Eileen Yu
for By The Way
| November 22, 2021
| Topic: Telcos
StarHub has unveiled a five-year business transformation plan that will see the Singapore telco focus on becoming a “full-on digital life” and digital services provider. It also is aiming for a further cost savings of SG$280 million ($205.54 million) and SG$220 million ($161.5 million) in gross profit growth cumulatively between 2022 and 2026.
Coining it “DARE+”, StarHub said Monday it concluded the first phase of its DARE transformation journey last month, which yielded cost savings in excess of SG$270 million ($198.2 million) and was higher than its original target of SG$210 million. It also slashed its operating expenditure by 15%.
The telco now would look to attain “sustainable revenue growth”, “potential growth” in dividends, and product margins with the introduction of 5G products and services. It also was aiming for further operating cost savings with its digital transformation efforts and migration from legacy systems.
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