Comrades,
Singtel/Starhub/M1 have just reported their figures for the December quarter to the end of 2024. Details are below:
Combined numbers for all 3 MNOs for July-September quarter 2024:
Home broadband: +1k
Mobile (Postpaid + Prepaid): +11k
Combined numbers for all 3 MNOs for September- December quarter 2024:
Home broadband: -6k
Mobile (Postpaid + Prepaid): +25k
From above figures, I think SIMBA will be doing extremely well when it next reports in March. The mobile market has expanded considerably in the last few months since SIMBA first introduced the $20 plan with 300GB shared between SG-MY in October last year. That game changer has now evolved to include most plans with local data shared between SG-MY and now Indonesia (SG-MY-ID). Foreign workers/students from Malaysia and Indonesia (with work/student VISA) can buy up to 10 SIM-Only SIMs to send home for relatives to use at a fraction of cost in their own countries (eg. $12 will get you 250GB SG-MY-ID plus 7GB International). SIM-Only plans can continue indefinitely whereas Tourist Prepaid SIM auto-expired at 30 days. I think these new "APAC plans" will eventually expand to include other Asean countries like India, Vietnam, Taiwan, Thailand, Japan, Korea, Australia.... all top holiday destinations for Singaporeans.
With Data-Only plan (
SIMBA), global Travel eSIM market (
GOOSE eSIM), home broadband recently introduced in the last few months plus government broadband grants, the revenue will increase substantially in the next few years. SIMBA will continue to allocate these surplus cash to pursue their market land grab at break-neck pace as evidenced by their continued plans uplift almost on a monthly basis. From a disruptive $10 for local 50GB just a few years ago, Singaporeans now have 200GB shared SG-MY + 3GB (Intl)+++++ for the same $10.
The journey ahead is exciting indeed.
As always, this is just my observation, not financial advice. Please do your own research.
Howie
(20min delay)