StarHub - DBS Research 2024-04-22: Potential Ensign Spin-Off Could Boost Share Price By 20%-30%

Deep dive into cybersecurity

• In Sep 2018, StarHub, in a joint venture (JV) with Temasek, launched Ensign, a managed security service provider supporting government agencies and enterprises across the Asia Pacific (APAC) region. The business has grown by over 30% till FY23.
• - Read this at SGinvestors.io -
• A key pillar of StarHub’s DARE+ programme has been to offer converged solutions in the areas of cloud, cybersecurity, and connectivity (3C). Ensign remains pivotal for StarHub and its DARE+ programme, and its platform-based offering is scalable across the region. StarHub retained the assigned rights on Ensign for an additional two years, with the automatic termination date being fixed for 4 Oct 2025.

Ensign InfoSecurity is the largest end-to-end pure-play cybersecurity service company in APAC.

• Read more at SGinvestors.io.

Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Read also DBS's most recent report:
2025-08-15 StarHub - 2026 Outlook To Dictate The Stock Price.

Previous report by DBS:
2025-05-13 StarHub - Over 5% Yield With Earnings Growth From FY26 Onwards.

Price targets by 2 other brokers at StarHub Target Prices.

Listing of research reports at StarHub Analyst Reports.

Relevant links:
StarHub Share Price History,
StarHub Announcements,
StarHub Dividend Payout Dates & Corporate Actions,
StarHub News