Latest news with #NikhilEapen
CNA
a day ago
- Business
- CNA
StarHub's first-half net profit plunges over 40% as 'eroding prices challenge industry stability'
Singapore telco StarHub's net profit for the first half of 2025 plunged over 40% on-year to S$47.9 million, after a one-off payment to return certain spectrum rights. CEO Nikhil Eapen said "eroding prices" are challenging industry stability, and it is leaning into broadband, regional enterprise and cybersecurity services — segments that helped lift total revenue by 2.2%. Nicolas Ng reports.
Online Citizen
4 days ago
- Business
- Online Citizen
StarHub completes full acquisition of MyRepublic broadband business for S$105.2 million
StarHub announced on 12 August 2025 that it has acquired the remaining 49.9 per cent of MyRepublic Broadband, taking full control of the business in Singapore. The transaction, worth S$105.2 million , comprises S$94.3 million for shares and S$10.9 million for operational assets, according to a Singapore Exchange (SGX) filing. The purchase includes the MyRepublic brand in Singapore and certain key assets associated with its broadband business and operations. StarHub said the acquisition strengthens its multi-brand, multi-segment approach, enabling greater service differentiation and cross-product bundling for customers. Chief executive Nikhil Eapen described the deal as 'an acceleration' rather than merely an acquisition, stating it builds on a 'strong foundation for growth'. With full ownership, StarHub said it will be able to 'move faster, go further, and serve customers with greater clarity and care'. Eapen noted that Singapore's broadband market is undergoing consolidation, with scale, quality, and resilience becoming increasingly important. He added that smaller players without robust platforms may struggle to sustain operations, positioning StarHub as a provider of reliable and consistent services. The deal follows Keppel's announcement on 11 August 2025 that it will sell M1's telecom operations to Simba Telecom for an enterprise value of S$1.43 billion (US$1.11 billion). StarHub had initially acquired a 50.1 per cent stake in MyRepublic Broadband in 2022, after receiving regulatory approval from the Infocomm Media Development Authority.
Yahoo
4 days ago
- Business
- Yahoo
StarHub to take full control of MyRepublic's broadband business in $105.2 mil deal
"We're in a phase of consolidation and we're not just watching it unfold, we're shaping it": StarHub CEO Nikhil Eapen StarHub is taking full ownership of MyRepublic's broadband business, having first taken a 50.1% stake in a deal first announced on Sept 2021. On Aug 12, StarHub says it is paying $94.3 million for the remaining 49.9% stake in MyRepublic broadband business it does not already own. In addition, StarHub is paying $10.9 million for operating assets as well, for a total consideration of $105.2 million. Based on MyRepublic Broadband's unaudited financial statements for the year ended Dec 31 2024, the aggregate net asset value attributable to the sale shares and the sale assets was negative $0.6 million, generating earnings of $5.16 million. Part of the consideration, of some $74.2 million, will be funded using an existing loan which was extended by StarHub to MyRepublic earlier. On a pro forma basis, the deal, assuming it was completed on Jan 1 2024, would have lifted StarHub's EPS to 9.1 cents instead of 8.9 cents. Back when StarHub first announced its investment in MyRepublic back in Sept 2021, it said it would pay up to $162.8 million for the 50.1% stake. With the sale of its remaining stake in the broadband business, MyRepublic in Singapore is left with its mobile business. It used to operate in Australia and New Zealand and operates in Indonesia. Industry consolidation Just yesterday, Aug 11, Keppel announced the sale of its subsidiary M1's telco business to another mobile operator Simba, which is listed as Tuas in Australia. StarHub has been widely cited as the possible acquirer of M1. In a filing to the exchange on Aug 12, StarHub says the full ownership of MyRepublic's broadband business will reinforce its leadership in the Singapore broadband market, catering to different customer segments via different brands. With full ownership of MyRepublic broadband, StarHub can achieve "greater strategic alignment" and also control the operating assets. 'This isn't just an acquisition. It's an acceleration,' says StarHub CEO Nikhil Eapen. 'We've laid a strong foundation for growth and with MyRepublic Broadband fully under our wing, we can move faster, go further, and serve customers with even greater clarity and care.' Referring to the local broadband market, Eapen adds: "We're in a phase of consolidation and we're not just watching it unfold, we're shaping it." StarHub closed at $1.16 on Aug 11, down 4.92%. 7 million; to pay final dividend of 3.2 cents Read more stories about where the money flows, and analysis of the biggest market stories from Singapore and around the World Get in-depth insights from our expert contributors, and dive into financial and economic trends Follow the market issue situation with our daily updates Or want more Lifestyle and Passion stories? Click hereError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Times
4 days ago
- Business
- Business Times
StarHub acquires remaining 49.9% stake in MyRepublic Broadband
[SINGAPORE] StarHub has acquired the remaining 49.9 per cent stake in MyRepublic's broadband business that it did not already own, through its wholly owned subsidiary StarHub Online, the telco said on Tuesday (Aug 12). The acquisition, which makes MyRepublic Broadband a wholly owned StarHub subsidiary, comes one day after the years-long speculation of StarHub acquiring M1 from Keppel was quashed when the asset manager announced its proposed sale of the telco to Simba Telecom . 'The acquisition allows StarHub to assume full ownership of MyRepublic Broadband, enabling greater strategic alignment,' StarHub said. Nikhil Eapen, chief executive of StarHub, said: 'We've laid a strong foundation for growth and with MyRepublic Broadband fully under our wing, we can move faster, go further, and serve customers with even greater clarity and care.' StarHub in March 2022 received regulatory approval from the Infocomm Media Development Authority (IMDA) to acquire a 50.1 per cent stake in MyRepublic's broadband unit. IMDA said then that the proposed move could result in a horizontal consolidation as both companies compete in public Internet access services, Internet protocol telephony services and managed data network services. Shares of StarHub ended Monday 4.9 per cent or S$0.06 lower at S$1.16.
