SingTel Makes Broadband Bid

SINGAPORE -- Singapore Telecommunications Limited (SingTel) submitted a bid earlier today in response to IDA’s Request for Proposal for an Operating Company (OpCo) to design, build and operate the active infrastructure of Singapore’s Next Generation National Broadband Network.

Mr Mark Chong Chin Kok, SingTel’s Executive Vice President of Networks, said: “SingTel has submitted a very compelling proposal to be the OpCo, based on the latest broadband technology and backed by our vast operating experience, knowledge and expertise in the telecommunications industry.”

“We fully support the Government’s iN2015 blueprint to transform Singapore into one of the world’s most connected cities with pervasive ultra-fast fibre-based broadband network access. We believe that our proposal will enable the flourishing of a vibrant community of retail service providers in Singapore and consumers can look forward to feature-rich applications and services at home and work – at speeds of up to 1Gbps – that will enrich their lives and allow them to be more productive. The way we live, work and play will not be the same going forward,” he added.

SingTel, given its strong cashflow, does not expect to tap the financial market for additional funds should it be appointed as the OpCo.

Singapore Telecommunications Ltd. (SingTel) (OTC: SGTJY)