Is Singtel profitable in 2025?

Yes. Singtel's FY2025 (ended 31 Mar 2025) underlying net profit rose 9% to about S$2.47B, while reported net profit hit S$4.02B (+405%), boosted by exceptional gains from Comcentre and Airtel stake sales, per its 22 May 2025 results release.

Temasek Holdings, Singapore's sovereign investment company, holds roughly 50 to 51.5% of Singtel as of March 2026. US asset manager Capital Group emerged as a substantial shareholder with about 5.1% in May 2026, likely making it the second-largest holder.

Could AI replace Singtel?

No. Singtel's core mobile and fixed network business rests on regulated spectrum licenses and physical infrastructure in Singapore and Australia that software cannot replicate. AI mainly pressures margins in its NCS IT-delivery arm, while Singtel also sells AI infrastructure via RE:AI and Nxera.

Is Singtel losing market share in Singapore?

Yes. Singtel's Singapore mobile market share fell from 46.3% in FY2024 to 44.6% in FY2025 amid a four-player price war, and Singtel/StarHub mobile revenue each dropped about 10% year on year in the March 2026 quarter, per SBR reporting dated 14 July 2026.

Who is Singtel's biggest competitor?

In Singapore, Singtel contests mobile share with StarHub, M1 and Simba amid an ongoing price war (Simba-M1 merger collapsed May 2026). In Australia, Optus's chief rival is incumbent Telstra. In data centres, Singtel is acquiring a stake in former rival ST Telemedia GDC via a KKR-led deal announced 3 February 2026.

What is Singtel's AI strategy?

CEO Yuen Kuan Moon said on 7 July 2026 that AI could lift digital infrastructure and digital services to as much as a third of group EBITDA, spanning RE:AI GPU-as-a-Service (launched Oct 2024), Nxera data centres, and NCS helping enterprise and government clients adopt AI.

Telecom infrastructure · Singapore

Singtel

singtel.com ↗

Singapore's dominant telecom operator with Optus in Australia and a push into data centres.

Hard to displace

Assessed 25 July 2026 · Evidence as of 25 July 2026

Strong structural protection; the business model survives ai pressure.

On the recordSince 25 July 2026 · Checkable from H2 2026 · Every call on the record Checkpoint: STT GDC data-centre acquisition expected to close

The call

Singtel's home mobile business is shrinking under price competition while Optus works through outage and legal fallout, even as the group leans on Temasek backing and new AI-data-centre bets.

Singtel owns the phone lines and wireless towers in Singapore and Australia, which takes decades and billions of dollars to build. No software company or new rival can quickly replace physical networks, so the core business is protected, though it is slowly losing customers to price wars between four competing carriers in Singapore. The company is betting its future on data centers and artificial intelligence services to grow, rather than relying on traditional phone services. What matters most is whether the price war in Singapore is just temporary competition or a permanent loss of customers, and whether Singtel's Optus phone company in Australia faces serious legal trouble from a major 2025 data breach that could damage its license to operate.

Why

AI pressure: Generic AI coding and IT-automation tools. Cheap AI coding tools threaten to squeeze margins at NCS, Singtel's IT-services arm, over time. Could AI do the core job? Unlikely.

Bigger players: Telstra. Telstra's larger Australian network and reach keep pressuring Optus on mobile and broadband share. Could a giant copy it? No, they are blocked.

What protects it. Government-linked ownership (Temasek), regulated spectrum, and physical network assets that software rivals cannot replicate quickly.

What would change this call

Singapore mobile market share reported in FY2026/FY2027 results. Shows whether M1/Simba price competition keeps eroding Singtel's core mobile base.
STT GDC acquisition close, expected H2 2026. Shows whether the AI/data-centre pivot proceeds as a growth offset to mobile losses.
Optus data-breach class-action trial starting 7 June 2027. Shows whether Optus's legal/reputational damage escalates into a group-level financial threat.

