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StarHub CEO rebuffs talk of merger with M1, says keen on boosting profit of cyber-security unit

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StarHub CEO rebuffs talk of merger with M1, says keen on boosting profit of cybersecurity unit

SINGAPORE - Mainboard-listed StarHub chief executive Peter Kaliaropoulos rebuffed speculation of a possible merger between the telco and its 5G bid partner M1 at its virtual annual general meeting on Friday .

The cyber-security business clocked a full-year turnover of $145.7 million in the 12 months to Dec 31, 2019, but also chalked up losses of $21.8 million. Manufacturing and healthcare clients offer short to medium-term cyber-security growth opportunities, even as Ensign looks to grow in the Asia-Pacific, he added.

But he quashed the notion that StarHub is angling for a merger with Keppel-owned M1. While the two telcos are set to share the costs in a joint roll-out of 5G network infrastructure, Mr Kaliaropoulos stressed that the partners"will launch their own offerings and solutions for customers with separate go-to-market strategies".

 

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