SingTel – BT

SingTel eyes acquisitions, higher stakes in partners

SINGTEL is on the lookout for acquisition opportunities and – as usual – is keen to raise its stakes in regional associates. ‘We are in a very strong financial position that will put us in a good position to look for acquisition opportunities,’ said group CEO Chua Sock Koong. ‘But clearly, we are not in a big rush to make acquisitions, given the global uncertainties.’

SingTel has always been keen to raise its stakes in regional associates, she added. But this is on a willing buyer-seller basis and terms that are acceptable to each side. ‘If an opportunity does arise, we will look at it seriously,’ Ms Chua said.

Also at SingTel’s third quarter results briefing yesterday, SingTel International CEO Lim Chuan Poh told reporters the group will not pick up cheap assets that have no strategic value and it remains focused on the Asia-Pacific region.

So far, not all of SingTel’s overseas ventures have borne fruit. Pakistan’s Warid and Bangladesh’s PBTL suffered bigger losses in the December quarter, due to to fair value losses. But SingTel said it remains committed to its investments in these operators and will try to improve their performance.