With borders reopening and air travel restarting, the telco can finally enjoy a respite, with roaming revenues set to head higher.
Singtel’s Australian unit ATN, along with AustralianSuper, Australia’s largest superannuation fund, acquired Axicom, a leading provider of telecommunications tower infrastructure, for A$3.58 billion.of Australian tower assets for A$1.9 billion last year. Over on its balance sheet, Singtel reported healthy credit metrics, sporting an interest cover ratio of close to 15 times with 95% of its debt at fixed rates.Singapore mobile average revenue per user inched up 2.6% year on year to S$24 per month.However, the telco saw its mobile customer market share decline from 51% a year ago to 48%, which CEO Yuen Kuan Moon attributed to the fall in Singapore’s foreign workforce.