- At StarHub’s Investor Day, the group announced the lowering of total DARE+ spend guidance to S$270m. It also does not expect more material delays.
Dare+ total investment guidance lowered by S$40m
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- savings reaped from cost optimisation.
- StarHub also lowered its total expected DARE+ investment amount to S$270m (previously guided at S$310m), with ~S$50m/S$30m earmarked to be incurred in FY24F/25F.
- Management does not expect further material delays to DARE+ spending in FY24F as most initiatives are at their tail end.
Ensign flagged as a growth engine
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- StarHub shared that ~20-30% of Ensign’s customer base used services across all four segments, with scope for further growth as Ensign ramps up business from the commercial sector.
- While Ensign’s EBIT contribution is currently relatively small (9% of FY22 EBIT), we believe the subsidiary is well positioned to capture longer-term tailwinds from growing cybersecurity spending across ASEAN.
2024F: A year of many moving parts
- Read more at SGinvestors.io.
