Singtel to capture ‘new digital growth’ with new portfolio

CNA – Telco Singtel yesterday announced a reorganisation of its structure to “capture new digital growth”.

The company said in a news release that 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,” said Singtel.

NCS TO OPERATE AS AUTONOMOUS BUSINESS UNIT

Singtel’s information and communications technology (ICT) arm NCS will operate as an autonomous business unit, reporting directly to the Group CEO to accelerate its expansion into Asia-Pacific, with special focus on Australia and China.

These changes will take effect today, said the telco. “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,” said Singtel Group CEO-designate Yuen Kuan Moon. “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.”

Singtel building in Singapore. PHOTO: AFP

Yuen said that the greater autonomy would help NCS maximise its potential by expanding its footprint beyond Singapore to build a strategic presence in major markets for digital transformation.

This is part of a longer-term plan to turn NCS into a leading regional business-to-business digital services company, he said.

From April 1 Singtel’s International Group, which currently manages Singtel’s portfolio of strategic telecom investments, will be brought under the Group CFO office.

“Our regional associates continue to contribute significantly to Singtel’s financial performance as they grow in their respective markets,” said Yuen.

“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.”

NEW MANAGEMENT STRUCTURE AND APPOINTMENTS

Singtel also announced new appointments to the management committee.

From today, NCS CEO Ng Kuo Pin and Dr Anna Yip, Deputy CEO of the Consumer Singapore division will join Singtel’s management committee. From April 1, Arthur Lang, who is 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. The Group Strategy and Business Development unit will be combined with the Group Digital Life (GDL) division to become the Strategic Portfolio unit helmed by Samba Natarajan, currently CEO of GDL.

Besides overseeing the group’s digital marketing arm Amobee, and the group’s corporate venture fund Innov8, this portfolio will now include strategic planning and business restructuring. Current Group CFO Lim Cheng Cheng will become Group Chief Corporate Officer.

Two members of the Singtel management committee – Allen Lew, CEO of Group Strategy and Business Development and Jeann Low, Group Chief Corporate Officer – will be retiring from end April, and will take on advisory roles post-retirement.

“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 Yuen.

“Both Allen and Jeann have served in critical roles across geographies within the organisation. On behalf of the company, I would like to extend my gratitude to them both for contributing immensely to Singtel’s success.”