Interesting comments from Starhub CEO, the number 2 telco player regarding market consolidation at the FY2023 results presentation yesterday.
At the briefing, Eapen hinted at further consolidation in the telco space, with the group already consolidating its broadband business with MyRepublic Singapore previously. Market observers have at varying times speculated that StarHub will either merge with Keppel's unit M1 or with Simba, the fourth operator, held under Australia-listed entity Tuas.
"The truth with consolidation is it never happens when you think it will or want it to, but it will inevitably happen. So all we can say is that it is a natural course of things and all we can do is be ready," he says.
"We are constantly on the alert, ready and able to do domestic consolidation should the opportunity arise," adds Eapen.
Meanwhile, David Teoh keeps grabbing the low hanging fruits as quickly as he can and let M1/Starhub do the chasing. First Mobile, now Consumer Broadband and soon Business Broadband, TV contents....etc
I think in the end it's either M1/SIMBA or Starhub/SIMBA merger but not Starhub/M1 as it's impossible for their ACCC (IMDA) to wave through a number 2/3 players merger. My preferred outcome would be SIMBA/M1 (number 3/4) tie-up with David Teoh and the team running the combined ship and expanding into adjacent markets. Any consolidation that may or may not involve SIMBA is good for all remaining players as there is less competition.
M1 reported a net loss of 44k Prepaid SIM for Sept-Dec quarter. Starhub reported a net gain of 11k Prepaid SIM for Sept-Dec quarter. Singtel won't report until May 2024.
Incoming tourist keep climbing in the last 3 months, predicted to be back to Pre-Covid level this year according to Singapore Tourism Board. This means more Roaming fee for all telcos.
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(20min delay)