Singapore Telecommunications : New Singtel organisation structure to capture digital growth

• Creation of 5G Enterprise portfolio
• ICT arm NCS to operate as an autonomous business unit
• Group CFO office to include management of International Group investment portfolio
• New management structure and appointments

Singapore, 31 December 2020 - Singtel today announced a reorganisation of its structure designed to position the Group to capture new digital growth. 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. In addition, Singtel's ICT arm NCS, the largest ICT services provider in Southeast Asia, will report directly to the Group CEO to accelerate its expansion into Asia Pacific, with special focus on Australia and China. These changes will take effect from 1 January 2021.

Group CEO-designate Mr Yuen Kuan Moon said, '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. 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.' He added, 'NCS has reached scale, having delivered positive revenue growth for seven years running. The greater autonomy will help NCS maximise its potential by expanding its footprint beyond Singapore to build a strategic presence in the major markets for digital transformation. This is part of our longer term plan to create more value for the Group by turning NCS into a leading regional B2B digital services company.'

From 1 April 2021, the International Group, which currently manages Singtel's portfolio of strategic telecom investments, will be brought under the Group CFO office.

Mr Yuen explained, 'Our regional associates continue to contribute significantly to Singtel's financial performance as they grow in their respective markets. 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

These changes will result in the modification of the Group's management structure with new appointments to the management committee.

From 1 January 2021, NCS CEO Mr Ng Kuo Pin and Dr Anna Yip, Deputy CEO of the Consumer Singapore division will join Singtel's management committee. From 1 April 2021, Mr Arthur Lang, 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. This will be helmed by Mr 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 Ms Lim Cheng Cheng will become Group Chief Corporate Officer.

Two members of the Singtel management committee - Mr Allen Lew, CEO of Group Strategy and Business Development and Ms Jeann Low, Group Chief Corporate Officer - will be retiring from end April 2021. They 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 Mr 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.'

Please refer to the Annex for the organisational chart of the Group's new management committee from 1 April 2021 and details of its new corporate centre.

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