ST Explains: Who owns Simba, the company that is buying M1?
Simba Telecom will be acquiring M1 from Keppel in a deal worth $1.43 billion.
SINGAPORE - Keppel will be
selling the telecommunications business of its subsidiary M1 to rival Simba Telecom for $1.43 billion.
The sale has been widely anticipated by market watchers. But speculation had centred on StarHub instead of Simba as the likely buyer.
Simba and M1 have the least overlap in resources, which Keppel said is expected to create further revenue pools and career opportunities.
The Straits Times explains who owns Simba, Singapore's fourth telco, and what the sale means to consumers.
Who is Simba?
Simba, previously known as TPG Singapore, became the Republic's fourth telco in 2016 after winning an airwave auction held by then regulator Infocomm Development Authority, which has since become the Infocomm Media Development Authority.
Simba is owned by Australia-listed company Tuas, incorporated in March 2020 as part of the Australian TPG Group. After a merger between TPG Australia and Vodafone Hutchison Australia in June 2020, the Singapore mobile business was separated from the broader TPG Group and all its shares were transferred to Tuas.
In 2022, the telco rebranded itself after usage rights to the TPG brand expired.
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Simba, which operates only in Singapore, spent several years rolling out its mobile and fixed broadband networks, and launched commercial services here only in 2020.
Its first product was a SIM-only plan that offered 50GB of data for $10 monthly – the cheapest in the market.
Australian billionaire David Teoh is executive chairman of Tuas and chairman of Simba. Simba's chief executive officer is Mr Richard Tan, who is based in Singapore.
What is Simba known for?
Simba is known for its affordable and generous mobile plans, starting at $5 per month for 400GB of data for seniors.
Its 5G plans range from 400GB to 700GB, offering seamless connectivity across regional destinations. The most basic plan for adults, SuperRoam10, comes with 400GB of data for Singapore, Malaysia, Indonesia and Hong Kong at a price of $10 monthly.
How big is Simba in Singapore?
Simba had more than one million mobile subscribers as at December 2024. It is the fourth-largest telco here.
Singtel commands half of the total number of mobile subscribers here, with 4.5 million customers, while StarHub and M1 each has about two million subscribers.
How will Simba's acquisition of M1 affect customers?
Keppel said the deal is expected to benefit consumers through market consolidation and harnessing synergies between the two telcos.
Simba and M1 have the least overlap in resources, which Keppel said is expected to create further revenue pools and career opportunities.
'The proposed transaction offers a strategic path to sustainable growth for Singapore's telco sector,' said Keppel CEO Loh Chin Hua.
'M1 and Simba are a highly synergistic combination. Together, they can scale more efficiently, optimise infrastructure, and accelerate 5G and digital investments, greatly enhancing service quality while contributing to a more resilient, future-ready telco industry.'
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