, such as IT systems and data centers, as its mainstay domestic business matures. © Reuters

TSUBASA SURUGA, Nikkei staff writer

September 13, 2024 10:20 JST

SINGAPORE -- Singapore Telecommunications is looking to make its data center and IT businesses the group's new growth pillars under its latest strategic plan, as the Southeast Asian telecom company's main business matures in established markets.

Singtel's share price has risen more than 30% so far this year, hitting a four-year high and reflecting investors' bullishness on the group's growth plan.