SINGAPORE, May 24 — A planned S$1.43 billion (RM4.43 billion) takeover of M1 by rival operator Simba has been scrapped, ending what would have been Singapore’s first major...
One shock away from crisis: Report says nearly a fifth of PPR households have no savings, over half can last only three months or less Keppel , which has been seeking to divest M1, will now delay any sale by up to two years.
The company has begun a 90‑day effort to stabilise the telco’s performance through cost reductions and automation. — Pexels pic! Plus, enjoy an additional FREE RM10 when you sign up using code VERSAMM10 with a min. cash-in of RM100 today. T&Cs apply.
SINGAPORE, May 24 — A planned S$1.43 billion takeover of M1 by rival operator Simba has been scrapped, ending what would have been Singapore’s first major telco merger and a potential turning point in the sector’s prolonged price war. Simba’s parent company, Tuas Limited, said on May 22 that it had withdrawn from the agreement to buy M1 from Keppel after regulators halted their assessment of the deal while looking into an alleged breach.
The collapse of the transaction leaves the market’s four‑player structure intact and prolongs the intense competition that has squeezed margins across the industry. Keppel, which has been seeking to divest M1, will now delay any sale by up to two years. The company has begun a 90‑day effort to stabilise the telco’s performance through cost reductions and automation. Its shares rose more than 5 per cent over the week, closing at S$10.91 on May 22.
Singtel, meanwhile, saw its stock slide nearly 5 per cent to S$4.59 after reporting a 20.9 per cent drop in half‑year net profit to S$2.2 billion. Although enterprise services continued to grow, the group’s Singapore consumer business weakened further amid aggressive discounting by all four operators in a saturated market.
Chief executive Yuen Kuan Moon said the company is seeking clarity from regulators on whether it may participate in future mergers or acquisitions, arguing that Singapore’s market is too small to sustain four telcos and would ultimately benefit from consolidation. The developments come as other major corporates reported restructuring moves and earnings shifts across the week, underscoring broader pressures in the business landscape.
Simba Tuas Limited M1 Keppel Yuen Kuan Moon
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