Key numbers

Group FY2025 revenue: S$14.146B (2025-03-31)
Singapore mobile share fell 46.3% to 44.6% (2025-03-31)
Optus FY2026 EBIT up 23.1% to A$550M (2026-03-31)

Named risks

Optus Triple Zero outage (Sept 2025) fatalities driving regulatory and reputational fallout. Severity: high
Singapore mobile price war eroding core revenue and market share structurally. Severity: medium
Optus 2022 data-breach class action trial set for June 2027 and pending ACCC $100M penalty approval. Severity: medium
STT GDC acquisition completion dependent on remaining regulatory approvals through H2 2026. Severity: medium
Generic AI coding tools compressing NCS IT-delivery margins. Severity: low

Rivals, as read in July 2026

Rival	Direction	Evidence
StarHub, M1, Simba	contesting	Singapore mobile share fell 46.3% to 44.6% amid price war; Simba-M1 merger collapsed May 2026
Telstra	contesting	Optus remains Australia's #2 telco behind Telstra as of FY2026 results, 20 May 2026
ST Telemedia GDC	gaining on	Singtel joins KKR-led consortium to acquire 82% of former data-centre rival, announced 3 Feb 2026
AWS, Microsoft, Google (hyperscalers)	contesting	Singtel positions RE:AI GPUaaS and Nxera as neutral regional alternative to hyperscaler data centres, 2025-2026

Questions people ask

Is Singtel profitable in 2025?: Yes. Singtel's FY2025 (ended 31 Mar 2025) underlying net profit rose 9% to about S$2.47B, while reported net profit hit S$4.02B (+405%), boosted by exceptional gains from Comcentre and Airtel stake sales, per its 22 May 2025 results release.
Who owns Singtel?: Temasek Holdings, Singapore's sovereign investment company, holds roughly 50 to 51.5% of Singtel as of March 2026. US asset manager Capital Group emerged as a substantial shareholder with about 5.1% in May 2026, likely making it the second-largest holder.
Could AI replace Singtel?: No. Singtel's core mobile and fixed network business rests on regulated spectrum licenses and physical infrastructure in Singapore and Australia that software cannot replicate. AI mainly pressures margins in its NCS IT-delivery arm, while Singtel also sells AI infrastructure via RE:AI and Nxera.
Is Singtel losing market share in Singapore?: Yes. Singtel's Singapore mobile market share fell from 46.3% in FY2024 to 44.6% in FY2025 amid a four-player price war, and Singtel/StarHub mobile revenue each dropped about 10% year on year in the March 2026 quarter, per SBR reporting dated 14 July 2026.
Who is Singtel's biggest competitor?: In Singapore, Singtel contests mobile share with StarHub, M1 and Simba amid an ongoing price war (Simba-M1 merger collapsed May 2026). In Australia, Optus's chief rival is incumbent Telstra. In data centres, Singtel is acquiring a stake in former rival ST Telemedia GDC via a KKR-led deal announced 3 February 2026.
What is Singtel's AI strategy?: CEO Yuen Kuan Moon said on 7 July 2026 that AI could lift digital infrastructure and digital services to as much as a third of group EBITDA, spanning RE:AI GPU-as-a-Service (launched Oct 2024), Nxera data centres, and NCS helping enterprise and government clients adopt AI.

Timeline

2026-07-15India's CCI approves KKR-led buyout of ST Telemedia Global Data Centres
2026-07-07CEO says AI could lift digital business to a third of group EBITDA
2026-05-27Simba-M1 merger terminated, prolonging Singapore telco price war
2026-05-21Singtel FY2026 results released, shares fall 7% as Singapore business weakens
2026-05-20Optus reports FY2026 revenue A$8.345B, EBITDA +6.0%
2026-05-09Capital Group discloses ~5.1% substantial shareholding in Singtel
2026-02-24Digital InfraCo and NVIDIA launch Centre of Excellence for Applied AI
2026-02-09Nxera opens Singapore's highest power-density data centre
2026-02-03KKR-led consortium with Singtel to acquire 82% of ST Telemedia GDC
2025-09-18Optus Triple Zero emergency-call outage causes deaths

Revision history

25 July 2026

First assessed. Hard to displace. The text above is fixed as of this date and is not edited afterwards.

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